Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells 11,071 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 11,071 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $22.39, for a total value of $247,879.69. Following the sale, the insider now owns 847,501 shares in the company, valued at approximately $18,975,547.39. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Monday, June 16th, Eagle Point Credit Management sold 553 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total value of $12,331.90.
• On Friday, June 13th, Eagle Point Credit Management sold 400 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.25, for a total value of $8,900.00.
• On Friday, March 28th, Eagle Point Credit Management sold 1,172 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $26,346.56.
• On Wednesday, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $76,072.32.
• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total value of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.08, for a total value of $229,345.96.

ACRES Commercial Realty Price Performance

ACRES Commercial Realty stock traded down $0.10 on Tuesday, reaching $17.68. The company's stock had a trading volume of 36,909 shares, compared to its average volume of 25,377. The company has a debt-to-equity ratio of 2.89, a quick ratio of 88.11 and a current ratio of 88.11. The company has a market cap of $130.65 million, a price-to-earnings ratio of 60.96 and a beta of 1.75. The business's fifty day moving average price is $18.22 and its 200 day moving average price is $18.59. ACRES Commercial Realty Corp. has a twelve month low of $12.69 and a twelve month high of $23.81.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($1.15). The business had revenue of $5.60 million during the quarter, compared to analyst estimates of $19.89 million. ACRES Commercial Realty had a return on equity of 2.95% and a net margin of 22.98%. Equities analysts expect that ACRES Commercial Realty Corp. will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of institutional investors and hedge funds have recently bought and sold shares of ACR. Cubist Systematic Strategies LLC acquired a new position in shares of ACRES Commercial Realty during the first quarter valued at $133,000. Sei Investments Co. acquired a new position in shares of ACRES Commercial Realty during the fourth quarter valued at $162,000. Jane Street Group LLC acquired a new position in shares of ACRES Commercial Realty during the fourth quarter valued at $213,000. Biltmore Family Office LLC lifted its stake in shares of ACRES Commercial Realty by 41.7% during the fourth quarter. Biltmore Family Office LLC now owns 22,104 shares of the company's stock valued at $357,000 after acquiring an additional 6,504 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of ACRES Commercial Realty during the fourth quarter valued at $412,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

ACR has been the topic of several recent analyst reports. Jones Trading reaffirmed a "hold" rating on shares of ACRES Commercial Realty in a research note on Thursday, March 13th. JMP Securities boosted their price target on ACRES Commercial Realty to $22.00 and gave the company a "buy" rating in a research note on Friday, March 7th.

ACRES Commercial Realty Company Profile

ACRES Commercial Realty Corp., a real estate investment trust (REIT), focuses on the origination, holding, and management of commercial real estate mortgage loans and equity investments in commercial real estate property in the United States. It invests in commercial real estate-related assets, including floating-rate first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine financing, preferred equity investments, and commercial mortgage-backed securities.

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