Eagle Point Credit Management Sells 10,062 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

Key Points

• Major shareholder Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty at an average price of $22.57, totaling approximately $227,099.
• Following the sale, Eagle Point Credit Management's ownership decreased by 1.28%, with them retaining around 776,433 shares valued at approximately $17.5 million.
• JMP Securities upgraded ACRES Commercial Realty's target price from $22.00 to $23.50, indicating a "market outperform" rating.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $22.57, for a total value of $227,099.34. Following the sale, the insider owned 776,433 shares of the company's stock, valued at approximately $17,524,092.81. This represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.62, for a total transaction of $9,093.24.
• On Thursday, September 18th, Eagle Point Credit Management sold 2,456 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.61, for a total transaction of $55,530.16.
• On Wednesday, September 17th, Eagle Point Credit Management sold 2,825 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.61, for a total transaction of $63,873.25.
• On Monday, September 15th, Eagle Point Credit Management sold 389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total value of $8,779.73.
• On Friday, September 12th, Eagle Point Credit Management sold 310 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total value of $6,996.70.
• On Thursday, September 11th, Eagle Point Credit Management sold 5,945 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.52, for a total value of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.48, for a total value of $70,632.16.
• On Tuesday, September 9th, Eagle Point Credit Management sold 1,643 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.43, for a total value of $36,852.49.
• On Monday, September 8th, Eagle Point Credit Management sold 2,188 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.43, for a total value of $49,076.84.
• On Friday, September 5th, Eagle Point Credit Management sold 90 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.40, for a total transaction of $2,016.00.

ACRES Commercial Realty Trading Down 1.6%

Shares of ACR stock traded down $0.33 during trading hours on Friday, hitting $20.87. 59,476 shares of the company were exchanged, compared to its average volume of 15,139. The firm has a fifty day moving average of $19.91 and a 200 day moving average of $19.30. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01. ACRES Commercial Realty Corp. has a 1 year low of $14.87 and a 1 year high of $23.81. The firm has a market cap of $155.06 million, a PE ratio of -1,042.98 and a beta of 1.82.

Analysts Set New Price Targets

Separately, JMP Securities increased their price target on shares of ACRES Commercial Realty from $22.00 to $23.50 and gave the stock a "market outperform" rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, ACRES Commercial Realty has an average rating of "Moderate Buy" and an average price target of $23.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock valued at $2,476,000 after acquiring an additional 76,688 shares in the last quarter. Gratia Capital LLC lifted its stake in shares of ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company's stock worth $2,260,000 after purchasing an additional 49,312 shares in the last quarter. Informed Momentum Co LLC acquired a new position in shares of ACRES Commercial Realty during the first quarter worth about $697,000. Raymond James Financial Inc. boosted its position in shares of ACRES Commercial Realty by 60.6% in the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company's stock worth $1,402,000 after buying an additional 29,503 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock valued at $3,272,000 after buying an additional 26,226 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.