Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 1,389 Shares of Stock

Key Points

• Eagle Point Credit Management sold 1,389 ACRES Commercial Realty shares at an average price of $21.78, worth $30,252.42, reducing its position by 0.19% to 719,097 shares. The shareholder has reported multiple additional sales in recent months.
• ACRES Commercial Realty reported a quarterly loss of $2.26 per share, missing the $0.18 analyst consensus estimate by $2.44. The stock recently traded at $18.40, within a 52-week range of $15.61 to $24.61.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $24.50 price target; two analysts rate the stock Buy, one Hold, and one Sell. Institutional investors and hedge funds own approximately 40.03% of the company.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,389 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $21.78, for a total value of $30,252.42. Following the sale, the insider directly owned 719,097 shares in the company, valued at $15,661,932.66. This trade represents a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total value of $48,221.60.
• On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total value of $4,488.74.
• On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total transaction of $46,710.00.
• On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.37, for a total transaction of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total transaction of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total transaction of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total transaction of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total transaction of $9,090.00.

ACRES Commercial Realty Stock Performance

ACR traded up $0.29 on Wednesday, reaching $18.40. The company had a trading volume of 38,447 shares, compared to its average volume of 15,503. ACRES Commercial Realty Corp. has a 1 year low of $15.61 and a 1 year high of $24.61. The stock has a market capitalization of $131.21 million, a PE ratio of 28.31 and a beta of 1.09. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. The stock has a 50-day moving average price of $18.12 and a 200-day moving average price of $19.06.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($2.26) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($2.44). ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. As a group, research analysts forecast that ACRES Commercial Realty Corp. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of ACRES Commercial Realty by 524.2% during the fourth quarter. Royal Bank of Canada now owns 5,349 shares of the company's stock worth $114,000 after purchasing an additional 4,492 shares during the period. New York State Common Retirement Fund acquired a new position in ACRES Commercial Realty in the 2nd quarter valued at $106,000. Russell Investments Group Ltd. acquired a new position in ACRES Commercial Realty in the 2nd quarter valued at $93,000. MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty during the 4th quarter worth $76,000. Finally, Bank of America Corp DE raised its position in ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock worth $66,000 after buying an additional 1,926 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

ACR has been the topic of a number of recent research reports. Wall Street Zen cut shares of ACRES Commercial Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Zacks Research downgraded shares of ACRES Commercial Realty from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Finally, Weiss Ratings raised shares of ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ACRES Commercial Realty currently has a consensus rating of "Hold" and a consensus price target of $24.50.

About ACRES Commercial Realty

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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