Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells 2,500 Shares of Stock

Key Points

• Major shareholder Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty for $22.68 each, totaling $56,700, reducing their stake by 0.32% to approximately 771,484 shares.
• ACR stock is currently trading at $20.58, down 1.3%, and has a market cap of $152.87 million with a P/E ratio of -1,028.24.
• Analysts from JMP Securities raised their price target for ACRES Commercial Realty from $22.00 to $23.50, with a consensus rating of "Moderate Buy."

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,500 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00. Following the sale, the insider owned 771,484 shares in the company, valued at approximately $17,497,257.12. This represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% 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 Wednesday, September 24th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.60, for a total transaction of $2,260.00.
• On Monday, September 22nd, Eagle Point Credit Management sold 126 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.63, for a total transaction of $2,851.38.
• On Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The stock was 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 shares were 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 shares were sold at an average price of $22.61, for a total transaction of $63,873.25.
• On Tuesday, September 16th, Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total transaction of $227,099.34.
• On Monday, September 15th, Eagle Point Credit Management sold 389 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.57, for a total transaction 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 transaction 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 transaction of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $70,632.16.

ACRES Commercial Realty Trading Down 1.3%

ACR stock traded down $0.28 during mid-day trading on Thursday, reaching $20.58. 27,487 shares of the stock traded hands, compared to its average volume of 18,287. The stock's fifty day moving average is $20.45 and its 200-day moving average is $19.26. The company has a current ratio of 69.53, a quick ratio of 69.53 and a debt-to-equity ratio of 3.01. The company has a market cap of $152.87 million, a P/E ratio of -1,028.24 and a beta of 1.80. ACRES Commercial Realty Corp. has a 52-week low of $14.87 and a 52-week high of $23.81.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ACRES Commercial Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at approximately $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at approximately $60,000. Bank of America Corp DE grew its position in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after purchasing an additional 1,926 shares during the period. Russell Investments Group Ltd. bought a new stake in ACRES Commercial Realty in the 2nd quarter valued at approximately $93,000. Finally, New York State Common Retirement Fund bought a new stake in ACRES Commercial Realty in the 2nd quarter valued at approximately $106,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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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