Insider Selling: ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $48,221.60 in Stock

Key Points

• Eagle Point Credit Management sold 2,212 ACRES Commercial Realty shares at an average price of $21.80, generating $48,221.60; it still holds 716,679 shares valued at approximately $15.6 million.
• ACR shares traded at $18.40, within a 52-week range of $15.61 to $24.61. The company reported a quarterly loss of $2.26 per share, missing analyst expectations of $0.18 EPS.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $24.50; institutional investors own about 40% of the company.

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,212 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $21.80, for a total value of $48,221.60. Following the completion of the sale, the insider directly owned 716,679 shares in the company, valued at $15,623,602.20. This represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 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 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 Monday, July 27th, Eagle Point Credit Management sold 1,389 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.78, for a total value of $30,252.42.
• On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $46,710.00.
• On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value 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 shares were 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 stock was 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 stock was 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 Price Performance

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

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

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors and hedge funds have recently bought and sold shares of ACR. BNP Paribas Financial Markets increased its holdings in shares of ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock valued at $29,000 after purchasing an additional 739 shares during the period. Barclays PLC grew its position in ACRES Commercial Realty by 10.8% during the fourth quarter. Barclays PLC now owns 9,610 shares of the company's stock valued at $205,000 after purchasing an additional 939 shares in the last quarter. Janney Montgomery Scott LLC grew its position in ACRES Commercial Realty by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company's stock valued at $894,000 after purchasing an additional 1,019 shares in the last quarter. Bank of America Corp DE increased its stake in 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 buying an additional 1,926 shares during the period. Finally, Raymond James Financial Inc. increased its stake in ACRES Commercial Realty by 2.5% in the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company's stock valued at $1,696,000 after buying an additional 1,979 shares during the period. Hedge funds and other institutional investors 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. Weiss Ratings upgraded ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wall Street Zen downgraded ACRES Commercial Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Finally, Zacks Research lowered ACRES Commercial Realty from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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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