Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells 18,464 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 18,464 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $25.00, for a total transaction of $461,600.00. Following the completion of the transaction, the insider now owns 659,267 shares of the company’s stock, valued at $16,481,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large 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 Tuesday, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.01, for a total transaction of $175,195.05.

ACRES Commercial Realty Price Performance

NYSE:ACR traded up $0.17 during midday trading on Thursday, hitting $12.92. The company had a trading volume of 10,433 shares, compared to its average volume of 24,329. ACRES Commercial Realty Corp. has a 52-week low of $6.62 and a 52-week high of $14.35. The stock’s fifty day moving average price is $13.15 and its 200-day moving average price is $11.73. The company has a market capitalization of $102.80 million, a PE ratio of 18.45 and a beta of 2.02. The company has a quick ratio of 90.61, a current ratio of 90.61 and a debt-to-equity ratio of 3.67.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.25). ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. The business had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. As a group, research analysts expect that ACRES Commercial Realty Corp. will post 1.16 earnings per share for the current year.

Institutional Trading of ACRES Commercial Realty

Institutional investors have recently added to or reduced their stakes in the business. Nokomis Capital L.L.C. bought a new position in shares of ACRES Commercial Realty during the first quarter valued at about $3,729,000. O Shaughnessy Asset Management LLC bought a new position in shares of ACRES Commercial Realty during the first quarter valued at about $580,000. Acadian Asset Management LLC raised its stake in ACRES Commercial Realty by 19.2% in the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after buying an additional 16,986 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in ACRES Commercial Realty in the first quarter worth about $172,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JMP Securities upped their target price on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Tuesday, April 30th.

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.