Eagle Point Credit Management Sells 6,309 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 6,309 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $23.96, for a total value of $151,163.64. Following the completion of the transaction, the insider now owns 499,992 shares in the company, valued at $11,979,808.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, October 14th, Eagle Point Credit Management sold 4,200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.86, for a total value of $104,412.00.
• On Friday, October 11th, Eagle Point Credit Management sold 4,630 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total value of $115,055.50.
• On Wednesday, October 9th, Eagle Point Credit Management sold 113 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.80, for a total transaction of $2,802.40.
• On Wednesday, September 25th, Eagle Point Credit Management sold 4 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction of $100.88.
• On Monday, September 23rd, Eagle Point Credit Management sold 5,159 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total transaction of $130,109.98.
• On Friday, September 20th, Eagle Point Credit Management sold 17,075 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.13, for a total value of $412,019.75.
• On Wednesday, September 18th, Eagle Point Credit Management sold 27,196 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.34, for a total value of $661,950.64.
• On Friday, September 13th, Eagle Point Credit Management sold 1,503 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.59, for a total transaction of $35,455.77.
• On Wednesday, September 11th, Eagle Point Credit Management sold 3,576 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.98, for a total value of $89,328.48.
• On Monday, September 9th, Eagle Point Credit Management sold 699 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.98, for a total transaction of $17,461.02.

ACRES Commercial Realty Price Performance

ACR stock opened at $15.67 on Friday. The stock has a market capitalization of $124.72 million, a price-to-earnings ratio of 22.39 and a beta of 2.05. The company has a quick ratio of 100.49, a current ratio of 100.49 and a debt-to-equity ratio of 3.56. ACRES Commercial Realty Corp. has a 52-week low of $6.62 and a 52-week high of $16.13. The stock’s fifty day simple moving average is $15.58 and its 200-day simple moving average is $14.25.

Analyst Upgrades and Downgrades

Separately, JMP Securities upped their price objective on shares of ACRES Commercial Realty from $16.50 to $17.50 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th.

Institutional Trading of ACRES Commercial Realty

A number of hedge funds have recently added to or reduced their stakes in ACR. Biltmore Family Office LLC acquired a new position in shares of ACRES Commercial Realty during the 2nd quarter valued at about $160,000. Janney Montgomery Scott LLC acquired a new position in ACRES Commercial Realty during the first quarter worth approximately $172,000. Ritholtz Wealth Management raised its stake in ACRES Commercial Realty by 17.0% during the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock worth $267,000 after purchasing an additional 3,043 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $580,000. Finally, Acadian Asset Management LLC grew its stake in shares of ACRES Commercial Realty by 19.2% during the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock valued at $1,480,000 after buying an additional 16,986 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

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.