ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 10,601 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 10,601 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $23.38, for a total transaction of $247,851.38. Following the completion of the sale, the insider now directly owns 499,391 shares of the company’s stock, valued at approximately $11,675,761.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Wednesday, October 16th, Eagle Point Credit Management sold 6,309 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.96, for a total transaction of $151,163.64.
• 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 transaction of $104,412.00.
• On Friday, October 11th, Eagle Point Credit Management sold 4,630 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $24.80, for a total value 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 value of $100.88.
• On Monday, September 23rd, Eagle Point Credit Management sold 5,159 shares of ACRES Commercial Realty stock. The stock was 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 transaction 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 transaction of $661,950.64.
• On Friday, September 13th, Eagle Point Credit Management sold 1,503 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $24.98, for a total value of $89,328.48.

ACRES Commercial Realty Stock Performance

Shares of ACRES Commercial Realty stock opened at $15.32 on Friday. The company has a 50 day moving average price of $15.55 and a 200 day moving average price of $14.29. The firm has a market capitalization of $120.57 million, a P/E ratio of 18.91 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 $7.25 and a 52 week high of $16.13.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management increased its position in shares of ACRES Commercial Realty by 23.0% in the 3rd quarter. Ritholtz Wealth Management now owns 25,769 shares of the company’s stock valued at $404,000 after acquiring an additional 4,825 shares during the period. Biltmore Family Office LLC purchased a new stake in ACRES Commercial Realty during the 2nd quarter valued at about $160,000. Nokomis Capital L.L.C. acquired a new position in shares of ACRES Commercial Realty in the first quarter valued at about $3,729,000. O Shaughnessy Asset Management LLC purchased a new position in shares of ACRES Commercial Realty in the first quarter worth about $580,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of ACRES Commercial Realty by 19.2% during the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,986 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.