Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells 3,384 Shares of Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,384 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $22.48, for a total value of $76,072.32. Following the completion of the transaction, the insider now directly owns 861,523 shares in the company, valued at approximately $19,367,037.04. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 10% 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, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.45, for a total transaction of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total transaction of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.47, for a total transaction of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.90, for a total transaction of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.40, for a total transaction of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $5,040.00.

ACRES Commercial Realty Price Performance

ACR traded down $0.32 on Friday, hitting $21.12. 44,139 shares of the company were exchanged, compared to its average volume of 21,471. The business’s fifty day moving average is $19.91 and its 200 day moving average is $17.49. ACRES Commercial Realty Corp. has a fifty-two week low of $12.33 and a fifty-two week high of $23.81. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. The firm has a market capitalization of $157.44 million, a P/E ratio of 25.14 and a beta of 2.12.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JMP Securities lifted their price target on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Jones Trading restated a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th.

Hedge Funds Weigh In On ACRES Commercial Realty

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in ACRES Commercial Realty during the fourth quarter worth $829,000. Bank of New York Mellon Corp acquired a new position in shares of ACRES Commercial Realty during the 4th quarter worth $412,000. Jane Street Group LLC purchased a new stake in shares of ACRES Commercial Realty in the 4th quarter worth about $213,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ACRES Commercial Realty in the 3rd quarter valued at about $177,000. Finally, Sei Investments Co. purchased a new position in ACRES Commercial Realty during the 4th quarter valued at about $162,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.