ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,394 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,394 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.91, for a total value of $59,634.54. Following the transaction, the insider now directly owns 496,897 shares of the company’s stock, valued at approximately $12,377,704.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 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 Wednesday, October 23rd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.89, for a total value of $2,489.00.
• On Friday, October 18th, Eagle Point Credit Management sold 10,601 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.38, for a total transaction of $247,851.38.
• 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 value of $151,163.64.
• On Monday, October 14th, Eagle Point Credit Management sold 4,200 shares of ACRES Commercial Realty stock. The stock was 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 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 transaction of $2,802.40.
• On Wednesday, September 25th, Eagle Point Credit Management sold 4 shares of ACRES Commercial Realty stock. The shares were 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 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 value of $661,950.64.

ACRES Commercial Realty Stock Performance

Shares of NYSE ACR traded up $0.09 during mid-day trading on Friday, hitting $15.39. 18,245 shares of the company were exchanged, compared to its average volume of 21,325. The stock has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $14.33. ACRES Commercial Realty Corp. has a 1-year low of $7.31 and a 1-year high of $16.13. The company has a quick ratio of 100.49, a current ratio of 100.49 and a debt-to-equity ratio of 3.56. The firm has a market cap of $121.12 million, a price-to-earnings ratio of 18.33 and a beta of 2.05.

Analysts Set New Price Targets

Separately, JMP Securities upped their price objective on 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.

Hedge Funds Weigh In On ACRES Commercial Realty

Large investors have recently bought and sold shares of the company. Nokomis Capital L.L.C. purchased a new position in ACRES Commercial Realty during the first quarter worth about $3,729,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at approximately $580,000. Acadian Asset Management LLC boosted its stake in shares of ACRES Commercial Realty by 19.2% in the first 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 in the last quarter. Biltmore Family Office LLC acquired a new position in ACRES Commercial Realty during the second quarter worth $160,000. Finally, Janney Montgomery Scott LLC acquired a new position in ACRES Commercial Realty during the first quarter worth $172,000. 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.