ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 854 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 854 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $22.45, for a total transaction of $19,172.30. Following the sale, the insider now directly owns 865,612 shares of the company’s stock, valued at $19,432,989.40. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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, March 26th, Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $76,072.32.
• 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 value 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 value 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 value 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.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,584.00.

ACRES Commercial Realty Trading Down 1.5 %

NYSE ACR opened at $21.12 on Friday. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. The stock has a market capitalization of $157.44 million, a P/E ratio of 25.14 and a beta of 2.12. The firm’s 50-day moving average is $19.98 and its two-hundred day moving average is $17.53. ACRES Commercial Realty Corp. has a 12 month low of $12.33 and a 12 month high of $23.81.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ACRES Commercial Realty

Large investors have recently made changes to their positions in the stock. Barclays PLC raised its position in ACRES Commercial Realty by 147.1% in the third quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,083 shares during the period. Sei Investments Co. acquired a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at $162,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ACRES Commercial Realty in the 3rd quarter valued at $177,000. Jane Street Group LLC acquired a new position in ACRES Commercial Realty during the 4th quarter worth about $213,000. Finally, Biltmore Family Office LLC boosted its holdings in ACRES Commercial Realty by 41.7% during the 4th quarter. Biltmore Family Office LLC now owns 22,104 shares of the company’s stock valued at $357,000 after acquiring an additional 6,504 shares during the period. 40.03% of the stock is currently 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.