ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 2,388 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,388 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $25.20, for a total value of $60,177.60. Following the sale, the insider now owns 426,358 shares of the company’s stock, valued at approximately $10,744,221.60. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major 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 Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.77, for a total transaction of $168,832.32.
• On Monday, December 16th, Eagle Point Credit Management sold 4,186 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.13, for a total transaction of $105,194.18.
• On Friday, December 13th, Eagle Point Credit Management sold 130 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.06, for a total transaction of $2,997.80.
• On Wednesday, December 11th, Eagle Point Credit Management sold 3,650 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.59, for a total value of $89,753.50.
• On Monday, December 9th, Eagle Point Credit Management sold 1,241 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.18, for a total transaction of $31,248.38.
• On Friday, December 6th, Eagle Point Credit Management sold 4,098 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.18, for a total value of $103,187.64.
• On Wednesday, December 4th, Eagle Point Credit Management sold 647 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.11, for a total transaction of $16,246.17.
• On Monday, December 2nd, Eagle Point Credit Management sold 3,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total value of $95,873.14.
• On Friday, November 29th, Eagle Point Credit Management sold 1,936 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total value of $48,690.40.

ACRES Commercial Realty Stock Performance

ACR traded up $0.37 during trading hours on Thursday, hitting $16.17. 9,148 shares of the stock were exchanged, compared to its average volume of 20,893. The stock has a market cap of $125.11 million, a price-to-earnings ratio of 19.25 and a beta of 2.06. The stock has a 50-day simple moving average of $16.33 and a 200-day simple moving average of $15.24. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. ACRES Commercial Realty Corp. has a 12 month low of $9.41 and a 12 month high of $17.77.

Analysts Set New Price Targets

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

Institutional Trading of ACRES Commercial Realty

Large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after buying an additional 2,083 shares in the last quarter. Biltmore Family Office LLC bought a new position in shares of ACRES Commercial Realty in the second quarter worth $160,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ACRES Commercial Realty during the third quarter valued at $177,000. Finally, Ritholtz Wealth Management raised its stake in shares of ACRES Commercial Realty by 17.0% during the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after purchasing an additional 3,043 shares in the last quarter. Institutional investors and hedge funds 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.