ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $247,851.38 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 10,601 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were 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 in the company, valued at approximately $11,675,761.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 16th, Eagle Point Credit Management sold 6,309 shares of ACRES Commercial Realty stock. The shares were 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 transaction 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 stock was 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 stock was 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 stock was 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 transaction of $89,328.48.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR traded up $0.05 during midday trading on Tuesday, hitting $15.48. The company had a trading volume of 17,215 shares, compared to its average volume of 21,359. 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 twelve month low of $6.62 and a twelve month high of $16.13. The business has a 50-day simple moving average of $15.57 and a two-hundred day simple moving average of $14.26. The firm has a market capitalization of $123.21 million, a price-to-earnings ratio of 21.87 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised their target price on shares of 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.

Hedge Funds Weigh In On ACRES Commercial Realty

Several hedge funds have recently added to or reduced their stakes in ACR. Ritholtz Wealth Management grew its holdings 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 worth $267,000 after buying an additional 3,043 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of ACRES Commercial Realty during the first quarter worth about $172,000. Biltmore Family Office LLC purchased a new stake in shares of ACRES Commercial Realty during the second quarter worth about $160,000. Acadian Asset Management LLC grew 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 buying an additional 16,986 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of ACRES Commercial Realty during the first quarter worth about $580,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

ACRES Commercial Realty Company Profile

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.