ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 8,657 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $22.47, for a total transaction of $194,522.79. Following the completion of the transaction, the insider now owns 877,539 shares in the company, valued at $19,718,301.33. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 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 stock was 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 transaction of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $10,584.00.
• On Monday, December 23rd, Eagle Point Credit Management sold 2,388 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $60,177.60.
• On Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.77, for a total transaction of $168,832.32.

ACRES Commercial Realty Trading Up 1.1 %

ACR opened at $23.16 on Tuesday. ACRES Commercial Realty Corp. has a fifty-two week low of $11.41 and a fifty-two week high of $23.36. The company has a market cap of $179.15 million, a price-to-earnings ratio of 27.57 and a beta of 2.12. 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 firm has a 50 day simple moving average of $19.11 and a 200 day simple moving average of $17.13.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jones Trading reissued a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities raised their price target on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a report on Friday, March 7th.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of ACR. Barclays PLC grew its position in shares of ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after acquiring an additional 2,083 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ACRES Commercial Realty in the third quarter valued at approximately $177,000. Biltmore Family Office LLC boosted its stake in shares of ACRES Commercial Realty by 24.8% during the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after acquiring an additional 3,100 shares during the period. Nokomis Capital L.L.C. increased its holdings in shares of ACRES Commercial Realty by 1.1% during the 4th quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock worth $4,273,000 after acquiring an additional 2,889 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in ACRES Commercial Realty in the 4th quarter valued at $829,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.