Eagle Point Credit Management Sells 5,000 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $22.41, for a total transaction of $112,050.00. Following the transaction, the insider directly owned 755,391 shares in the company, valued at approximately $16,928,312.31. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total transaction of $10,146.50.
• On Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $11,107.74.
• On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $30,540.72.
• On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $2,537.64.
• On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.82, for a total value of $29,965.56.
• On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.24, for a total value of $2,473.52.
• On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $2,496.78.
• On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $1,210.56.
• On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $127,360.80.
• On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total value of $22,998.47.

ACRES Commercial Realty Stock Performance

Shares of ACR stock opened at $20.21 on Wednesday. The company’s fifty day moving average price is $21.85 and its 200-day moving average price is $20.44. The stock has a market cap of $147.33 million, a PE ratio of 21.05 and a beta of 1.19. The company has a current ratio of 104.99, a quick ratio of 104.99 and a debt-to-equity ratio of 2.73. ACRES Commercial Realty Corp. has a 12 month low of $15.64 and a 12 month high of $24.61.

ACRES Commercial Realty announced that its Board of Directors has approved a share repurchase program on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on ACR. Weiss Ratings reissued a “hold (c)” rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Zacks Research raised ACRES Commercial Realty to a “hold” rating in a research report on Friday, December 19th. Citizens Jmp increased their price objective on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Wall Street Zen lowered shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Finally, JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Hedge Funds Weigh In On ACRES Commercial Realty

A number of hedge funds have recently bought and sold shares of the business. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty during the 3rd quarter valued at about $8,282,000. Vanguard Group Inc. boosted its holdings in ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after purchasing an additional 11,465 shares during the last quarter. Acadian Asset Management LLC grew its position in ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company’s stock worth $3,272,000 after purchasing an additional 26,226 shares during the period. Geode Capital Management LLC raised its stake in ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock valued at $2,476,000 after buying an additional 76,688 shares during the last quarter. Finally, Gratia Capital LLC raised its stake in ACRES Commercial Realty by 64.3% during the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock valued at $2,260,000 after buying an additional 49,312 shares during the last quarter. 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.