ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $46,710.00 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,076 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $22.50, for a total value of $46,710.00. Following the completion of the transaction, the insider owned 731,230 shares of the company’s stock, valued at $16,452,675. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major 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 Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.37, for a total transaction of $145,756.97.
• On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $21,624.03.
• On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total value of $5,476.05.
• On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.56, for a total transaction of $34,449.12.
• On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total transaction of $9,516.10.
• On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total value of $147,530.46.
• On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.50, for a total value of $9,090.00.
• On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR opened at $18.07 on Monday. The firm has a market capitalization of $128.80 million, a P/E ratio of 27.79 and a beta of 1.07. The firm’s 50-day moving average price is $19.51 and its 200-day moving average price is $19.80. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. ACRES Commercial Realty Corp. has a 1-year low of $15.61 and a 1-year high of $24.61.

ACRES Commercial Realty (NYSE:ACR) last issued its earnings results on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $17.82 million for the quarter, compared to analysts’ expectations of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. Equities research analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock worth $29,000 after purchasing an additional 739 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of ACRES Commercial Realty during the second quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of ACRES Commercial Realty during the second quarter valued at about $60,000. MetLife Investment Management LLC purchased a new stake in shares of ACRES Commercial Realty in the fourth quarter worth about $76,000. Finally, Bank of America Corp DE lifted its holdings in shares of ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock worth $66,000 after buying an additional 1,926 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACR has been the topic of several research reports. Wall Street Zen raised shares of ACRES Commercial Realty from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, ACRES Commercial Realty currently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

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.