ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 9,937 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 9,937 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $23.08, for a total value of $229,345.96. Following the transaction, the insider now owns 866,466 shares in the company, valued at $19,998,035.28. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% 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, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.47, for a total value of $194,522.79.
• 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 value 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 value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was 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 stock was sold at an average price of $25.20, for a total value of $60,177.60.

ACRES Commercial Realty Trading Down 7.0 %

NYSE ACR opened at $21.75 on Friday. The firm has a market capitalization of $162.13 million, a P/E ratio of 25.89 and a beta of 2.12. The business has a fifty day simple moving average of $19.57 and a 200 day simple moving average of $17.31. ACRES Commercial Realty Corp. has a 12 month low of $12.30 and a 12 month high of $23.81. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33.

Institutional Investors Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of ACRES Commercial Realty by 147.1% during the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock valued at $55,000 after purchasing an additional 2,083 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of ACRES Commercial Realty during the 4th quarter valued at $162,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ACRES Commercial Realty during the 3rd quarter valued at $177,000. Jane Street Group LLC purchased a new stake in shares of ACRES Commercial Realty during the 4th quarter valued at $213,000. Finally, Biltmore Family Office LLC increased its position 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 valued at $244,000 after purchasing an additional 3,100 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACR has been the topic of a number of recent research reports. JMP Securities increased their target price on ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Jones Trading reissued a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th.

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.