ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 854 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 854 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $22.45, for a total value of $19,172.30. Following the completion of the sale, the insider now owns 865,612 shares of the company’s stock, valued at approximately $19,432,989.40. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 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 Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total transaction of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.47, for a total transaction 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 transaction of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The shares were 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 shares were sold at an average price of $25.20, for a total value of $10,584.00.

ACRES Commercial Realty Trading Down 3.0 %

NYSE:ACR opened at $21.24 on Thursday. The company has a market capitalization of $158.37 million, a P/E ratio of 25.29 and a beta of 2.12. The company has a current ratio of 73.84, a quick ratio of 73.84 and a debt-to-equity ratio of 3.33. ACRES Commercial Realty Corp. has a 12 month low of $12.33 and a 12 month high of $23.81. The firm has a fifty day simple moving average of $19.84 and a 200-day simple moving average of $17.46.

Institutional Trading of ACRES Commercial Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACR. Raymond James Financial Inc. acquired a new position in shares of ACRES Commercial Realty in the fourth quarter valued at about $829,000. Bank of New York Mellon Corp purchased a new stake in ACRES Commercial Realty in the fourth quarter valued at approximately $412,000. Jane Street Group LLC acquired a new position in ACRES Commercial Realty in the 4th quarter worth approximately $213,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ACRES Commercial Realty in the 3rd quarter worth approximately $177,000. Finally, Sei Investments Co. purchased a new position in ACRES Commercial Realty during the 4th quarter worth approximately $162,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jones Trading restated a “hold” rating on shares of ACRES Commercial Realty in a report on Thursday, March 13th. JMP Securities increased their target price on shares of ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research report on Friday, March 7th.

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.