Eagle Point Credit Management Sells 3,384 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,384 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $22.48, for a total transaction of $76,072.32. Following the completion of the transaction, the insider now directly owns 861,523 shares of the company’s stock, valued at approximately $19,367,037.04. This represents a 0.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 24th, Eagle Point Credit Management sold 854 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.45, for a total transaction of $19,172.30.
• On Wednesday, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.08, for a total value of $229,345.96.
• 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 shares were 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 shares were 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.

ACRES Commercial Realty Stock Performance

NYSE:ACR opened at $21.12 on Monday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. ACRES Commercial Realty Corp. has a fifty-two week low of $12.33 and a fifty-two week high of $23.81. The business has a 50 day moving average price of $19.98 and a 200-day moving average price of $17.56. The firm has a market cap of $157.44 million, a PE ratio of 25.14 and a beta of 2.12.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of large investors have recently added to or reduced their stakes in the company. Nokomis Capital L.L.C. boosted its holdings in shares of ACRES Commercial Realty by 1.1% during the fourth quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock worth $4,273,000 after purchasing an additional 2,889 shares during the period. Jane Street Group LLC purchased a new stake in ACRES Commercial Realty in the 4th quarter worth approximately $213,000. Northern Trust Corp grew its position in shares of ACRES Commercial Realty by 32.5% in the 4th quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after buying an additional 9,738 shares during the last quarter. Gratia Capital LLC increased its stake in shares of ACRES Commercial Realty by 1.3% during the fourth quarter. Gratia Capital LLC now owns 101,314 shares of the company’s stock valued at $1,636,000 after buying an additional 1,314 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of ACRES Commercial Realty during the fourth quarter valued at approximately $829,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JMP Securities lifted their target price on shares of ACRES Commercial Realty to $22.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Jones Trading reiterated a “hold” rating on shares of ACRES Commercial Realty in a 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.