ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $151,163.64 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 6,309 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $23.96, for a total value of $151,163.64. Following the completion of the transaction, the insider now directly owns 499,992 shares in the company, valued at $11,979,808.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Monday, October 14th, Eagle Point Credit Management sold 4,200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.86, for a total value of $104,412.00.
• On Friday, October 11th, Eagle Point Credit Management sold 4,630 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.85, for a total value of $115,055.50.
• On Wednesday, October 9th, Eagle Point Credit Management sold 113 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.80, for a total transaction of $2,802.40.
• On Wednesday, September 25th, Eagle Point Credit Management sold 4 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total transaction of $100.88.
• On Monday, September 23rd, Eagle Point Credit Management sold 5,159 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total transaction of $130,109.98.
• On Friday, September 20th, Eagle Point Credit Management sold 17,075 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.13, for a total transaction of $412,019.75.
• On Wednesday, September 18th, Eagle Point Credit Management sold 27,196 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.34, for a total transaction of $661,950.64.
• On Friday, September 13th, Eagle Point Credit Management sold 1,503 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.59, for a total transaction of $35,455.77.
• On Wednesday, September 11th, Eagle Point Credit Management sold 3,576 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.98, for a total value of $89,328.48.
• On Monday, September 9th, Eagle Point Credit Management sold 699 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.98, for a total value of $17,461.02.

ACRES Commercial Realty Price Performance

Shares of ACRES Commercial Realty stock traded up $0.33 during midday trading on Friday, hitting $15.67. 5,963 shares of the company traded hands, compared to its average volume of 21,438. The stock has a market cap of $124.72 million, a price-to-earnings ratio of 22.39 and a beta of 2.05. The company has a debt-to-equity ratio of 3.56, a quick ratio of 100.49 and a current ratio of 100.49. The firm’s fifty day moving average price is $15.58 and its 200-day moving average price is $14.25. ACRES Commercial Realty Corp. has a 12 month low of $6.62 and a 12 month high of $16.13.

Institutional Trading of ACRES Commercial Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Biltmore Family Office LLC bought a new position in shares of ACRES Commercial Realty in the 2nd quarter valued at $160,000. Janney Montgomery Scott LLC acquired a new position in ACRES Commercial Realty in the 1st quarter worth about $172,000. Ritholtz Wealth Management raised its position in ACRES Commercial Realty by 17.0% in the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after purchasing an additional 3,043 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of ACRES Commercial Realty during the first quarter valued at about $580,000. Finally, Acadian Asset Management LLC grew its holdings in shares of ACRES Commercial Realty by 19.2% during the first quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,986 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities raised their price objective on ACRES Commercial Realty from $16.50 to $17.50 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th.

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.