ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $59,634.54 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,394 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.91, for a total value of $59,634.54. Following the completion of the transaction, the insider now directly owns 496,897 shares of the company’s stock, valued at approximately $12,377,704.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Wednesday, October 23rd, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $2,489.00.
• On Friday, October 18th, Eagle Point Credit Management sold 10,601 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.38, for a total transaction of $247,851.38.
• On Wednesday, October 16th, Eagle Point Credit Management sold 6,309 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.96, for a total transaction of $151,163.64.
• On Monday, October 14th, Eagle Point Credit Management sold 4,200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.86, for a total transaction of $104,412.00.
• On Friday, October 11th, Eagle Point Credit Management sold 4,630 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $24.80, for a total value of $2,802.40.
• On Wednesday, September 25th, Eagle Point Credit Management sold 4 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $100.88.
• On Monday, September 23rd, Eagle Point Credit Management sold 5,159 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $130,109.98.
• On Friday, September 20th, Eagle Point Credit Management sold 17,075 shares of ACRES Commercial Realty stock. The shares were 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.

ACRES Commercial Realty Stock Performance

Shares of ACRES Commercial Realty stock opened at $15.39 on Monday. The business’s fifty day simple moving average is $15.50 and its 200-day simple moving average is $14.35. The company has a quick ratio of 100.49, a current ratio of 100.49 and a debt-to-equity ratio of 3.56. The firm has a market cap of $121.17 million, a PE ratio of 18.32 and a beta of 2.05. ACRES Commercial Realty Corp. has a 52 week low of $7.31 and a 52 week high of $16.13.

Analyst Upgrades and Downgrades

Separately, JMP Securities raised their price target on shares of ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACR. Nokomis Capital L.L.C. acquired a new position in shares of ACRES Commercial Realty in the 1st quarter worth approximately $3,729,000. O Shaughnessy Asset Management LLC purchased a new stake in ACRES Commercial Realty in the first quarter valued at approximately $580,000. Acadian Asset Management LLC lifted its stake in 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 in the last quarter. Biltmore Family Office LLC purchased a new position in shares of ACRES Commercial Realty during the second quarter worth $160,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ACRES Commercial Realty in the first quarter valued at $172,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.