ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $76,072.32 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,384 shares of ACRES Commercial Realty 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 owns 861,523 shares in the company, valued at approximately $19,367,037.04. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value 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 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 transaction of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $5,040.00.

ACRES Commercial Realty Price Performance

NYSE ACR opened at $21.12 on Friday. The firm has a market cap of $157.44 million, a P/E ratio of 25.14 and a beta of 2.12. The stock’s 50-day moving average is $19.98 and its two-hundred day moving average is $17.53. ACRES Commercial Realty Corp. has a fifty-two week low of $12.33 and a fifty-two week high of $23.81. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84.

Institutional Investors Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of ACRES Commercial Realty by 147.1% in the third 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 period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ACRES Commercial Realty during the third quarter valued at about $177,000. Bank of New York Mellon Corp acquired a new stake in shares of ACRES Commercial Realty in the fourth quarter valued at about $412,000. Northern Trust Corp increased its stake in shares of ACRES Commercial Realty by 32.5% in the fourth quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock worth $641,000 after purchasing an additional 9,738 shares during the period. Finally, Nokomis Capital L.L.C. lifted its position in shares of ACRES Commercial Realty by 1.1% during the 4th 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 last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.