ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $56,700.00 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00. Following the sale, the insider owned 771,484 shares in the company, valued at approximately $17,497,257.12. This represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 24th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.60, for a total transaction of $2,260.00.
• On Monday, September 22nd, Eagle Point Credit Management sold 126 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.63, for a total value of $2,851.38.
• On Friday, September 19th, Eagle Point Credit Management sold 402 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.62, for a total value of $9,093.24.
• On Thursday, September 18th, Eagle Point Credit Management sold 2,456 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.61, for a total value of $55,530.16.
• On Wednesday, September 17th, Eagle Point Credit Management sold 2,825 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.61, for a total value of $63,873.25.
• On Tuesday, September 16th, Eagle Point Credit Management sold 10,062 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total value of $227,099.34.
• On Monday, September 15th, Eagle Point Credit Management sold 389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total transaction of $8,779.73.
• On Friday, September 12th, Eagle Point Credit Management sold 310 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.57, for a total transaction of $6,996.70.
• On Thursday, September 11th, Eagle Point Credit Management sold 5,945 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.52, for a total transaction of $133,881.40.
• On Wednesday, September 10th, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.48, for a total transaction of $70,632.16.

ACRES Commercial Realty Trading Up 0.2%

Shares of ACRES Commercial Realty stock opened at $20.65 on Friday. The company has a current ratio of 69.53, a quick ratio of 69.53 and a debt-to-equity ratio of 3.01. ACRES Commercial Realty Corp. has a twelve month low of $14.87 and a twelve month high of $23.81. The firm has a market capitalization of $153.39 million, a PE ratio of -1,031.73 and a beta of 1.80. The firm’s 50-day moving average price is $20.48 and its 200 day moving average price is $19.21.

Institutional Trading of ACRES Commercial Realty

Several large investors have recently added to or reduced their stakes in ACR. Gratia Capital LLC increased its stake in shares of ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company’s stock worth $2,260,000 after acquiring an additional 49,312 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company’s stock valued at $66,000 after purchasing an additional 1,926 shares during the period. Raymond James Financial Inc. increased its position in ACRES Commercial Realty by 60.6% during the second quarter. Raymond James Financial Inc. now owns 78,150 shares of the company’s stock worth $1,402,000 after purchasing an additional 29,503 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in ACRES Commercial Realty during the second quarter worth about $60,000. Finally, Sei Investments Co. boosted its holdings in ACRES Commercial Realty by 22.5% in the 2nd quarter. Sei Investments Co. now owns 12,314 shares of the company’s stock valued at $221,000 after purchasing an additional 2,263 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. JMP Securities boosted their price target on ACRES Commercial Realty from $22.00 to $23.50 and gave the stock a “market outperform” rating in a research report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ACRES Commercial Realty in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

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.