ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 908 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $21.80, for a total transaction of $19,794.40. Following the completion of the sale, the insider owned 715,771 shares in the company, valued at $15,603,807.80. This represents a 0.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Friday, July 31st, Eagle Point Credit Management sold 84 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total transaction of $1,831.20.
- On Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total transaction of $48,221.60.
- On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total value of $4,488.74.
- On Monday, July 27th, Eagle Point Credit Management sold 1,389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.78, for a total value of $30,252.42.
- On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $46,710.00.
- On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
- On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $21,624.03.
- On Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $5,476.05.
- On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
- On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total value of $9,516.10.
ACRES Commercial Realty Stock Performance
Shares of ACRES Commercial Realty stock traded down $1.73 during trading hours on Monday, reaching $15.78. 66,798 shares of the stock traded hands, compared to its average volume of 19,571. The company has a 50 day moving average price of $17.97 and a 200 day moving average price of $18.99. The firm has a market capitalization of $112.48 million, a price-to-earnings ratio of -14.08 and a beta of 1.08. ACRES Commercial Realty Corp. has a one year low of $15.61 and a one year high of $24.61. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36.
Institutional Investors Weigh In On ACRES Commercial Realty
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets lifted its holdings in ACRES Commercial Realty by 120.2% during the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company’s stock valued at $29,000 after purchasing an additional 739 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty in the second quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ACRES Commercial Realty in the second quarter worth $60,000. MetLife Investment Management LLC bought a new stake in shares of ACRES Commercial Realty during the 4th quarter valued at $76,000. Finally, Bank of America Corp DE raised its position in shares of ACRES Commercial Realty by 110.4% during the 2nd 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. Institutional investors own 40.03% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on ACR shares. Weiss Ratings raised shares of ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen cut shares of ACRES Commercial Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Finally, Zacks Research downgraded shares of ACRES Commercial Realty from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of “Hold” and a consensus price target of $24.50.
View Our Latest Research Report on ACRES Commercial Realty
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.
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