Eagle Point Credit Management Sells 3,637 Shares of ACRES Commercial Realty (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 3,637 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $22.30, for a total transaction of $81,105.10. Following the transaction, the insider owned 391,419 shares in the company, valued at $8,728,643.70. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total value of $5,030.00.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.17, for a total transaction of $7,803.84.
• On Friday, October 31st, Eagle Point Credit Management sold 2,089 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $52,621.91.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.10, for a total transaction of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total transaction of $4,414.00.
• On Tuesday, September 30th, Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.68, for a total transaction of $56,700.00.
• 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.

ACRES Commercial Realty Trading Up 0.8%

Shares of NYSE ACR opened at $21.93 on Friday. The business has a fifty day simple moving average of $20.64 and a 200-day simple moving average of $19.36. The company has a market cap of $162.82 million, a price-to-earnings ratio of -1,095.70 and a beta of 1.77. ACRES Commercial Realty Corp. has a 12 month low of $14.94 and a 12 month high of $23.81. The company has a quick ratio of 69.53, a current ratio of 69.53 and a debt-to-equity ratio of 3.01.

ACRES Commercial Realty declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 29th that permits the company to repurchase $7.50 million in shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On ACRES Commercial Realty

A number of institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in shares of ACRES Commercial Realty by 1.2% during the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company’s stock worth $3,386,000 after acquiring an additional 1,851 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in ACRES Commercial Realty in the first quarter valued at about $488,000. Informed Momentum Co LLC acquired a new position in ACRES Commercial Realty in the 1st quarter worth about $697,000. Ritholtz Wealth Management raised its stake in shares of ACRES Commercial Realty by 12.0% during the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company’s stock worth $608,000 after purchasing an additional 3,618 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of ACRES Commercial Realty by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock valued at $8,119,000 after buying an additional 11,465 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ACR. Wall Street Zen upgraded shares of ACRES Commercial Realty from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Citizens Jmp boosted their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a “market outperform” rating in a research note on Friday, October 31st. Citigroup reaffirmed an “outperform” rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ACRES Commercial Realty in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.