ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 5,981 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.37, for a total value of $145,756.97. Following the sale, the insider directly owned 339,325 shares of the company’s stock, valued at $8,269,350.25. The trade was a 1.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was 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 stock was 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 stock was 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.
- On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.41, for a total value of $147,530.46.
- On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $9,090.00.
- On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $24,221.40.
ACRES Commercial Realty Stock Performance
ACRES Commercial Realty stock traded up $0.53 during trading hours on Wednesday, reaching $16.47. 67,402 shares of the company were exchanged, compared to its average volume of 22,938. The firm has a market cap of $117.41 million, a price-to-earnings ratio of 25.33 and a beta of 1.07. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. The stock has a 50-day moving average of $19.85 and a 200 day moving average of $20.07. ACRES Commercial Realty Corp. has a 12 month low of $15.61 and a 12 month high of $24.61.
Institutional Investors Weigh In On ACRES Commercial Realty
A number of institutional investors have recently added to or reduced their stakes in the stock. Eagle Point Credit Management LLC acquired a new stake in ACRES Commercial Realty during the fourth quarter valued at approximately $25,118,000. Oaktree Capital Management LP acquired a new position in ACRES Commercial Realty during the third quarter worth $8,282,000. Vanguard Group Inc. raised its stake in ACRES Commercial Realty by 3.1% during the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company’s stock worth $8,119,000 after acquiring an additional 11,465 shares in the last quarter. Geode Capital Management LLC raised its stake in ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company’s stock worth $2,476,000 after acquiring an additional 76,688 shares in the last quarter. Finally, State Street Corp raised its stake in ACRES Commercial Realty by 8.5% during the fourth quarter. State Street Corp now owns 86,053 shares of the company’s stock worth $1,836,000 after acquiring an additional 6,713 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Weiss Ratings raised ACRES Commercial Realty from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded ACRES Commercial Realty from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.
View Our Latest Stock Report on ACRES Commercial Realty
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.
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