Eagle Point Credit Management Buys 8,603 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

Posted by MarketBeat News on May 21st, 2023

ACRES Commercial Realty Corp. (NYSE:ACR – Get Rating) major shareholder Eagle Point Credit Management bought 8,603 shares of ACRES Commercial Realty stock in a transaction dated Thursday, May 18th. The stock was acquired at an average cost of $19.73 per share, for a total transaction of $169,737.19. Following the purchase, the insider now directly owns 958,334 shares in the company, valued at approximately $18,907,929.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% 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, May 15th, Eagle Point Credit Management purchased 1,113 shares of ACRES Commercial Realty stock. The stock was purchased at an average price of $17.00 per share, for a total transaction of $18,921.00.
On Thursday, May 11th, Eagle Point Credit Management purchased 6,884 shares of ACRES Commercial Realty stock. The stock was purchased at an average price of $17.07 per share, for a total transaction of $117,509.88.
On Monday, May 8th, Eagle Point Credit Management purchased 2,100 shares of ACRES Commercial Realty stock. The stock was purchased at an average price of $19.80 per share, for a total transaction of $41,580.00.
On Friday, May 5th, Eagle Point Credit Management purchased 548 shares of ACRES Commercial Realty stock. The stock was purchased at an average price of $19.22 per share, for a total transaction of $10,532.56.
On Wednesday, May 3rd, Eagle Point Credit Management purchased 1,000 shares of ACRES Commercial Realty stock. The stock was purchased at an average price of $19.99 per share, for a total transaction of $19,990.00.
On Thursday, April 27th, Eagle Point Credit Management bought 245 shares of ACRES Commercial Realty stock. The shares were bought at an average price of $18.00 per share, for a total transaction of $4,410.00.
On Wednesday, April 19th, Eagle Point Credit Management bought 133 shares of ACRES Commercial Realty stock. The shares were bought at an average price of $18.00 per share, for a total transaction of $2,394.00.
On Monday, April 17th, Eagle Point Credit Management bought 1,549 shares of ACRES Commercial Realty stock. The shares were bought at an average price of $19.30 per share, for a total transaction of $29,895.70.
On Thursday, April 6th, Eagle Point Credit Management bought 1,466 shares of ACRES Commercial Realty stock. The shares were bought at an average price of $20.00 per share, for a total transaction of $29,320.00.
On Friday, March 24th, Eagle Point Credit Management bought 445 shares of ACRES Commercial Realty stock. The shares were bought at an average price of $20.14 per share, for a total transaction of $8,962.30.

ACRES Commercial Realty Stock Down 2.4 %

NYSE ACR opened at $8.31 on Friday. The company has a current ratio of 112.06, a quick ratio of 112.06 and a debt-to-equity ratio of 4.10. ACRES Commercial Realty Corp. has a 12-month low of $7.23 and a 12-month high of $10.72. The firm’s 50 day moving average is $9.10 and its 200-day moving average is $9.33.

Hedge Funds Weigh In On ACRES Commercial Realty

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Hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new position in shares of ACRES Commercial Realty in the first quarter valued at $104,000. First Republic Investment Management Inc. bought a new position in shares of ACRES Commercial Realty in the first quarter valued at $130,000. Millennium Management LLC bought a new position in shares of ACRES Commercial Realty in the second quarter valued at $162,000. Ancora Advisors LLC grew its stake in shares of ACRES Commercial Realty by 2,942.3% in the first quarter. Ancora Advisors LLC now owns 19,471 shares of the company’s stock valued at $284,000 after buying an additional 18,831 shares in the last quarter. Finally, State Street Corp grew its stake in shares of ACRES Commercial Realty by 3.6% in the first quarter. State Street Corp now owns 35,209 shares of the company’s stock valued at $472,000 after buying an additional 1,225 shares in the last quarter. 23.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ACR has been the topic of several research analyst reports. Raymond James raised their target price on shares of ACRES Commercial Realty from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Monday, March 13th. JMP Securities reiterated a “market outperform” rating and issued a $14.00 price objective on shares of ACRES Commercial Realty in a report on Friday, March 3rd.

About ACRES Commercial Realty

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ACRES Commercial Realty Corp. is a real estate investment trust, which engages in the origination, holding, and management of commercial mortgage loans, and commercial real estate related debt investments. The company was founded in 2005 and is headquartered in New York, NY.