Eagle Point Credit Management Sells 2,388 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,388 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $25.20, for a total transaction of $60,177.60. Following the sale, the insider now directly owns 426,358 shares of the company’s stock, valued at $10,744,221.60. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, December 20th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total transaction of $2,520.00.
• On Wednesday, December 18th, Eagle Point Credit Management sold 6,816 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.77, for a total transaction of $168,832.32.
• On Monday, December 16th, Eagle Point Credit Management sold 4,186 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.13, for a total transaction of $105,194.18.
• On Friday, December 13th, Eagle Point Credit Management sold 130 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $23.06, for a total value of $2,997.80.
• On Wednesday, December 11th, Eagle Point Credit Management sold 3,650 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.59, for a total value of $89,753.50.
• On Monday, December 9th, Eagle Point Credit Management sold 1,241 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.18, for a total value of $31,248.38.
• On Friday, December 6th, Eagle Point Credit Management sold 4,098 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.18, for a total transaction of $103,187.64.
• On Wednesday, December 4th, Eagle Point Credit Management sold 647 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.11, for a total transaction of $16,246.17.
• On Monday, December 2nd, Eagle Point Credit Management sold 3,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $95,873.14.
• On Friday, November 29th, Eagle Point Credit Management sold 1,936 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $48,690.40.

ACRES Commercial Realty Price Performance

Shares of NYSE ACR opened at $16.17 on Friday. ACRES Commercial Realty Corp. has a 1-year low of $9.41 and a 1-year high of $17.77. The firm has a market capitalization of $125.11 million, a PE ratio of 19.25 and a beta of 2.06. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84. The business’s fifty day moving average price is $16.35 and its two-hundred day moving average price is $15.25.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price target on ACRES Commercial Realty from $16.50 to $17.50 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th.

Institutional Trading of ACRES Commercial Realty

Large investors have recently modified their holdings of the company. Barclays PLC grew its position in ACRES Commercial Realty by 147.1% in the 3rd quarter. Barclays PLC now owns 3,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,083 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of ACRES Commercial Realty by 17.0% during the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock worth $267,000 after buying an additional 3,043 shares during the period. Biltmore Family Office LLC grew its holdings in ACRES Commercial Realty by 24.8% in the 3rd quarter. Biltmore Family Office LLC now owns 15,600 shares of the company’s stock worth $244,000 after buying an additional 3,100 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ACRES Commercial Realty in the 3rd quarter valued at approximately $177,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.