ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 7,005 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 7,005 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $25.01, for a total transaction of $175,195.05. Following the sale, the insider now directly owns 684,831 shares of the company’s stock, valued at approximately $17,127,623.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Thursday, June 27th, Eagle Point Credit Management sold 18,464 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.00, for a total transaction of $461,600.00.

ACRES Commercial Realty Stock Up 1.4 %

Shares of ACRES Commercial Realty stock traded up $0.17 on Thursday, hitting $12.92. 10,433 shares of the company’s stock traded hands, compared to its average volume of 24,329. The stock has a market cap of $102.80 million, a P/E ratio of 18.45 and a beta of 2.02. The company has a quick ratio of 90.61, a current ratio of 90.61 and a debt-to-equity ratio of 3.67. The firm’s 50-day moving average is $13.15 and its 200 day moving average is $11.73. ACRES Commercial Realty Corp. has a 52-week low of $6.62 and a 52-week high of $14.35.

ACRES Commercial Realty (NYSE:ACR) last released its earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.25). The business had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $13.00 million. ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. During the same quarter last year, the company posted $0.42 earnings per share. Equities analysts anticipate that ACRES Commercial Realty Corp. will post 1.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $172,000. O Shaughnessy Asset Management LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $580,000. Acadian Asset Management LLC boosted its position in shares of ACRES Commercial Realty by 19.2% in the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock valued at $1,480,000 after purchasing an additional 16,986 shares during the period. Finally, Nokomis Capital L.L.C. acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $3,729,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JMP Securities increased their price objective on shares of ACRES Commercial Realty from $14.00 to $15.50 and gave the company a “market outperform” rating in a research report on Tuesday, April 30th.

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.