Eagle Point Credit Management Sells 1,210 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 1,210 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $24.80, for a total value of $30,008.00. Following the sale, the insider now directly owns 651,309 shares in the company, valued at approximately $16,152,463.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Wednesday, July 3rd, Eagle Point Credit Management sold 2,220 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.67, for a total value of $54,767.40.
• 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 value of $461,600.00.
• On Tuesday, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.01, for a total value of $175,195.05.

ACRES Commercial Realty Trading Up 2.9 %

Shares of ACR stock opened at $13.53 on Thursday. ACRES Commercial Realty Corp. has a fifty-two week low of $6.62 and a fifty-two week high of $14.35. The company has a market cap of $107.70 million, a PE ratio of 19.33 and a beta of 2.04. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.61 and a current ratio of 90.61. The stock’s fifty day moving average price is $13.06 and its two-hundred day moving average price is $11.98.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

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

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.