Insider Selling: ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $54,767.40 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 2,220 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $24.67, for a total transaction of $54,767.40. Following the sale, the insider now directly owns 652,519 shares of the company’s stock, valued at approximately $16,097,643.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Monday, July 8th, Eagle Point Credit Management sold 1,210 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.80, for a total value of $30,008.00.
• On Thursday, June 27th, Eagle Point Credit Management sold 18,464 shares of ACRES Commercial Realty stock. The stock was 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 Price Performance

Shares of ACRES Commercial Realty stock opened at $13.53 on Thursday. 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 stock has a market capitalization of $107.70 million, a price-to-earnings ratio of 19.33 and a beta of 2.04. ACRES Commercial Realty Corp. has a twelve month low of $6.62 and a twelve month high of $14.35. The company has a 50-day simple moving average of $13.06 and a two-hundred day simple moving average of $11.98.

ACRES Commercial Realty (NYSE:ACR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). The business had revenue of $18.77 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.42 EPS. Analysts forecast that ACRES Commercial Realty Corp. will post 1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ACRES Commercial Realty

A number of institutional investors have recently bought and sold shares of ACR. Janney Montgomery Scott LLC bought a new stake in ACRES Commercial Realty in the 1st quarter valued at about $172,000. O Shaughnessy Asset Management LLC bought a new stake in ACRES Commercial Realty in the 1st quarter valued at about $580,000. Acadian Asset Management LLC boosted its holdings in 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 approximately $3,729,000. Institutional investors 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.