ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Eagle Point Credit Management Sells 4,098 Shares

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 4,098 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $25.18, for a total value of $103,187.64. Following the sale, the insider now directly owns 454,456 shares in the company, valued at approximately $11,443,202.08. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% 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 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 shares were sold at an average price of $25.15, for a total value of $48,690.40.
• On Monday, November 25th, Eagle Point Credit Management sold 4,182 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.14, for a total value of $105,135.48.
• On Thursday, November 21st, Eagle Point Credit Management sold 1,674 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.11, for a total value of $42,034.14.
• On Monday, November 18th, Eagle Point Credit Management sold 1,923 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.06, for a total value of $48,190.38.
• On Friday, November 15th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.04, for a total transaction of $10,516.80.
• On Monday, November 11th, Eagle Point Credit Management sold 2,625 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.00, for a total transaction of $65,625.00.
• On Thursday, November 7th, Eagle Point Credit Management sold 1,312 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.97, for a total transaction of $32,760.64.
• On Monday, November 4th, Eagle Point Credit Management sold 129 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.94, for a total transaction of $3,217.26.

ACRES Commercial Realty Stock Performance

ACRES Commercial Realty stock opened at $17.40 on Tuesday. The business has a 50 day moving average of $16.13 and a 200-day moving average of $14.95. The company has a market capitalization of $134.68 million, a P/E ratio of 20.71 and a beta of 2.06. ACRES Commercial Realty Corp. has a 1 year low of $8.12 and a 1 year high of $17.77. The company has a debt-to-equity ratio of 3.33, a current ratio of 73.84 and a quick ratio of 73.84.

Hedge Funds Weigh In On ACRES Commercial Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of ACRES Commercial Realty by 147.1% during the third 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 period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ACRES Commercial Realty during the 3rd quarter worth about $177,000. Biltmore Family Office LLC bought a new stake in shares of ACRES Commercial Realty in the 2nd quarter valued at about $160,000. Finally, Ritholtz Wealth Management increased its stake in shares of ACRES Commercial Realty by 17.0% in the second quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock valued at $267,000 after buying an additional 3,043 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.