ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $19,172.30 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 854 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $22.45, for a total transaction of $19,172.30. Following the transaction, the insider now owns 865,612 shares of the company’s stock, valued at approximately $19,432,989.40. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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, March 19th, Eagle Point Credit Management sold 9,937 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.08, for a total value of $229,345.96.
• On Thursday, March 13th, Eagle Point Credit Management sold 8,657 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.47, for a total value of $194,522.79.
• On Thursday, January 30th, Eagle Point Credit Management sold 811 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.90, for a total value of $20,193.90.
• On Wednesday, January 22nd, Eagle Point Credit Management sold 7,335 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.40, for a total transaction of $164,304.00.
• On Monday, December 30th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.20, for a total value of $5,040.00.
• On Thursday, December 26th, Eagle Point Credit Management sold 420 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $10,584.00.

ACRES Commercial Realty Stock Down 3.0 %

Shares of ACR traded down $0.66 during midday trading on Wednesday, hitting $21.24. The company had a trading volume of 58,743 shares, compared to its average volume of 21,193. The company’s 50-day simple moving average is $19.76 and its 200-day simple moving average is $17.43. The company has a debt-to-equity ratio of 3.33, a quick ratio of 73.84 and a current ratio of 73.84. ACRES Commercial Realty Corp. has a 1 year low of $12.33 and a 1 year high of $23.81. The firm has a market capitalization of $158.37 million, a P/E ratio of 25.29 and a beta of 2.12.

Analyst Upgrades and Downgrades

ACR has been the subject of several recent research reports. JMP Securities lifted their price target on ACRES Commercial Realty to $22.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Jones Trading reiterated a “hold” rating on shares of ACRES Commercial Realty in a research report on Thursday, March 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACR. Barclays PLC lifted its stake in shares of 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 acquiring an additional 2,083 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ACRES Commercial Realty in the 3rd quarter valued at about $177,000. Northern Trust Corp lifted its stake in shares of ACRES Commercial Realty by 32.5% during the fourth quarter. Northern Trust Corp now owns 39,671 shares of the company’s stock valued at $641,000 after buying an additional 9,738 shares during the period. Nokomis Capital L.L.C. boosted its stake in ACRES Commercial Realty by 1.1% in the 4th quarter. Nokomis Capital L.L.C. now owns 264,597 shares of the company’s stock worth $4,273,000 after buying an additional 2,889 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in ACRES Commercial Realty in the fourth quarter valued at approximately $829,000. 40.03% of the stock is owned by hedge funds and other 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.