ACRES Commercial Realty (NYSE:ACR) Major Shareholder Sells $25,774.20 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,161 shares of the firm's stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $22.20, for a total value of $25,774.20. Following the completion of the transaction, the insider owned 765,500 shares in the company, valued at approximately $16,994,100. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large 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 Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total value of $18,434.95.
• On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.80, for a total value of $59,120.40.
• On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total value of $3,521.00.
• On Thursday, November 6th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.15, for a total transaction of $5,030.00.
• On Wednesday, November 5th, Eagle Point Credit Management sold 3,637 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.30, for a total transaction of $81,105.10.
• On Tuesday, November 4th, Eagle Point Credit Management sold 352 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.17, for a total transaction of $7,803.84.
• On Friday, October 31st, Eagle Point Credit Management sold 2,089 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $52,621.91.
• On Wednesday, October 29th, Eagle Point Credit Management sold 772 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $17,061.20.
• On Tuesday, October 28th, Eagle Point Credit Management sold 200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $4,414.00.
• On Tuesday, September 30th, Eagle Point Credit Management sold 2,500 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.68, for a total value of $56,700.00.

ACRES Commercial Realty Trading Down 0.4%

ACRES Commercial Realty stock traded down $0.09 during trading on Thursday, reaching $21.42. 22,826 shares of the company were exchanged, compared to its average volume of 33,669. The stock's 50 day simple moving average is $20.67 and its two-hundred day simple moving average is $19.45. The company has a market capitalization of $156.07 million, a P/E ratio of -1,070.51 and a beta of 1.77. The company has a debt-to-equity ratio of 3.01, a current ratio of 69.53 and a quick ratio of 69.53. ACRES Commercial Realty Corp. has a 52-week low of $14.94 and a 52-week high of $23.81.

ACRES Commercial Realty declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 29th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of ACRES Commercial Realty

Several institutional investors have recently added to or reduced their stakes in the stock. Oaktree Capital Management LP purchased a new stake in ACRES Commercial Realty in the third quarter valued at approximately $8,282,000. Geode Capital Management LLC boosted its position in shares of ACRES Commercial Realty by 125.1% during the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock worth $2,476,000 after buying an additional 76,688 shares during the period. Gratia Capital LLC grew its stake in shares of ACRES Commercial Realty by 64.3% in the second quarter. Gratia Capital LLC now owns 125,994 shares of the company's stock valued at $2,260,000 after buying an additional 49,312 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in shares of ACRES Commercial Realty in the 1st quarter valued at $697,000. Finally, Raymond James Financial Inc. raised its holdings in shares of ACRES Commercial Realty by 60.6% in the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company's stock valued at $1,402,000 after buying an additional 29,503 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citizens Jmp upped their price objective on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a "market outperform" rating in a report on Friday, October 31st. Citigroup reiterated an "outperform" rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Wall Street Zen upgraded shares of ACRES Commercial Realty from a "strong sell" rating to a "hold" rating in a report on Saturday, November 1st. JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of ACRES Commercial Realty in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, ACRES Commercial Realty has an average rating of "Moderate Buy" and an average target price of $24.50.

Check Out Our Latest Stock Analysis on ACR

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.

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