ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $175,195.05 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 7,005 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $25.01, for a total value of $175,195.05. Following the transaction, the insider now directly owns 684,831 shares of the company’s stock, valued at approximately $17,127,623.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more 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, 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.

ACRES Commercial Realty Trading Up 1.4 %

ACR stock opened at $12.92 on Friday. ACRES Commercial Realty Corp. has a 1-year low of $6.62 and a 1-year high of $14.35. The firm has a market cap of $102.80 million, a P/E ratio of 18.45 and a beta of 2.02. The business’s 50 day moving average is $13.15 and its 200-day moving average is $11.73. The company has a current ratio of 90.61, a quick ratio of 90.61 and a debt-to-equity ratio of 3.67.

ACRES Commercial Realty (NYSE:ACR) last released 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). The business had revenue of $18.77 million for the quarter, compared to the consensus estimate of $13.00 million. ACRES Commercial Realty had a return on equity of 7.76% and a net margin of 28.51%. During the same quarter last year, the company earned $0.42 earnings per share. Equities analysts anticipate that ACRES Commercial Realty Corp. will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $172,000. O Shaughnessy Asset Management LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter valued at $580,000. Acadian Asset Management LLC raised its stake 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 buying an additional 16,986 shares during the period. Finally, Nokomis Capital L.L.C. acquired a new stake in ACRES Commercial Realty during the 1st quarter worth $3,729,000. 40.03% of the stock is currently owned by institutional investors.

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.