ACRES Commercial Realty Corp. (NYSE:ACR) Major Shareholder Sells $461,600.00 in Stock

ACRES Commercial Realty Corp. (NYSE:ACR) major shareholder Eagle Point Credit Management sold 18,464 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $25.00, for a total value of $461,600.00. Following the completion of the sale, the insider now owns 659,267 shares of the company’s stock, valued at approximately $16,481,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Eagle Point Credit Management also recently made the following trade(s):

• On Tuesday, June 25th, Eagle Point Credit Management sold 7,005 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.01, for a total transaction of $175,195.05.

ACRES Commercial Realty Trading Up 1.4 %

NYSE ACR opened at $12.92 on Friday. The stock has a market cap of $102.80 million, a P/E ratio of 18.45 and a beta of 2.02. ACRES Commercial Realty Corp. has a fifty-two week low of $6.62 and a fifty-two week high of $14.35. The stock has a 50 day simple moving average of $13.15 and a two-hundred day simple moving average of $11.73. The company has a debt-to-equity ratio of 3.67, a quick ratio of 90.61 and a current ratio of 90.61.

ACRES Commercial Realty (NYSE:ACR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.25). ACRES Commercial Realty had a net margin of 28.51% and a return on equity of 7.76%. The company had revenue of $18.77 million during the quarter, compared to the consensus estimate of $13.00 million. During the same quarter last year, the firm earned $0.42 EPS. On average, analysts forecast that ACRES Commercial Realty Corp. will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ACRES Commercial Realty

Several large investors have recently bought and sold shares of ACR. Nokomis Capital L.L.C. purchased a new position in ACRES Commercial Realty during the first quarter valued at $3,729,000. O Shaughnessy Asset Management LLC bought a new position in shares of ACRES Commercial Realty in the 1st quarter worth about $580,000. Acadian Asset Management LLC lifted its position 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 valued at $1,480,000 after acquiring an additional 16,986 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in ACRES Commercial Realty during the first quarter worth about $172,000. 40.03% of the stock is 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.