Eagle Point Credit Management Sells 15,096 Shares of ACRES Commercial Realty Corp. (NYSE:ACR) Stock

Posted by Michael Baxter on Aug 3rd, 2024

ACRES Commercial Realty Corp. (NYSE:ACR – Get Free Report) major shareholder Eagle Point Credit Management sold 15,096 shares of ACRES Commercial Realty stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $24.86, for a total transaction of $375,286.56. Following the sale, the insider now owns 623,594 shares of the company’s stock, valued at $15,502,546.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Monday, July 29th, Eagle Point Credit Management sold 376 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.75, for a total transaction of $9,306.00.
On Tuesday, July 23rd, Eagle Point Credit Management sold 386 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.75, for a total transaction of $9,553.50.
On Thursday, July 25th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.75, for a total transaction of $2,475.00.
On Monday, July 15th, Eagle Point Credit Management sold 679 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.67, for a total transaction of $16,750.93.
On Thursday, July 11th, Eagle Point Credit Management sold 1,900 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.63, for a total transaction of $46,797.00.
On Monday, July 8th, Eagle Point Credit Management sold 1,210 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.80, for a total transaction of $30,008.00.
On Wednesday, July 3rd, Eagle Point Credit Management sold 2,220 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.67, for a total transaction of $54,767.40.
On Thursday, June 27th, Eagle Point Credit Management sold 18,464 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.00, for a total transaction of $461,600.00.
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 Price Performance

ACR traded up $0.27 on Friday, reaching $15.10. 30,024 shares of the company’s stock were exchanged, compared to its average volume of 22,778. The stock has a market cap of $120.20 million, a PE ratio of 21.57 and a beta of 2.04. ACRES Commercial Realty Corp. has a twelve month low of $6.62 and a twelve month high of $15.20. The stock’s fifty day moving average price is $13.32 and its 200-day moving average price is $12.47. The company has a debt-to-equity ratio of 3.67, a current ratio of 90.61 and a quick ratio of 90.61.

ACRES Commercial Realty (NYSE:ACR – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share 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 analyst estimates of $13.00 million. ACRES Commercial Realty had a return on equity of 6.38% and a net margin of 24.73%. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Sell-side analysts expect that ACRES Commercial Realty Corp. will post 1.16 EPS for the current year.

Hedge Funds Weigh In On ACRES Commercial Realty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management lifted its holdings in shares of ACRES Commercial Realty by 17.0% in the 2nd quarter. Ritholtz Wealth Management now owns 20,944 shares of the company’s stock worth $267,000 after acquiring an additional 3,043 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter worth approximately $172,000. Acadian Asset Management LLC lifted its holdings in shares of ACRES Commercial Realty by 19.2% in the 1st quarter. Acadian Asset Management LLC now owns 105,420 shares of the company’s stock worth $1,480,000 after acquiring an additional 16,986 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of ACRES Commercial Realty in the 1st quarter worth approximately $580,000. Finally, Nokomis Capital L.L.C. acquired a new position in shares of ACRES Commercial Realty in the 1st quarter worth approximately $3,729,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted 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 research report on Tuesday, April 30th.

Check Out Our Latest Report on ACRES Commercial Realty

About ACRES Commercial Realty

(Get Free Report)

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.