Key Points
- Eagle Point Credit Management sold 2,593 shares on Nov. 12 at $22.80 for $59,120.40, leaving it with 390,550 shares (about a 0.66% reduction in its position).
- Across recent weeks Eagle Point has sold roughly 14,377 shares of ACR in multiple transactions, totaling approximately $332,000, signaling a sustained pattern of insider selling.
- ACRES approved a $7.5 million share buyback (up to 5.3% of outstanding shares), and analysts carry a consensus "Moderate Buy" with an average price target of $24.50 while the stock trades near $21.45.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 733 shares of the company's stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $25.15, for a total value of $18,434.95. Following the completion of the transaction, the insider owned 389,817 shares in the company, valued at approximately $9,803,897.55. The trade was a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- 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 Tuesday, November 11th, Eagle Point Credit Management sold 1,161 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total value of $25,774.20.
- On Friday, November 7th, Eagle Point Credit Management sold 140 shares of ACRES Commercial Realty stock. The stock was 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 value 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 value 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 shares were sold at an average price of $22.10, for a total transaction 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 transaction 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 transaction of $56,700.00.
ACRES Commercial Realty Stock Performance
ACR stock traded up $0.12 during midday trading on Friday, reaching $21.58. 10,584 shares of the company's stock traded hands, compared to its average volume of 33,563. The firm has a market capitalization of $157.23 million, a PE ratio of -1,074.46 and a beta of 1.77. The company has a 50-day moving average price of $20.67 and a two-hundred day moving average price of $19.45. ACRES Commercial Realty Corp. has a 52 week low of $14.94 and a 52 week high of $23.81. The company has a debt-to-equity ratio of 3.01, a quick ratio of 69.53 and a current ratio of 69.53.
ACRES Commercial Realty announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 29th that authorizes the company to buyback $7.50 million in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On ACRES Commercial Realty
A number of institutional investors have recently bought and sold shares of ACR. Oaktree Capital Management LP bought a new position in shares of ACRES Commercial Realty in the third quarter worth about $8,282,000. Vanguard Group Inc. boosted its position in shares of ACRES Commercial Realty by 3.1% in the third quarter. Vanguard Group Inc. now owns 383,696 shares of the company's stock worth $8,119,000 after purchasing an additional 11,465 shares during the period. Acadian Asset Management LLC increased its stake in shares of ACRES Commercial Realty by 16.8% in the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock worth $3,272,000 after purchasing an additional 26,226 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock valued at $2,476,000 after purchasing an additional 76,688 shares during the period. Finally, Gratia Capital LLC lifted its stake in shares of ACRES Commercial Realty by 64.3% during the 2nd 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. 40.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
ACR has been the topic of several analyst reports. Wall Street Zen upgraded ACRES Commercial Realty from a "strong sell" rating to a "hold" rating in a research report on Saturday, November 1st. Citizens Jmp boosted their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a "market outperform" rating in a research report on Friday, October 31st. Citigroup reissued an "outperform" rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ACRES Commercial Realty in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.
View Our Latest Research Report on ACR
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.
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