Key Points
- Eagle Point Credit Management sold 1,258 shares of ACRES on Dec. 11 at an average price of $23.82, trimming its stake by 0.33% to 381,511 shares (valued ~ $9.09M), and has executed multiple recent sales including a 5,054-share block on Dec. 1, indicating ongoing insider selling.
- ACRES is trading around $23.78 with a market cap of $173.25M, a P/E of 24.77 and a 52-week range of $14.94–$24.17, while institutional investors own about 40.03% of the stock.
- The Board authorized a $7.5M share repurchase (up to 5.3% of shares), and analysts have a consensus rating of “Moderate Buy” with a consensus target price of $24.50.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,258 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.82, for a total value of $29,965.56. Following the transaction, the insider owned 381,511 shares of the company's stock, valued at approximately $9,087,592.02. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $2,537.64.
- On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.24, for a total value of $2,473.52.
- On Friday, December 5th, Eagle Point Credit Management sold 99 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.22, for a total value of $2,496.78.
- On Thursday, December 4th, Eagle Point Credit Management sold 48 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.22, for a total value of $1,210.56.
- On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total transaction of $127,360.80.
- On Friday, November 28th, Eagle Point Credit Management sold 913 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.19, for a total transaction of $22,998.47.
- On Monday, November 24th, Eagle Point Credit Management sold 723 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.19, for a total transaction of $18,212.37.
- On Monday, November 17th, Eagle Point Credit Management sold 718 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.17, for a total transaction of $18,072.06.
- On Thursday, November 13th, Eagle Point Credit Management sold 733 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.15, for a total transaction of $18,434.95.
- On Wednesday, November 12th, Eagle Point Credit Management sold 2,593 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.80, for a total transaction of $59,120.40.
ACRES Commercial Realty Trading Up 0.3%
ACRES Commercial Realty stock opened at $23.78 on Friday. The company has a market cap of $173.25 million, a price-to-earnings ratio of 24.77 and a beta of 1.21. The firm has a 50-day moving average of $21.06 and a 200-day moving average of $19.93. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. ACRES Commercial Realty Corp. has a one year low of $14.94 and a one year high of $24.17.
ACRES Commercial Realty declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 29th that authorizes the company to buyback $7.50 million in shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.
Institutional Investors Weigh In On ACRES Commercial Realty
Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in ACRES Commercial Realty by 120.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock valued at $29,000 after purchasing an additional 739 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of ACRES Commercial Realty in the second quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth about $60,000. Bank of America Corp DE lifted its stake in shares of ACRES Commercial Realty by 110.4% during the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock worth $66,000 after buying an additional 1,926 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth about $93,000. Institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on ACR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ACRES Commercial Realty in a research report on Monday. Citigroup reissued an "outperform" rating on shares of ACRES Commercial Realty in a research note 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 note on Friday, October 31st. Finally, Citizens Jmp lifted 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 research report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.50.
Get Our Latest Stock 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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