Key Points
- Eagle Point Credit Management sold 455 ACRES shares on Dec. 24 at an average of $22.30 and has made multiple disposals in Nov–Dec (including a 5,054-share sale on Dec. 1); after the trade it directly owns 760,391 shares, a 0.06% reduction valued at about $16.96M.
- ACRES stock opened at $21.47 (down 0.8%), and the company has authorized a $7.5 million share buyback—up to roughly 5.3% of outstanding shares—suggesting management views the shares as undervalued.
- Analyst coverage is mixed-to-positive with a consensus rating of "Moderate Buy" and a consensus price target of $24.50 (three Buy and three Hold ratings).
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 455 shares of the firm's stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $22.30, for a total value of $10,146.50. Following the sale, the insider directly owned 760,391 shares in the company, valued at $16,956,719.30. This trade represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% 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 Tuesday, December 23rd, Eagle Point Credit Management sold 499 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total value of $11,107.74.
- On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.26, for a total transaction of $30,540.72.
- On Friday, December 12th, Eagle Point Credit Management sold 114 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.26, for a total transaction of $2,537.64.
- On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.82, for a total transaction of $29,965.56.
- On Wednesday, December 10th, Eagle Point Credit Management sold 98 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.24, for a total transaction 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 transaction 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 transaction of $1,210.56.
- On Monday, December 1st, Eagle Point Credit Management sold 5,054 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $25.19, for a total value 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 value of $18,212.37.
ACRES Commercial Realty Stock Down 0.8%
ACRES Commercial Realty stock opened at $21.47 on Tuesday. The company has a market capitalization of $156.52 million, a P/E ratio of 22.36 and a beta of 1.21. The company has a debt-to-equity ratio of 2.73, a quick ratio of 104.99 and a current ratio of 104.99. ACRES Commercial Realty Corp. has a fifty-two week low of $15.64 and a fifty-two week high of $24.61. The stock has a 50-day simple moving average of $21.65 and a 200-day simple moving average of $20.31.
ACRES Commercial Realty declared that its board has approved a stock repurchase program on Wednesday, October 29th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On ACRES Commercial Realty
Several institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in ACRES Commercial Realty during the 1st quarter worth $133,000. Goldman Sachs Group Inc. purchased a new position in ACRES Commercial Realty during the first quarter worth about $488,000. Jane Street Group LLC lifted its position in ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company's stock valued at $833,000 after purchasing an additional 25,216 shares during the period. Acadian Asset Management LLC boosted its holdings in ACRES Commercial Realty by 1.2% in the 1st quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after purchasing an additional 1,851 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in ACRES Commercial Realty by 12.0% in the 2nd quarter. Ritholtz Wealth Management now owns 33,889 shares of the company's stock valued at $608,000 after purchasing an additional 3,618 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ACR has been the topic of a number of research reports. JMP Securities set a $24.50 target price on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of ACRES Commercial Realty in a research note on Monday, December 22nd. Zacks Research upgraded shares of ACRES Commercial Realty to a "hold" rating in a research note on Friday, December 19th. Citizens Jmp upped their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the company a "market outperform" rating in a report on Friday, October 31st. Finally, Citigroup reissued an "outperform" rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.
Check Out Our Latest Research Report on ACRES Commercial Realty
ACRES Commercial Realty Company Profile
(
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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