Key Points
- Eagle Point Credit Management sold 5,000 ACRES shares on Dec. 31 at an average price of $22.41 for $112,050, reducing its stake to 755,391 shares (a 0.66% decline), per an SEC filing.
- The firm has been steadily trimming its position through multiple December sales (including 5,054 shares on Dec. 1), indicating an ongoing reduction rather than a one-off trade.
- ACRES has a $7.5 million share buyback authorization (up to 5.3% of shares); the company’s market cap is about $149 million and analysts have a consensus rating of Moderate Buy with an average target of $24.50.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 5,000 shares of the business's stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $22.41, for a total value of $112,050.00. Following the transaction, the insider owned 755,391 shares in the company, valued at approximately $16,928,312.31. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% 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 Wednesday, December 24th, Eagle Point Credit Management sold 455 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.30, for a total value of $10,146.50.
- 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 value 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 value of $2,537.64.
- On Thursday, December 11th, Eagle Point Credit Management sold 1,258 shares of ACRES Commercial Realty stock. The shares were 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 shares were sold at an average price of $25.19, for a total transaction of $22,998.47.
ACRES Commercial Realty Stock Performance
Shares of ACR opened at $20.43 on Tuesday. The company has a 50-day simple moving average of $21.82 and a two-hundred day simple moving average of $20.42. The company has a debt-to-equity ratio of 2.73, a current ratio of 104.99 and a quick ratio of 104.99. The firm has a market capitalization of $148.91 million, a PE ratio of 21.28 and a beta of 1.19. ACRES Commercial Realty Corp. has a one year low of $15.64 and a one year high of $24.61.
ACRES Commercial Realty declared that its board has approved a share buyback plan on Wednesday, October 29th that permits the company to repurchase $7.50 million in shares. This repurchase authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Institutional Trading of ACRES Commercial Realty
Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of ACRES Commercial Realty by 177.8% in the third quarter. JPMorgan Chase & Co. now owns 8,082 shares of the company's stock worth $171,000 after buying an additional 5,173 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of ACRES Commercial Realty by 2.5% during the third quarter. Raymond James Financial Inc. now owns 80,129 shares of the company's stock valued at $1,696,000 after acquiring an additional 1,979 shares in the last quarter. Oaktree Capital Management LP purchased a new position in ACRES Commercial Realty in the 3rd quarter worth approximately $8,282,000. BNP Paribas Financial Markets lifted its position in ACRES Commercial Realty by 120.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock valued at $29,000 after acquiring an additional 739 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in ACRES Commercial Realty by 68.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,835 shares of the company's stock valued at $186,000 after acquiring an additional 3,587 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on ACR shares. Weiss Ratings reiterated a "hold (c)" rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Citizens Jmp upped their target price on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a "market outperform" rating in a research report on Friday, October 31st. Zacks Research upgraded shares of ACRES Commercial Realty to a "hold" rating in a research note on Friday, December 19th. Citigroup reissued an "outperform" rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Wall Street Zen cut shares of ACRES Commercial Realty from a "hold" rating to a "sell" rating in a report on Saturday, December 20th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.50.
Read Our Latest Stock 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.
Further Reading
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