Key Points
- Eagle Point Credit Management has been selling ACRES shares, most recently 3,702 shares on Jan. 9 at $24.89, totaling roughly 26,624 shares sold in recent weeks and reducing its holding to 377,809 shares (a 0.97% decrease).
- The company's Board authorized a $7.5 million share buyback, enabling repurchases of up to 5.3% of outstanding shares, a move that typically signals management believes the stock may be undervalued.
- ACR trades around $20.04 with a 52-week range of $15.64–$24.61 and a market cap near $146 million; analysts have a consensus rating of Moderate Buy and a $24.50 target price.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 3,702 shares of the business's stock in a transaction on Friday, January 9th. The stock was sold at an average price of $24.89, for a total value of $92,142.78. Following the completion of the transaction, the insider directly owned 377,809 shares of the company's stock, valued at approximately $9,403,666.01. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 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, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.93, for a total value of $348,496.47.
- On Wednesday, December 31st, Eagle Point Credit Management sold 5,000 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.41, for a total value of $112,050.00.
- 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 transaction 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 transaction of $11,107.74.
- On Monday, December 15th, Eagle Point Credit Management sold 1,372 shares of ACRES Commercial Realty stock. The stock was 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 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 stock was 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 stock was 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.
ACRES Commercial Realty Stock Down 1.8%
Shares of ACR stock opened at $20.04 on Wednesday. The stock's fifty day moving average price is $21.81 and its 200 day moving average price is $20.54. ACRES Commercial Realty Corp. has a 1-year low of $15.64 and a 1-year high of $24.61. The company has a market cap of $146.06 million, a price-to-earnings ratio of 20.87 and a beta of 1.19. 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 announced that its Board of Directors has authorized a share buyback program on Wednesday, October 29th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of analysts recently commented on ACR shares. Wall Street Zen upgraded shares of ACRES Commercial Realty from a "sell" rating to a "hold" rating in a research note on Saturday. Citizens Jmp raised their price target on shares of ACRES Commercial Realty from $23.50 to $24.50 and gave the stock a "market outperform" rating in a 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. Weiss Ratings reissued a "hold (c)" rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Finally, JMP Securities set a $24.50 target price on ACRES Commercial Realty in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.
Read Our Latest Analysis on ACR
Institutional Trading of ACRES Commercial Realty
Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock worth $29,000 after buying an additional 739 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in ACRES Commercial Realty by 1.2% in the first quarter. Acadian Asset Management LLC now owns 156,453 shares of the company's stock valued at $3,386,000 after acquiring an additional 1,851 shares during the period. Bank of America Corp DE boosted its position in ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock worth $66,000 after purchasing an additional 1,926 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company's stock worth $1,696,000 after purchasing an additional 1,979 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of ACRES Commercial Realty by 22.5% during the 2nd quarter. Sei Investments Co. now owns 12,314 shares of the company's stock valued at $221,000 after purchasing an additional 2,263 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
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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