Key Points
- Eagle Point Credit Management sold 5,400 ACR shares on Jan. 14 at an average $24.99 (≈$134,946), reducing its stake to 358,430 shares (a 1.48% cut); across multiple recent trades it has sold roughly 31,976 shares for about $777,000.
- ACRES' board approved a $7.5 million stock buyback to repurchase up to 5.3% of shares, a move that typically signals management believes the stock is undervalued.
- Shares opened at $20.33 (down ~1.3%); analysts hold a consensus rating of "Moderate Buy" with an average price target of $24.50.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $24.99, for a total transaction of $134,946.00. Following the sale, the insider directly owned 358,430 shares in the company, valued at $8,957,165.70. The trade was a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 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 Friday, January 9th, Eagle Point Credit Management sold 3,702 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.89, for a total transaction of $92,142.78.
- 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 stock was 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 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 value 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 stock was sold at an average price of $25.22, for a total transaction of $2,496.78.
ACRES Commercial Realty Trading Down 1.3%
Shares of NYSE ACR opened at $20.33 on Friday. ACRES Commercial Realty Corp. has a 1 year low of $15.64 and a 1 year high of $24.61. 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 50-day moving average of $21.72 and a 200 day moving average of $20.56. The stock has a market cap of $148.17 million, a P/E ratio of 21.17 and a beta of 1.19.
ACRES Commercial Realty declared that its board has initiated a stock buyback plan on Wednesday, October 29th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
A number of research analysts recently weighed in on ACR shares. Wall Street Zen raised ACRES Commercial Realty from a "sell" rating to a "hold" rating in a research report on Saturday, January 10th. Citigroup restated an "outperform" rating on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citizens Jmp lifted their price target on 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. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Finally, Zacks Research raised shares of ACRES Commercial Realty to a "hold" rating in a report on Friday, December 19th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, ACRES Commercial Realty has a consensus rating of "Moderate Buy" and an average price target of $24.50.
View Our Latest Analysis on ACRES Commercial Realty
Hedge Funds Weigh In On ACRES Commercial Realty
A number of hedge funds have recently bought and sold shares of ACR. Oaktree Capital Management LP purchased a new stake in shares of ACRES Commercial Realty during the 3rd quarter valued at about $8,282,000. Geode Capital Management LLC boosted its holdings in ACRES Commercial Realty by 125.1% in the second quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock worth $2,476,000 after purchasing an additional 76,688 shares during the last quarter. Gratia Capital LLC grew its position in ACRES Commercial Realty by 64.3% in the 2nd quarter. Gratia Capital LLC now owns 125,994 shares of the company's stock worth $2,260,000 after purchasing an additional 49,312 shares during the period. Raymond James Financial Inc. grew its position in ACRES Commercial Realty by 60.6% in the 2nd quarter. Raymond James Financial Inc. now owns 78,150 shares of the company's stock worth $1,402,000 after purchasing an additional 29,503 shares during the period. Finally, Acadian Asset Management LLC raised its stake in ACRES Commercial Realty by 16.8% during the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock valued at $3,272,000 after buying an additional 26,226 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
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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