Key Points
- Eagle Point Credit Management sold 4,780 ACRES shares on Jan. 30 at an average price of $23.89, leaving it with 355,562 shares and reducing its stake by about 1.33%.
- Those sales are part of a sustained December–January selling run totaling roughly 35,861 shares across multiple transactions, signaling a notable reduction in Eagle Point's holdings.
- ACRES has meanwhile authorized a $7.5 million share buyback (up to 5.3% of shares); the stock recently opened near $19.23, trades in a $16.51–$24.61 52-week range, and has a market cap of about $140 million.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 4,780 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $23.89, for a total value of $114,194.20. Following the completion of the transaction, the insider directly owned 355,562 shares in the company, valued at $8,494,376.18. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 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 Thursday, January 29th, Eagle Point Credit Management sold 53 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total value of $1,171.30.
- On Wednesday, January 28th, Eagle Point Credit Management sold 201 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.10, for a total transaction of $4,442.10.
- On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.02, for a total transaction of $24,222.00.
- On Wednesday, January 21st, Eagle Point Credit Management sold 692 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total transaction of $15,272.44.
- On Wednesday, January 14th, Eagle Point Credit Management sold 5,400 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.99, for a total transaction of $134,946.00.
- 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 transaction 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 transaction 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.
ACRES Commercial Realty Stock Down 1.5%
Shares of ACR opened at $19.23 on Friday. ACRES Commercial Realty Corp. has a 52 week low of $16.51 and a 52 week high of $24.61. The company has a quick ratio of 104.99, a current ratio of 104.99 and a debt-to-equity ratio of 2.73. The company has a market capitalization of $140.09 million, a price-to-earnings ratio of 20.03 and a beta of 1.19. The stock's 50-day moving average price is $21.44 and its 200-day moving average price is $20.68.
ACRES Commercial Realty declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 29th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in ACRES Commercial Realty in the 1st quarter worth about $133,000. Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty in the first quarter valued at approximately $488,000. Jane Street Group LLC boosted its stake in shares of ACRES Commercial Realty by 190.8% in the first quarter. Jane Street Group LLC now owns 38,434 shares of the company's stock worth $833,000 after acquiring an additional 25,216 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of ACRES Commercial Realty by 12.0% in the second quarter. Ritholtz Wealth Management now owns 33,889 shares of the company's stock worth $608,000 after acquiring an additional 3,618 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of ACRES Commercial Realty by 16.8% during the second quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock worth $3,272,000 after purchasing an additional 26,226 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
ACR has been the subject of several recent research reports. Wall Street Zen raised shares of ACRES Commercial Realty from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Zacks Research upgraded shares of ACRES Commercial Realty to a "hold" rating in a research report on Friday, December 19th. JMP Securities set a $24.50 price objective on shares of ACRES Commercial Realty in a report on Friday, October 31st. Citigroup reissued an "outperform" rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of ACRES Commercial Realty in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, ACRES Commercial Realty has an average rating of "Moderate Buy" and an average target price of $24.50.
Read Our Latest Report on ACR
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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