Key Points
- Eagle Point Credit Management sold 5,200 shares of ACRES on Feb. 2 at an average price of $22.11 for $114,972 and now directly owns 746,233 shares valued at about $16.5 million.
- The firm has been actively trimming its position, selling roughly 35,253 shares across multiple transactions from Jan. 9 to Feb. 4 at prices mostly between ~$22–$25, totaling several hundred thousand dollars.
- ACRES' board has authorized a $7.5 million share repurchase plan (up to 5.3% of shares), and analysts hold a "Moderate Buy" consensus with a $24.50 average target.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 5,200 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $22.11, for a total value of $114,972.00. Following the completion of the sale, the insider directly owned 746,233 shares in the company, valued at $16,499,211.63. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 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 Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.12, for a total transaction of $2,145.64.
- On Tuesday, February 3rd, Eagle Point Credit Management sold 49 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.42, for a total value of $1,098.58.
- On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $23.89, for a total value of $114,194.20.
- 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 value of $4,442.10.
- On Friday, January 23rd, Eagle Point Credit Management sold 1,100 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $22.07, for a total value 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 value of $92,142.78.
- On Tuesday, January 13th, Eagle Point Credit Management sold 13,979 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.93, for a total transaction of $348,496.47.
ACRES Commercial Realty Price Performance
Shares of ACRES Commercial Realty stock opened at $18.88 on Thursday. 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 $137.60 million, a price-to-earnings ratio of 19.66 and a beta of 1.19. The stock's 50-day simple moving average is $21.33 and its 200-day simple moving average is $20.74.
ACRES Commercial Realty announced that its board has initiated a stock repurchase 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 often a sign that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock valued at $29,000 after buying an additional 739 shares during the last quarter. Bank of America Corp DE grew its position in ACRES Commercial Realty by 110.4% during 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 during the last quarter. Raymond James Financial Inc. increased its stake in ACRES Commercial Realty by 2.5% during the 3rd quarter. Raymond James Financial Inc. now owns 80,129 shares of the company's stock valued at $1,696,000 after purchasing an additional 1,979 shares in the last quarter. Ritholtz Wealth Management increased its stake in ACRES Commercial Realty by 5.2% during the 4th quarter. Ritholtz Wealth Management now owns 42,300 shares of the company's stock valued at $903,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of ACRES Commercial Realty by 22.5% in the second quarter. Sei Investments Co. now owns 12,314 shares of the company's stock worth $221,000 after buying an additional 2,263 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ACR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of ACRES Commercial Realty from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Weiss Ratings reissued a "hold (c)" rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Citigroup reiterated an "outperform" rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp boosted 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 research note on Friday, October 31st. Finally, JMP Securities set a $24.50 price target on shares of ACRES Commercial Realty in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.50.
Get Our Latest 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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