Key Points
- Eagle Point Credit Management sold 409 shares of ACRES on Feb. 18 at $25.20 and has been trimming its position in multiple recent transactions (including 5,200 shares on Feb. 2 and 4,780 on Jan. 30), leaving it with 355,148 shares (a 0.12% decline).
- ACR traded at $18.69, below its 50- and 200-day averages (~$20.46/$20.70), with a market cap of $136.25M and a P/E of 19.47; the board has approved a $7.5 million buyback (up to 5.3% of shares).
- Analyst consensus is an average rating of Hold with an average price target of $24.50 (two Buy ratings and three Hold ratings).
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 409 shares of the company's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $25.20, for a total transaction of $10,306.80. Following the completion of the sale, the insider directly owned 355,148 shares of the company's stock, valued at $8,949,729.60. This represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more 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, February 19th, Eagle Point Credit Management sold 100 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.23, for a total transaction of $2,523.00.
- On Tuesday, February 17th, Eagle Point Credit Management sold 273 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.20, for a total transaction of $6,060.60.
- 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 value 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 Monday, February 2nd, Eagle Point Credit Management sold 5,200 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.11, for a total value of $114,972.00.
- On Friday, January 30th, Eagle Point Credit Management sold 4,780 shares of ACRES Commercial Realty stock. The shares were 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 transaction of $15,272.44.
ACRES Commercial Realty Trading Up 0.3%
Shares of ACR traded up $0.06 during trading on Friday, reaching $18.69. 5,235 shares of the company traded hands, compared to its average volume of 23,121. The stock has a 50-day simple moving average of $20.46 and a 200-day simple moving average of $20.70. The stock has a market cap of $136.25 million, a PE ratio of 19.47 and a beta of 1.19. ACRES Commercial Realty Corp. has a twelve month low of $16.51 and a twelve month 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.
ACRES Commercial Realty declared that its board has approved a stock repurchase program on Wednesday, October 29th that permits the company to buyback $7.50 million in shares. This buyback authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of ACRES Commercial Realty to a "hold" rating in a report on Friday, December 19th. Citigroup restated an "outperform" rating on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Citizens Jmp set a $24.50 price objective on ACRES Commercial Realty in a research report on Friday, October 31st. Wall Street Zen upgraded ACRES Commercial Realty from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of ACRES Commercial Realty in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, ACRES Commercial Realty currently has an average rating of "Hold" and an average price target of $24.50.
Read Our Latest Stock Report on ACR
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of ACR. Cubist Systematic Strategies LLC acquired a new stake in ACRES Commercial Realty during the 1st quarter worth $133,000. Goldman Sachs Group Inc. purchased a new position in shares of ACRES Commercial Realty during the first quarter worth about $488,000. Jane Street Group LLC increased its position in shares of ACRES Commercial Realty by 190.8% during the first quarter. Jane Street Group LLC now owns 38,434 shares of the company's stock worth $833,000 after purchasing an additional 25,216 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of ACRES Commercial Realty by 16.8% in the 2nd quarter. Acadian Asset Management LLC now owns 182,679 shares of the company's stock valued at $3,272,000 after purchasing an additional 26,226 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ACRES Commercial Realty by 125.1% in the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock valued at $2,476,000 after purchasing an additional 76,688 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
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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