Key Points
- Eagle Point Credit Management has been actively selling ACRES shares, including 600 shares on Feb. 24 at $25.25, trimming its stake to 354,448 shares (~$8.95M) and executing several other recent dispositions (notably 5,200 and 4,780-share sales in early Feb/Jan).
- ACRES stock was trading at $18.54, with a 52-week range of $16.51–$24.61, a market cap of ~$135.2M, P/E of 19.31, and 50-/200-day moving averages of $19.95 and $20.67 respectively.
- Institutional investors own about 40.03% of the company, and several large firms (RBC, Barclays, State Street, Wells Fargo) increased their Q4 positions—RBC grew its stake by 524.2%.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 600 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $25.25, for a total transaction of $15,150.00. Following the sale, the insider owned 354,448 shares in the company, valued at approximately $8,949,812. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a document filed 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 transactions with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- On Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.28, for a total transaction of $32,889.28.
- On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.25, for a total value of $45,450.00.
- 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 value of $2,523.00.
- On Wednesday, February 18th, Eagle Point Credit Management sold 409 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.20, for a total value of $10,306.80.
- 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 value of $6,060.60.
- On Wednesday, February 4th, Eagle Point Credit Management sold 97 shares of ACRES Commercial Realty stock. The stock was 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 transaction 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 transaction of $1,171.30.
ACRES Commercial Realty Stock Performance
NYSE ACR traded down $0.11 on Friday, hitting $18.54. The stock had a trading volume of 2,976 shares, compared to its average volume of 22,536. ACRES Commercial Realty Corp. has a one year low of $16.51 and a one year 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 stock has a market cap of $135.18 million, a price-to-earnings ratio of 19.31 and a beta of 1.19. The company's 50-day moving average is $19.95 and its two-hundred day moving average is $20.67.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in ACRES Commercial Realty by 524.2% during the fourth quarter. Royal Bank of Canada now owns 5,349 shares of the company's stock worth $114,000 after acquiring an additional 4,492 shares during the period. Barclays PLC lifted its holdings in ACRES Commercial Realty by 10.8% in the 4th quarter. Barclays PLC now owns 9,610 shares of the company's stock valued at $205,000 after acquiring an additional 939 shares during the last quarter. State Street Corp boosted its position in shares of ACRES Commercial Realty by 8.5% during the 4th quarter. State Street Corp now owns 86,053 shares of the company's stock valued at $1,836,000 after purchasing an additional 6,713 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ACRES Commercial Realty by 49.6% in the 4th quarter. Wells Fargo & Company MN now owns 6,883 shares of the company's stock worth $147,000 after purchasing an additional 2,281 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new position in shares of ACRES Commercial Realty in the 4th quarter worth approximately $76,000. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Citigroup reiterated an "outperform" rating on shares of ACRES Commercial Realty in a research report on Friday, October 31st. Wall Street Zen upgraded shares of ACRES Commercial Realty from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ACRES Commercial Realty in a report on Monday, December 29th. Zacks Research upgraded shares of ACRES Commercial Realty to a "hold" rating in a research report on Friday, December 19th. Finally, Citizens Jmp set a $24.50 target price on shares of ACRES Commercial Realty in a research note on Friday, October 31st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, ACRES Commercial Realty presently has an average rating of "Hold" and a consensus price target of $24.50.
Read Our Latest Stock Report on ACR
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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