Key Points
- Eagle Point Credit Management sold 2,954 shares of ACRES on March 16 at an average price of $22.07 (≈$65,195), trimming its stake by 0.40% to 739,023 shares valued at about $16.31M and continuing a series of small disposals earlier in February and March.
- ACRES (NYSE:ACR) shares traded down to $18.87 on thin volume; the REIT has a market cap of roughly $134.5M, an average analyst rating of "Hold" with a $24.50 target, but has faced recent downgrades to "Sell" from some firms.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 2,954 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $22.07, for a total value of $65,194.78. Following the completion of the sale, the insider owned 739,023 shares in the company, valued at $16,310,237.61. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total transaction of $68,495.60.
- On Monday, March 2nd, Eagle Point Credit Management sold 2,140 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.08, for a total transaction of $51,531.20.
- 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 transaction of $45,450.00.
- On Tuesday, February 24th, Eagle Point Credit Management sold 600 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total transaction of $15,150.00.
- 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 transaction 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 transaction 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 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 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.
ACRES Commercial Realty Trading Down 0.8%
Shares of NYSE:ACR traded down $0.16 during midday trading on Thursday, reaching $18.87. The company's stock had a trading volume of 473 shares, compared to its average volume of 22,119. The firm has a 50 day moving average price of $19.20 and a two-hundred day moving average price of $20.53. ACRES Commercial Realty Corp. has a fifty-two week low of $16.51 and a fifty-two week high of $24.61. The firm has a market capitalization of $134.51 million, a price-to-earnings ratio of 1,888.39 and a beta of 1.19. The company has a debt-to-equity ratio of 2.81, a quick ratio of 135.18 and a current ratio of 135.18.
Institutional Trading of ACRES Commercial Realty
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in shares of 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 in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of ACRES Commercial Realty during the second quarter worth about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of ACRES Commercial Realty in the 2nd quarter worth about $60,000. Bank of America Corp DE raised its holdings in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock worth $66,000 after acquiring an additional 1,926 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in ACRES Commercial Realty in the 4th quarter valued at about $76,000. Institutional investors own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ACR. Weiss Ratings cut shares of ACRES Commercial Realty from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, March 11th. Wall Street Zen lowered ACRES Commercial Realty from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Finally, Zacks Research raised ACRES Commercial Realty to a "hold" rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $24.50.
Read Our Latest Research 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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