Key Points
- Eagle Point Credit Management sold 1,095 ACRES Commercial Realty shares on March 30 at an average price of $22.12 for $24,221.40, leaving it with 737,928 shares (a reported 0.15% decrease in its position).
- The firm has been consistently trimming its ACR stake across February–March, selling roughly about 13,900 shares in total during that period across multiple transactions.
- ACR trades near $18.85 with a market cap of about $134.4 million; analysts show an average rating of "Moderate Buy" and an average price target of $24.50.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 1,095 shares of the firm's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $22.12, for a total transaction of $24,221.40. Following the completion of the transaction, the insider directly owned 737,928 shares of the company's stock, valued at $16,322,967.36. This represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.07, for a total value of $65,194.78.
- On Tuesday, March 3rd, Eagle Point Credit Management sold 3,142 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value 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 value of $51,531.20.
- On Thursday, February 26th, Eagle Point Credit Management sold 1,301 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.28, for a total value of $32,889.28.
- On Wednesday, February 25th, Eagle Point Credit Management sold 1,800 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.25, for a total value 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.
ACRES Commercial Realty Price Performance
ACRES Commercial Realty stock opened at $18.85 on Friday. The company has a current ratio of 135.18, a quick ratio of 135.18 and a debt-to-equity ratio of 2.81. The company has a fifty day simple moving average of $18.93 and a 200-day simple moving average of $20.38. The stock has a market cap of $134.40 million, a P/E ratio of 1,886.89 and a beta of 1.11. ACRES Commercial Realty Corp. has a 12-month low of $16.51 and a 12-month high of $24.61.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ACR. Oaktree Capital Management LP purchased a new stake in ACRES Commercial Realty in the third quarter valued at approximately $8,282,000. Gratia Capital LLC grew its position in shares of ACRES Commercial Realty by 64.3% during the second quarter. Gratia Capital LLC now owns 125,994 shares of the company's stock worth $2,260,000 after acquiring an additional 49,312 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of ACRES Commercial Realty by 68.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,835 shares of the company's stock valued at $186,000 after acquiring an additional 3,587 shares during the period. Deutsche Bank AG acquired a new position in shares of ACRES Commercial Realty in the 4th quarter valued at $130,000. Finally, Royal Bank of Canada raised its position in ACRES Commercial Realty by 524.2% in the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company's stock valued at $114,000 after purchasing an additional 4,492 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
ACR has been the topic of several research analyst reports. Weiss Ratings raised ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday. Wall Street Zen cut shares of ACRES Commercial Realty from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded shares of ACRES Commercial Realty to a "hold" rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.50.
Get Our Latest Stock Analysis on ACRES Commercial Realty
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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