Key Points
- Major shareholder Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty on June 1 for about $147,530, trimming its stake by 1.66% to 344,106 shares.
- The firm’s stock last traded at $19.11, below its 52-week high of $24.61, while the company shows a market cap of $136.27 million and a debt-to-equity ratio of 3.36.
- ACRES Commercial Realty recently reported Q1 earnings of $0.02 per share, matching estimates, though revenue of $17.82 million came in below expectations; analysts currently rate the stock Moderate Buy with a $24.50 target price.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 5,806 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $25.41, for a total value of $147,530.46. Following the completion of the transaction, the insider owned 344,106 shares of the company's stock, valued at $8,743,733.46. This trade represents a 1.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.55, for a total value of $9,516.10.
- On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $9,090.00.
- On Monday, March 30th, Eagle Point Credit Management sold 1,095 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.12, for a total value of $24,221.40.
- On Monday, March 16th, Eagle Point Credit Management sold 2,954 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.07, for a total value of $65,194.78.
ACRES Commercial Realty Price Performance
Shares of NYSE ACR opened at $19.11 on Thursday. ACRES Commercial Realty Corp. has a 52 week low of $17.06 and a 52 week high of $24.61. The business's 50 day moving average price is $20.06 and its 200 day moving average price is $20.27. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36. The firm has a market cap of $136.27 million, a P/E ratio of 29.40 and a beta of 1.07.
ACRES Commercial Realty (NYSE:ACR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $17.82 million during the quarter, compared to analysts' expectations of $20.55 million. ACRES Commercial Realty had a net margin of 37.20% and a return on equity of 5.61%. On average, sell-side analysts expect that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current year.
Institutional Trading of ACRES Commercial Realty
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACR. BNP Paribas Financial Markets increased its holdings 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 in the last quarter. Barclays PLC boosted its stake in shares of ACRES Commercial Realty by 10.8% during the 4th quarter. Barclays PLC now owns 9,610 shares of the company's stock worth $205,000 after acquiring an additional 939 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of ACRES Commercial Realty by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,278 shares of the company's stock worth $894,000 after acquiring an additional 1,019 shares in the last quarter. Bank of America Corp DE grew its position in shares of 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 valued at $66,000 after acquiring an additional 1,926 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of 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 acquiring an additional 1,979 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Wall Street Zen raised shares of ACRES Commercial Realty from a "strong sell" rating to a "sell" rating in a report on Saturday, April 18th. Weiss Ratings upgraded ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.
Read Our Latest Research Report 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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