Key Points
- Major shareholder Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty at $25.47 each, worth about $21,624, trimming its stake by 0.25% to 343,036 shares.
- The insider has been actively selling shares in recent weeks, with several additional trades in June and March disclosed in SEC filings.
- ACRES Commercial Realty recently reported Q1 earnings of $0.02 per share, matching estimates, while revenue came in below expectations; analysts currently rate the stock Moderate Buy with a $24.50 price target.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $25.47, for a total value of $21,624.03. Following the sale, the insider owned 343,036 shares of the company's stock, valued at approximately $8,737,126.92. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 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 Thursday, June 11th, Eagle Point Credit Management sold 215 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.47, for a total value of $5,476.05.
- On Wednesday, June 10th, Eagle Point Credit Management sold 1,527 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $22.56, for a total value of $34,449.12.
- 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 Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $25.41, for a total value of $147,530.46.
- On Wednesday, May 20th, Eagle Point Credit Management sold 404 shares of ACRES Commercial Realty stock. The shares were 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 shares were 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 Stock Performance
Shares of ACR opened at $18.06 on Friday. The company has a market cap of $128.77 million, a PE ratio of 27.79 and a beta of 1.07. The company has a current ratio of 164.62, a quick ratio of 164.62 and a debt-to-equity ratio of 3.36. The stock has a 50-day moving average price of $19.96 and a 200-day moving average price of $20.15. ACRES Commercial Realty Corp. has a 12-month low of $17.06 and a 12-month high of $24.61.
ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%.The firm had revenue of $17.82 million during the quarter, compared to analysts' expectations of $20.55 million. As a group, equities analysts forecast that ACRES Commercial Realty Corp. will post 0.25 earnings per share for the current fiscal year.
Institutional Trading of ACRES Commercial Realty
A number of hedge funds have recently bought and sold shares of the company. Eagle Point Credit Management LLC bought a new stake in ACRES Commercial Realty in the 4th quarter worth approximately $25,118,000. Oaktree Capital Management LP bought a new stake in ACRES Commercial Realty in the 3rd quarter worth approximately $8,282,000. Vanguard Group Inc. lifted its position in ACRES Commercial Realty by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company's stock worth $8,119,000 after buying an additional 11,465 shares during the last quarter. Geode Capital Management LLC lifted its position in ACRES Commercial Realty by 125.1% in the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock worth $2,476,000 after buying an additional 76,688 shares during the last quarter. Finally, State Street Corp lifted its position in ACRES Commercial Realty by 8.5% in the fourth 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 during the last quarter. Institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on ACR shares. Wall Street Zen upgraded ACRES Commercial Realty from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 18th. Weiss Ratings upgraded ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.50.
Read Our Latest Stock Analysis 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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