Key Points
- Eagle Point Credit Management, a major shareholder in ACRES Commercial Realty, sold 5,981 shares on June 15 at an average price of $24.37, totaling about $145,757. After the sale, it still owned 339,325 shares.
- The shareholder has been actively trimming its stake, with several additional sales reported in recent days and weeks, including a larger sale of 5,806 shares on June 1.
- ACRES Commercial Realty recently reported Q1 earnings of $0.02 per share, matching estimates, while revenue came in below expectations. The stock opened at $16.47, well below its 52-week high of $24.61.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 5,981 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.37, for a total value of $145,756.97. Following the completion of the transaction, the insider directly owned 339,325 shares of the company's stock, valued at $8,269,350.25. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $25.47, for a total transaction of $21,624.03.
- 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 transaction of $34,449.12.
- On Wednesday, June 3rd, Eagle Point Credit Management sold 422 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.55, for a total transaction of $9,516.10.
- On Monday, June 1st, Eagle Point Credit Management sold 5,806 shares of ACRES Commercial Realty stock. The stock was 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 stock was sold at an average price of $22.50, for a total transaction 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 transaction of $24,221.40.
ACRES Commercial Realty Stock Performance
NYSE:ACR opened at $16.47 on Thursday. ACRES Commercial Realty Corp. has a 12 month low of $15.61 and a 12 month high of $24.61. The firm has a market capitalization of $117.40 million, a PE ratio of 25.33 and a beta of 1.07. The company has a debt-to-equity ratio of 3.36, a current ratio of 164.62 and a quick ratio of 164.62. The business's fifty day moving average price is $19.80 and its 200 day moving average price is $20.04.
ACRES Commercial Realty (NYSE:ACR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The business had revenue of $17.82 million for the quarter, compared to the consensus estimate of $20.55 million. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%. On average, sell-side analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ACRES Commercial Realty
A number of hedge funds have recently modified their holdings of the business. GM Advisory Group LLC purchased a new position in shares of ACRES Commercial Realty during the first quarter worth approximately $223,000. Janney Montgomery Scott LLC grew its position in 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 purchasing an additional 1,019 shares during the last quarter. Royal Bank of Canada grew its position in ACRES Commercial Realty by 524.2% during the 4th quarter. Royal Bank of Canada now owns 5,349 shares of the company's stock worth $114,000 after purchasing an additional 4,492 shares during the last quarter. Barclays PLC grew its position in 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 purchasing an additional 939 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of ACRES Commercial Realty by 8.5% during the fourth quarter. State Street Corp now owns 86,053 shares of the company's stock worth $1,836,000 after buying an additional 6,713 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Wall Street Zen raised shares of ACRES Commercial Realty from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 18th. Weiss Ratings raised ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.
Check Out Our Latest Stock Analysis on ACR
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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