Key Points
- Eagle Point Credit Management, a major ACRES Commercial Realty shareholder, sold 2,076 shares on June 24 at an average price of $22.50, trimming its stake by 0.28% to 731,230 shares.
- The firm has been actively reducing its position in ACRES Commercial Realty, with multiple insider sales reported throughout June at prices ranging from about $22.50 to $25.47.
- ACRES Commercial Realty recently reported Q1 earnings of $0.02 per share, in line with estimates, though revenue of $17.82 million 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 2,076 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $22.50, for a total value of $46,710.00. Following the completion of the sale, the insider owned 731,230 shares of the company's stock, valued at approximately $16,452,675. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 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 Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $24.37, for a total value of $145,756.97.
- On Friday, June 12th, Eagle Point Credit Management sold 849 shares of ACRES Commercial Realty stock. The shares were 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 stock was sold at an average price of $25.47, for a total transaction 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 shares were sold at an average price of $25.41, for a total transaction 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 stock was sold at an average price of $22.12, for a total value of $24,221.40.
ACRES Commercial Realty Price Performance
NYSE:ACR opened at $18.07 on Friday. ACRES Commercial Realty Corp. has a 52 week low of $15.61 and a 52 week high of $24.61. The stock's fifty day moving average is $19.51 and its two-hundred day moving average is $19.82. The company has a market capitalization of $128.82 million, a P/E ratio of 27.79 and a beta of 1.07. The company has a quick ratio of 164.62, a current ratio of 164.62 and a debt-to-equity ratio of 3.36.
ACRES Commercial Realty (NYSE:ACR - Get Free Report) last issued 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. The firm had revenue of $17.82 million during 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%. Equities analysts expect that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.
Institutional Trading of ACRES Commercial Realty
Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake 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 worth $29,000 after acquiring an additional 739 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ACRES Commercial Realty during the 2nd quarter worth $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ACRES Commercial Realty during the second quarter worth $60,000. Bank of America Corp DE increased its holdings in ACRES Commercial Realty by 110.4% in the second quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after buying an additional 1,926 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in ACRES Commercial Realty in the fourth quarter valued at $76,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of ACRES Commercial Realty from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings raised 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 issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.50.
Check Out Our Latest Report on ACR
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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