Key Points
- Eagle Point Credit Management sold 908 ACRES Commercial Realty shares for $19,794.40, reducing its ownership by 0.13% to 715,771 shares. The major shareholder has also reported multiple additional sales in recent weeks.
- ACRES shares opened at $15.78, near their 12-month low of $15.61, after falling 9.9%. The company reported a quarterly loss of $0.74 per share, missing the $0.18 analyst consensus, despite revenue slightly exceeding estimates.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $24.50; Zacks Research and Wall Street Zen recently downgraded the stock, while institutional investors own 40.03% of shares.
ACRES Commercial Realty Corp. (NYSE:ACR - Get Free Report) major shareholder Eagle Point Credit Management sold 908 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $21.80, for a total value of $19,794.40. Following the completion of the transaction, the insider directly owned 715,771 shares in the company, valued at $15,603,807.80. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Eagle Point Credit Management also recently made the following trade(s):
- On Friday, July 31st, Eagle Point Credit Management sold 84 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.80, for a total value of $1,831.20.
- On Wednesday, July 29th, Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.80, for a total value of $48,221.60.
- On Tuesday, July 28th, Eagle Point Credit Management sold 206 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $21.79, for a total value of $4,488.74.
- On Monday, July 27th, Eagle Point Credit Management sold 1,389 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $21.78, for a total value of $30,252.42.
- On Wednesday, June 24th, Eagle Point Credit Management sold 2,076 shares of ACRES Commercial Realty stock. The stock was sold at an average price of $22.50, for a total value of $46,710.00.
- On Monday, June 15th, Eagle Point Credit Management sold 5,981 shares of ACRES Commercial Realty stock. The shares were sold at an average price of $24.37, for a total transaction 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 shares were sold at an average price of $22.55, for a total transaction of $9,516.10.
ACRES Commercial Realty Stock Down 9.9%
Shares of ACRES Commercial Realty stock opened at $15.78 on Tuesday. ACRES Commercial Realty Corp. has a twelve month low of $15.61 and a twelve month high of $24.61. 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 company's 50 day moving average is $17.97 and its 200 day moving average is $18.99. The company has a market cap of $112.48 million, a price-to-earnings ratio of -14.08 and a beta of 1.08.
ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.92). The company had revenue of $20.98 million during the quarter, compared to the consensus estimate of $20.32 million. ACRES Commercial Realty had a return on equity of 2.47% and a net margin of 22.62%. Research analysts anticipate that ACRES Commercial Realty Corp. will post 0.15 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages recently commented on ACR. Zacks Research lowered ACRES Commercial Realty from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Weiss Ratings raised shares of ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered shares of ACRES Commercial Realty from a "hold" rating to a "sell" rating in a research report on Sunday, July 5th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ACRES Commercial Realty presently has a consensus rating of "Hold" and an average target price of $24.50.
Check Out Our Latest Stock Report on ACRES Commercial Realty
Hedge Funds Weigh In On ACRES Commercial Realty
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Point Credit Management LLC bought a new stake in ACRES Commercial Realty during the fourth quarter valued at about $25,118,000. Vanguard Group Inc. lifted its position in shares of ACRES Commercial Realty by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 383,696 shares of the company's stock valued at $8,119,000 after buying an additional 11,465 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ACRES Commercial Realty by 125.1% during the 2nd quarter. Geode Capital Management LLC now owns 137,996 shares of the company's stock valued at $2,476,000 after buying an additional 76,688 shares in the last quarter. State Street Corp grew its stake in shares of ACRES Commercial Realty by 8.5% during the 4th quarter. State Street Corp now owns 86,053 shares of the company's stock valued at $1,836,000 after acquiring an additional 6,713 shares during the period. Finally, Raymond James Financial Inc. grew its stake 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. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
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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