Eagle Point Credit Management Offloads Shares in ACRES Realty

Eagle Point Credit Management, a major shareholder in ACRES Commercial Realty Corp. (NYSE: ACR), sold 723 shares of the company on November 24, 2023. The transaction occurred at an average price of $25.19, resulting in total proceeds of approximately $18,212.37. Following this sale, Eagle Point Credit Management retains ownership of 388,376 shares, valued at about $9,783,191.44. This sale represents a 0.19% decrease in their overall stake in the firm.

The transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC), which mandates that large shareholders owning at least 10% of a company’s stock disclose their trading activities.

Stock Performance and Analyst Ratings

On the trading day following the sale, ACRES Commercial Realty’s stock fell by $0.07, closing at $21.21. The trading volume reached 16,734 shares, significantly lower than the average volume of 34,785 shares. Over the past year, the stock has fluctuated between a low of $14.94 and a high of $23.81. Currently, the company’s 50-day moving average stands at $20.67, while its 200-day average is $19.60.

ACRES Commercial Realty also exhibits a debt-to-equity ratio of 3.01 and both a current and quick ratio of 69.53. The company holds a market capitalization of $154.50 million and reports a price-to-earnings (P/E) ratio of -1,059.72, indicating significant losses.

Recent reports from equity research analysts reveal a mixed outlook for ACRES Commercial Realty. On October 31, 2023, JMP Securities set a target price of $24.50 for the company’s shares, while Citigroup reaffirmed an “outperform” rating. Additionally, Citizens JMP raised their price objective from $23.50 to $24.50, indicating a positive view of the company’s prospects. In contrast, Weiss Ratings maintained a “hold” rating, and Wall Street Zen upgraded ACRES from a “strong sell” to a “hold” rating. Currently, three analysts rate the stock as a Buy, while two suggest holding.

Institutional Investor Movements

Institutional investors have recently adjusted their positions in ACRES Commercial Realty. Biltmore Family Office LLC increased its stake by 6.6% in the first quarter, now owning 23,552 shares valued at approximately $510,000. Informed Momentum Co LLC acquired a new stake worth $697,000 during the same period. Other significant transactions include Goldman Sachs Group Inc., which also initiated a new position valued at $488,000, and Jane Street Group LLC, which expanded its holdings by 190.8%, acquiring an additional 25,216 shares worth $833,000.

Overall, institutional investors collectively own 40.03% of ACRES Commercial Realty’s stock, indicating a strong interest in the company’s potential.

About ACRES Commercial Realty

ACRES Commercial Realty Corp. operates as a real estate investment trust (REIT) focused on the origination, management, and holding of commercial real estate mortgage loans and equity investments within the United States. The firm invests in a variety of commercial real estate-related assets, including floating-rate first mortgage loans, first priority interests in mortgage loans, and mezzanine financing.

As developments continue, stakeholders will be closely monitoring ACRES Commercial Realty’s performance in the market and the implications of recent shareholder transactions.