Major Shareholder of ACRES Commercial Realty Corp. Sells Shares – Insider Trading Activity and Stock Performance
Are you interested in the world of commercial real estate investment? If so, you’ll want to keep an eye on ACRES Commercial Realty Corp. (NYSE:ACR). Recently, major shareholder Eagle Point Credit Management made some significant moves by selling shares of the company’s stock. This insider transaction is just one of the many developments happening within ACRES Commercial Realty.
In a transaction dated June 27th, Eagle Point Credit Management sold 18,464 shares of ACRES Commercial Realty stock at an average price of $25.00, totaling $461,600. This move was followed by another sale of 7,005 shares on June 25th at an average price of $25.01. These transactions are worth noting as they provide insight into the actions of major shareholders within the company.
Despite these insider sales, ACRES Commercial Realty stock saw a 0.9% increase, opening at $12.88 on Friday. The company has a 12-month low of $6.62 and a high of $14.35, with a market capitalization of $102.51 million. ACRES Commercial Realty also recently reported quarterly earnings data, with a return on equity of 7.76% and a net margin of 28.51%.
Analysts have set new price targets for ACRES Commercial Realty, with JMP Securities raising their target price to $15.50 and giving the stock a “market outperform” rating. Additionally, institutional investors have been making moves with their holdings in the company, further shaping the landscape of ACRES Commercial Realty.
ACRES Commercial Realty Corp. focuses on commercial real estate mortgage loans and equity investments in the United States. With a diverse portfolio of real estate-related assets, including mortgage loans, mezzanine financing, and commercial mortgage-backed securities, ACRES Commercial Realty is a key player in the commercial real estate market.
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Keep an eye on ACRES Commercial Realty as it continues to make waves in the commercial real estate investment sector.
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