Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both significant stakeholders in ACRES Commercial Realty Corp. (NYSE:ACR), recently reported a series of stock transactions. On November 13 and 14, the firms sold a combined total of 8,965 shares of ACRES' preferred stock, resulting in a total transaction value of $210,010. The shares were sold at prices ranging from $23.36 to $25.02 per share.
Following these transactions, Eagle Point Credit Management and Eagle Point DIF GP I continue to hold substantial positions in ACRES Commercial Realty, with 913,690 and 910,053 shares of Series D Preferred Stock, respectively, and 482,042 shares of Series C Preferred Stock. Additionally, they maintain a holding of 1,191,307 shares of common stock.
These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, signed by Kenneth P. Onorio, Chief Financial Officer for both entities.
In other recent news, ACRES Commercial Realty Corp disclosed its financial results for the third quarter of 2024. The company reported a net decrease in its loan portfolio, now valued at $1.6 billion, and a drop in earnings available for distribution (EAD) to $0.24 per share from the previous quarter's $0.51. However, the company's GAAP book value per share increased slightly to $27.92 and it maintained strong liquidity at $79 million. ACRES also mentioned an asset monetization strategy, including plans to sell a highly occupied student housing development near Florida State University and three other assets in the upcoming quarters. Management at ACRES, including CEO Mark Fogel and CFO Eldron Blackwell, also discussed plans to redeploy capital into new loans. These are some of the recent developments in the company's financial trajectory.
InvestingPro Insights
Recent transactions by major stakeholders in ACRES Commercial Realty Corp. (NYSE:ACR) highlight the dynamic nature of investor positions in the company. To provide additional context, let's examine some key financial metrics and insights from InvestingPro.
As of the latest data, ACRES Commercial Realty has a market capitalization of $119.68 million USD, positioning it as a small-cap company in the real estate sector. The company's P/E ratio stands at 19.16, suggesting that investors are willing to pay a premium for its earnings potential.
One of the most striking InvestingPro Tips is that ACRES has seen a high return over the last year. This is corroborated by the impressive 1-year price total return of 109.07%, indicating strong market performance. Additionally, the stock is trading near its 52-week high, with the current price at 97.93% of its peak, aligning with the recent insider transactions.
Another relevant InvestingPro Tip reveals that ACRES' management has been aggressively buying back shares. This strategy often signals management's confidence in the company's value and can potentially boost earnings per share.
For investors seeking a deeper understanding of ACRES Commercial Realty, InvestingPro offers 8 additional tips that could provide valuable insights into the company's financial health and future prospects.
Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both significant stakeholders in ACRES Commercial Realty Corp. (NYSE:ACR), recently reported a series of stock transactions. On November 13 and 14, the firms sold a combined total of 8,965 shares of ACRES' preferred stock, resulting in a total transaction value of $210,010. The shares were sold at prices ranging from $23.36 to $25.02 per share.
Following these transactions, Eagle Point Credit Management and Eagle Point DIF GP I continue to hold substantial positions in ACRES Commercial Realty, with 913,690 and 910,053 shares of Series D Preferred Stock, respectively, and 482,042 shares of Series C Preferred Stock. Additionally, they maintain a holding of 1,191,307 shares of common stock.
These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, signed by Kenneth P. Onorio, Chief Financial Officer for both entities.
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