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Eagle Point Credit Management LLC, a significant stakeholder in Acres Commercial Realty Corp. (NYSE:ACR), has recently reported selling a total of 4,210 shares of the company’s 7.875% Series D Preferred Stock. The transactions occurred over two days, March 26 and March 27, at a consistent average price of $22.48 per share, culminating in a total value of $94,640. The stock has shown remarkable momentum, delivering a 52% return over the past year and an impressive 38% gain in the last six months.
Following these sales, Eagle Point Credit Management continues to hold a substantial position in Acres Commercial Realty, with 860,697 shares of the Series D Preferred Stock and 1,177,060 shares of Common Stock, as well as 393,646 shares of the 8.625% Series C Preferred Stock. These transactions were reported as indirect sales, with the securities being held by private investment funds and accounts managed by Eagle Point. According to InvestingPro analysis, ACR currently trades at an attractive Price/Book ratio of 0.33 and appears undervalued based on Fair Value calculations. Discover more insights and 10+ additional ProTips about ACR with an InvestingPro subscription.
In other recent news, Acres Commercial Realty Corp reported its fourth-quarter 2024 earnings, delivering an earnings per share (EPS) of $0.52, which exceeded analysts’ expectations of $0.36. However, the company’s revenue slightly missed projections, coming in at $21.43 million compared to the anticipated $21.96 million. Despite the revenue shortfall, the company successfully reduced its debt-to-equity leverage ratio and increased its book value per share. The firm also reported strong performance in its student housing developments, highlighting high occupancy rates. Additionally, Acres Commercial Realty’s strategic focus on high-quality investments and proactive asset management was evident in its improved operational efficiency, with Earnings Available for Distribution (EAD) doubling to $0.48 per share. Analyst firms did not report any upgrades or downgrades for the company following these results. The company aims to grow its portfolio to $1.8-$2.0 billion by the end of the year, with expected EPS for FY2025 projected at $1.93 and revenue anticipated to reach $89.6 million.
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