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Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both significant stakeholders in ACRES Commercial Realty Corp. (NYSE:ACR), have reported selling shares valued at approximately $341,215. The sales, disclosed in a recent filing, involved transactions of the company’s 7.875% Series D Preferred Stock and Common Stock, with prices ranging from $22.47 to $23.70 per share. The transactions come as ACR trades near its 52-week high of $23.81, having delivered an impressive 93.76% return over the past year.
The transactions, which took place on March 17 and March 18, 2025, saw Eagle Point divest 3,180 shares of the preferred stock at $22.47 per share, followed by a sale of 2,500 shares at $22.48 per share. Additionally, 9,011 shares of common stock were sold at an average price of $23.70 per share. According to InvestingPro analysis, the stock’s technical indicators suggest it’s in overbought territory, with notable price volatility.
Following these transactions, Eagle Point retains 874,042 shares of the preferred stock and 1,182,296 shares of the common stock. The sales were conducted indirectly through certain private investment funds and accounts managed by Eagle Point Credit Management LLC, with Eagle Point DIF GP I LLC acting as a general partner to certain accounts.
The filing notes that both Eagle Point entities disclaim beneficial ownership of the securities, citing indirect pecuniary interest as defined under SEC rules.
In other recent news, Acres Commercial Realty reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.52, which was notably higher than the anticipated $0.36. However, the company’s revenue slightly missed projections, coming in at $21.43 million compared to the expected $21.96 million. Despite the earnings beat, the company’s stock experienced a minor decline in after-hours trading. Acres Commercial Realty also reported a reduction in its debt-to-equity leverage ratio and an increase in its book value per share. Analysts from Jones Trading and Citizens Bank discussed the company’s strategy and future expectations, noting the company’s plans to grow its portfolio to between $1.8 billion and $2.0 billion by the end of the year. The company’s strategic focus includes multifamily, hospitality, and self-storage sectors, with a projected EPS of $1.93 for FY2025. Additionally, Acres Commercial Realty aims to achieve mid-teens return on equity (ROE) as part of its growth strategy.
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