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Eagle Point Credit Management LLC, a ten percent owner of ACRES Commercial Realty Corp (NASDAQ:ACR), reported selling 7.875% Series D Preferred Stock in three separate transactions for a total value of $46490. The stock, currently trading at $17.94, has shown significant volatility according to InvestingPro data, with a market capitalization of $122.41 million.
The sales occurred between June 26 and June 30, 2025, with prices ranging from $22.48 to $22.52 per share. On June 26, 54 shares were sold at $22.48 per share. On June 27, 1958 shares were sold at $22.48 per share. On June 30, 56 shares were sold at $22.52 per share. Despite these insider sales, the stock appears undervalued based on comprehensive analysis available through InvestingPro.
Following these transactions, Eagle Point Credit Management LLC still indirectly holds 843201 shares of 7.875% Series D Preferred Stock, 1177060 shares of Common Stock, $0.001 par value and 393646 shares of 8.625% Series C Preferred Stock. The company maintains strong liquidity with a current ratio of 71.76 and trades at an attractive Price/Book ratio of 0.28. Access detailed financial analysis and 10+ additional exclusive insights with InvestingPro.
In other recent news, Acres Commercial Realty Corp reported financial results for the first quarter of 2025 that fell short of expectations, with an earnings per share (EPS) loss of $0.80, significantly missing the forecasted EPS of $0.33. The company also reported a revenue of $17 million, which was below the anticipated $21.84 million. The net loss for the quarter amounted to $5.9 million, and the company’s GAAP book value per share decreased to $28.50 from $28.87 at the end of December 2024. JMP Securities maintained a Market Outperform rating on Acres Commercial Realty, with a price target of $22.00, despite the disappointing earnings report. Additionally, Acres Commercial Realty secured a new $940 million financing facility with JPMorgan, which includes a two-year reinvestment period. The company aims to grow its portfolio by $300-500 million by the end of the year. JMP Securities noted that Acres Commercial Realty’s strategy of utilizing tax loss carryforwards could potentially lead to long-term price appreciation.
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