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In recent transactions, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both significant stakeholders in ACRES Commercial Realty Corp. (NYSE:ACR), have reported the sale of company shares totaling $238,155. The transactions were detailed in a recent SEC filing. According to InvestingPro data, ACR has shown remarkable strength with a 69% return over the past year, though current analysis suggests the stock is trading above its Fair Value.
On March 19, Eagle Point sold 5,076 shares of ACRES Commercial Realty’s 7.875% Series D Preferred Stock at an average price of $22.44 per share. Additionally, 4,861 shares of Common Stock were sold at an average price of $23.74 per share. The following day, March 20, an additional 375 shares of Common Stock were sold at $23.60 per share. These transactions occurred near ACR’s 52-week high of $23.81, with InvestingPro noting the stock’s RSI suggests overbought territory. Subscribers can access 11 additional ProTips and comprehensive analysis in the Pro Research Report.
These transactions leave Eagle Point with 866,466 shares of the Series D Preferred Stock and 1,177,060 shares of Common Stock, along with 393,646 shares of the 8.625% Series C Preferred Stock. The transactions were executed indirectly through accounts managed by Eagle Point Credit Management LLC, and the firm has disclaimed beneficial ownership of the securities. Despite recent insider sales, ACR maintains strong financial health with a current ratio of 66.85, indicating robust liquidity management.
In other recent news, Acres Commercial Realty Corp reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.52, compared to the forecast of $0.36. However, the company’s revenue fell slightly short of projections, registering $21.43 million against an anticipated $21.96 million. The company also reported a significant increase in GAAP net income to $4.1 million, translating to $0.52 per diluted share. Notably, the company has reduced its debt-to-equity leverage ratio and increased its book value per share, reflecting improved financial metrics. Acres Commercial Realty’s strategic focus on high-quality investments and proactive asset management has contributed to these results. Looking ahead, the company aims to grow its portfolio to $1.8-$2.0 billion by year-end, with expected EPS for FY2025 projected at $1.93 and revenue anticipated to reach $89.6 million. Analysts from firms such as Jones Trading have noted increased market activity, particularly in refinancing and new loan opportunities, which are expected to drive future growth. The company is actively working on monetizing real estate investments and plans to redeploy capital into its loan portfolio.
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