Eagle Point sells $170,285 in acres commercial realty stock By Investing.com

Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, both significant shareholders of ACRES Commercial Realty Corp. (NYSE:ACR), have disclosed to the SEC the sale of a portion of their holdings in the real estate investment trust the companies sold approximately $170,285 worth of stock, according to recent filings 65.9% return year over year. InvestingPro: data shows that the company’s market capitalization is currently $111.8 million and shares are trading at $15.46.

The transactions included the sale of 5,728 shares of 8.625% Series C preferred stock at an average price of $25.18 per share on December 19, and an additional 100 shares of the same stock at $25.20 per share on December 20. 1,021 shares: 7,875 % Series D preferred stock traded at $23.05 in December per share 19. These sales occurred in the price range of $23.05 to $25.20 per share.According to InvestingPro: analysis shows ACR is undervalued, trading at just 0.26 times book value.Subscribers can access 8 additional ProTips and comprehensive valuation metrics in the Pro Research Report.

Despite these transactions, Eagle Point retains a significant position in ACRES Commercial Realty, holding more than 1.19 million shares of common stock and a significant number of preferred shares.The transactions were conducted indirectly through certain private investment funds and accounts managed by Eagle Point under ownership.

In other recent news, ACRES Commercial Realty Corp authorized an additional $5 million for its stock repurchase program, allowing the company to continue to buy back its common and preferred stock at a significant discount to The repurchase will be effected in accordance with federal securities laws.

In other news, InPoint Commercial Income, Inc. has announced significant changes in its executive leadership.Following the resignation of Mitchell Sabshon, the company appointed Donald McKinnon as the new Chairman of the Board and Denise C. Cramer, the new CEO.

Turning to financial results, ACRES Commercial Realty Corp reported its third-quarter financial results for 2024, revealing a net decrease in its loan portfolio and a drop in earnings available for distribution focused on monetizing assets and improving credit quality, with plans to redeploy capital into new loans in the future.

These recent developments highlight ongoing changes and strategies within both companies.As InPoint Commercial Real Estate navigates its leadership transition, ACRES Commercial Realty Corp. is focused on improving its financial position amid challenging market conditions.

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