ACRES Commercial Realty (ACR) insider entities trim 8.625% Series C preferred stake
Rhea-AI Filing Summary
ACRES Commercial Realty Corp. (ACR) reported insider activity by investment entities managed by Eagle Point Credit Management. The reporting persons, acting as directors of the issuer, sold small amounts of the company’s 8.625% Series C Preferred Stock in late November and early December.
They sold 913 shares at a weighted average price of about $25.19 per share and 5,054 shares at about $25.20 per share. After these transactions, the reporting persons continued to report indirect holdings of 387,463 shares of 8.625% Series C Preferred Stock, 763,436 shares of 7.875% Series D Preferred Stock, and 1,177,060 shares of common stock, all held through certain managed funds and accounts.
The filing states that Eagle Point Credit Management LLC and its affiliate Eagle Point DIF GP I LLC may be deemed to have an indirect pecuniary interest in these securities but each disclaims beneficial ownership for Section 16 purposes.
Positive
- None.
Negative
- None.
FAQ
What insider transaction did ACRES Commercial Realty Corp. (ACR) disclose?
The disclosure reports that entities managed by Eagle Point Credit Management LLC sold small amounts of 8.625% Series C Preferred Stock of ACRES Commercial Realty Corp. in late November and early December.
How many ACRES Commercial Realty (ACR) preferred shares were sold in this Form 4?
The reporting persons sold 913 shares of 8.625% Series C Preferred Stock at a weighted average price of about $25.19 per share and 5,054 shares at about $25.20 per share.
What ACRES Commercial Realty (ACR) holdings remain after the reported sales?
After the transactions, the reporting persons reported indirect holdings of 387,463 shares of 8.625% Series C Preferred Stock, 763,436 shares of 7.875% Series D Preferred Stock, and 1,177,060 shares of common stock.
Who executed the ACRES Commercial Realty (ACR) transactions reported here?
The securities are held by private investment funds and accounts managed by Eagle Point Credit Management LLC, with Eagle Point DIF GP I LLC serving as general partner to certain accounts.
Do the reporting persons claim beneficial ownership of ACRES Commercial Realty (ACR) shares?
The reporting persons state they could be deemed to have an indirect pecuniary interest in the securities but expressly disclaim beneficial ownership for Section 16 and other purposes.
What price range did ACRES Commercial Realty (ACR) preferred shares sell for in these transactions?
The filing notes that the 8.625% Series C Preferred Stock sales occurred in multiple trades at prices ranging from $25.19 to $25.20 per share.