Eagle Point funds trim ACRES (NYSE: ACR) preferred stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ACRES Commercial Realty Corp. reported that private investment funds and accounts managed by Eagle Point Credit Management LLC executed an open-market sale of 1,095 shares of its 7.875% Series D Preferred Stock at a weighted average price of $22.12 per share.
After this transaction, the accounts associated with the reporting entities held 737,928 shares of the 7.875% Series D Preferred Stock, 349,907 shares of the 8.625% Series C Preferred Stock, and 1,177,060 shares of common stock indirectly. The reporting entities disclaim beneficial ownership of these securities under Section 16 rules.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,095 shares ($24,221)
Net Sell
3 txns
Insider
Eagle Point Credit Management LLC, Eagle Point DIF GP I LLC
Role
10% Owner | 10% Owner
Sold
1,095 shs ($24K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | 7.875% Series D Preferred Stock | 1,095 | $22.12 | $24K |
| holding | Common Stock, $0.001 par value | -- | -- | -- |
| holding | 8.625% Series C Preferred Stock | -- | -- | -- |
Holdings After Transaction:
7.875% Series D Preferred Stock — 737,928 shares (Indirect, See footnotes);
Common Stock, $0.001 par value — 1,177,060 shares (Indirect, See footnotes);
8.625% Series C Preferred Stock — 349,907 shares (Indirect, See footnotes)
Footnotes (1)
- The securities are directly held by certain private investment funds and/or certain accounts (the "Applicable Accounts") managed by Eagle Point Credit Management LLC ("EPCM"). Eagle Point DIF GP I LLC ("DIF GP") serves as general partner to certain Applicable Accounts. EPCM and DIF GP could be deemed to have an "indirect pecuniary interest" (within the meaning of Rule 16a-1(a)(2)(ii) under the Securities Exchange Act of 1934) in securities reported herein. Each of the Reporting Persons hereby disclaims beneficial ownership of the securities described in this report pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934 and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of any of the reported securities for purposes of Section 16 or for any other purpose. The price reported reflects the weighted average price per share. These securities were sold in multiple transactions at prices ranging from $22.02 to $22.15 per share, inclusive. Upon request by the staff of the Securities and Exchange Commission, the Issuer or any security holder of the Issuer, the reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
Key Figures
Series D shares sold: 1,095 shares
Weighted average sale price: $22.12 per share
Series D shares held after: 737,928 shares
+3 more
6 metrics
Series D shares sold
1,095 shares
7.875% Series D Preferred Stock open-market sale
Weighted average sale price
$22.12 per share
Price for 7.875% Series D Preferred Stock sale
Series D shares held after
737,928 shares
Indirect holdings following reported sale
Common shares indirectly held
1,177,060 shares
Common Stock, $0.001 par value, indirect position
Series C shares indirectly held
349,907 shares
8.625% Series C Preferred Stock indirect position
Net share activity
1,095 net shares sold
Net effect across reported transactions
Key Terms
indirect pecuniary interest, beneficial ownership, Rule 16a-1(a)(4), Section 16, +1 more
5 terms
indirect pecuniary interest financial
"EPCM and DIF GP could be deemed to have an "indirect pecuniary interest""
beneficial ownership financial
"disclaims beneficial ownership of the securities described in this report"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Rule 16a-1(a)(4) regulatory
"pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934"
Section 16 regulatory
"for purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
weighted average price financial
"The price reported reflects the weighted average price per share."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
FAQ
What other ACRES (ACR) securities are reported as indirectly held?
The filing reports indirect holdings of 1,177,060 shares of ACRES common stock and 349,907 shares of 8.625% Series C Preferred Stock. These positions are held by private investment funds or accounts managed by Eagle Point Credit Management LLC, which disclaims beneficial ownership.
Who actually holds the ACRES (ACR) securities referenced in the Form 4?
The securities are held by certain private investment funds and accounts, called “Applicable Accounts,” managed by Eagle Point Credit Management LLC. Eagle Point DIF GP I LLC serves as general partner to some of these accounts, and both entities report only an indirect pecuniary interest.