Form 4: Eagle Point Credit Management LLC Reports Transaction in ACRES Commercial Realty Corp.

Eagle Point Credit Management LLC reports the disposition of 2,635 shares of 8.625% Series C Preferred Stock in ACRES Commercial Realty Corp.

Summary

• On August 2, 2024, Eagle Point Credit Management LLC disposed of 2,635 shares of ACRES Commercial Realty Corp.'s 8.625% Series C Preferred Stock at a price of $24.88 per share.
• Following the transaction, Eagle Point Credit Management LLC indirectly owns 620,959 shares of 8.625% Series C Preferred Stock, 1,191,307 shares of Common Stock, and 1,020,135 shares of 7.875% Series D Preferred Stock.
• The shares 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.
• Both Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC disclaim beneficial ownership of the reported securities.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing reflects the ongoing trading activity of a major shareholder in ACRES Commercial Realty Corp., which is typical for investment management firms.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, ensuring transparency in the market.
• Similar filings are made by entities like Redwood Trust and Starwood Property Trust when their major shareholders trade shares.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the change in ownership by a major holder.

Key Dates