Form 4: Eagle Point Credit Management Sells ACRES Commercial Realty Preferred Stock

Eagle Point Credit Management LLC sold 4,182 shares of ACRES Commercial Realty Corp's 8.625% Series C Preferred Stock at an average price of $25.14 per share.

Summary

• Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, reported a sale of 4,182 shares of ACRES Commercial Realty Corp's 8.625% Series C Preferred Stock.
• The sale occurred on November 25, 2024, at a weighted average price of $25.14 per share, with individual transaction prices ranging from $25.14 to $25.17.
• Following the transaction, Eagle Point Credit Management LLC indirectly holds 467,611 shares of the 8.625% Series C Preferred Stock, 909,783 shares of the 7.875% Series D Preferred Stock, and 1,191,307 shares of common stock.
• The reporting persons disclaim beneficial ownership of the securities, stating that they are held by private investment funds and accounts managed by Eagle Point Credit Management LLC.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to a stock sale. It does not contain any information that would indicate a positive or negative sentiment.

Management Comments

• Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC disclaim beneficial ownership of the securities reported.

Industry Context

This filing reflects a routine transaction by a significant shareholder in ACRES Commercial Realty Corp. It is common for investment management firms to adjust their holdings in response to market conditions or fund strategies.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for insiders and significant shareholders of publicly traded companies in the US.
• The transaction is relatively small in the context of the total outstanding shares of ACRES Commercial Realty Corp.
• The sale of preferred stock is a common activity for investment firms managing diverse portfolios.

Stakeholder Impact

• The sale of preferred stock may have a minor impact on the market price of the stock, but it is unlikely to have a significant impact on other stakeholders.

Key Dates

Keywords

ACRES Commercial Realty Corp, Eagle Point Credit Management, Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Stock Sale, Beneficial Ownership, Form 4