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

Eagle Point Credit Management LLC sold shares of ACRES Commercial Realty Corp.'s Series C and Series D preferred stock, reducing its holdings.

Summary

• Eagle Point Credit Management LLC, along with Eagle Point DIF GP I LLC, reported the sale of ACRES Commercial Realty Corp. preferred stock.
• On December 11, 2024, 2,614 shares of 8.625% Series C Preferred Stock were sold at an average price of $25.19 per share.
• Also on December 11, 2024, 1,036 shares of 7.875% Series D Preferred Stock were sold at an average price of $23.06 per share.
• An additional 3,226 shares of 7.875% Series D Preferred Stock were sold on December 12, 2024, also at an average price of $23.06 per share.
• The transactions were executed by private investment funds and accounts managed by Eagle Point Credit Management LLC.
• Following these transactions, Eagle Point Credit Management LLC indirectly holds 446,835 shares of Series C Preferred Stock, 904,720 shares of Series D Preferred Stock, and 1,191,307 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock sales, with no inherent positive or negative sentiment. It reflects a change in ownership but does not indicate a broader trend or company performance.

Negatives

• Eagle Point Credit Management LLC reduced its holdings in ACRES Commercial Realty Corp. preferred stock through these sales.

Risks

• The sales by Eagle Point Credit Management LLC could indicate a change in their investment strategy or outlook for ACRES Commercial Realty Corp.

Management Comments

• Kenneth P. Onorio, Chief Financial Officer of Eagle Point Credit Management LLC, signed the report on behalf of both Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC.

Industry Context

This filing reflects a specific transaction by a major shareholder in ACRES Commercial Realty Corp. and does not necessarily indicate broader trends in the commercial real estate or REIT sectors.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and major shareholders in publicly traded companies.
• The reported transactions are specific to Eagle Point Credit Management LLC's investment decisions and do not provide a direct comparison to industry-wide benchmarks or performance.

Stakeholder Impact

• The sales may have a minor impact on the share price of ACRES Commercial Realty Corp., but the overall impact is likely to be limited.

Key Dates

Keywords

ACRES Commercial Realty Corp, Eagle Point Credit Management, preferred stock, Series C Preferred Stock, Series D Preferred Stock, stock sale, investment funds, beneficial ownership