The sales included 2,614 shares of the 8.625% Series C Preferred Stock and 4,262 shares of the 7.875% Series D Preferred Stock. Following these transactions, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC hold 446,835 shares of the Series C and 904,720 shares of the Series D Preferred Stock. Additionally, they maintain a position of 1,191,307 shares of ACRES Commercial Realty's common stock.These transactions are part of Eagle Point's ongoing management of its investment portfolio, with shares held indirectly through various private investment funds and accounts. The stock has shown remarkable performance, with a 78% gain year-to-date, while trading at an attractive Price-to-Book ratio of 0.28. For detailed analysis and additional insights, including 8 more exclusive tips, visit InvestingPro. The stock has shown remarkable performance, with a 78% gain year-to-date, while trading at an attractive Price-to-Book ratio of 0.28. For detailed analysis and additional insights, including 8 more exclusive tips, visit InvestingPro.
The sales included 2,614 shares of the 8.625% Series C Preferred Stock and 4,262 shares of the 7.875% Series D Preferred Stock. Following these transactions, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC hold 446,835 shares of the Series C and 904,720 shares of the Series D Preferred Stock. Additionally, they maintain a position of 1,191,307 shares of ACRES Commercial Realty's common stock.
These transactions are part of Eagle Point's ongoing management of its investment portfolio, with shares held indirectly through various private investment funds and accounts.
In other recent news, significant executive leadership changes have been announced at InPoint Commercial Real Estate Income, Inc. Following the resignation of Mitchell A. Sabshon, the Board appointed Donald MacKinnon as the new Chairman and Denise C. Kramer as the new CEO. Kramer, with a background in accounting, finance, and a wealth of experience in senior roles, is expected to bring stability to the company's strategic direction.
Simultaneously, ACRES Commercial Realty Corp has reported its Q3 2024 financial results, revealing a net decrease in its loan portfolio and a dip in earnings available for distribution (EAD). However, the company did note a slight increase in GAAP book value per share. The company's management has outlined future strategies focusing on asset monetization and credit quality improvement, with plans to reinvest in new loans.
In terms of analyst interactions, Raymond (NS:RYMD) James analyst Stephen Laws engaged with ACRES' management during the Q3 earnings call, discussing upcoming asset liquidations and the impact of REO assets on EAD. These recent developments at both InPoint Commercial Real Estate and ACRES Commercial Realty Corp highlight the evolving landscape within the real estate investment trust sector.
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