Chapman Capital sells more shares of American Community Properties Trust

By Lisa Kerner

Charlotte, N.C., June 6 - American Community Properties Trust investors led by Chapman Capital LLC sold 112,508 shares between April 17 and June 5 priced from $13.85 to $17.50 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Chapman Capital beneficially owns 276,763 shares, or 5.3%, of the company's outstanding stock.

It was previously reported in March that American Community was considering restructuring so that it may elect to be treated as a real estate investment trust for U.S. federal income tax purposes.

American Community is a diversified real estate organization based in St. Charles, Md. The company also has operations in Puerto Rico.

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