Welcome to our dedicated page for ACRES Commercial Realty news (Ticker: ACR), a resource for investors and traders seeking the latest updates and insights on ACRES Commercial Realty stock.
ACRES Commercial Realty Corp. (NYSE: ACR) is a prominent real estate investment trust (REIT) that specializes in originating, holding, and managing commercial real estate (CRE) mortgage loans and equity investments in commercial real estate properties. The company operates through direct ownership and joint ventures, targeting a diverse range of commercial real estate assets. ACRES Commercial Realty Corp.'s investment portfolio includes whole loans, A notes, B notes, mezzanine loans, and mortgage-related securities. They also engage in commercial finance assets such as asset-backed securities, senior secured corporate loans, equipment leases and notes, trust preferred securities, debt tranches of collateralized debt obligations, and private equity investments.
ACRES Commercial Realty Corp. is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., which focuses on nationwide middle-market CRE lending. The company's primary markets include multifamily, student housing, hospitality, industrial, and office properties, particularly in top U.S. markets.
In recent news, the company announced financial results for various quarters, highlighting a GAAP net income allocable to common shares of $2.9 million or $0.33 per share-diluted for the quarter ended September 30, 2023. The results underscore the company's effective asset management strategies and commitment to maintaining a high-quality investment portfolio. Additionally, the company declared cash dividends on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock and 7.875% Series D Cumulative Redeemable Preferred Stock.
Moreover, ACRES Commercial Realty Corp. continues to focus on enhancing shareholder value through strategic initiatives, including share repurchase programs. The board recently authorized the repurchase of up to an additional $10 million of outstanding shares of both common and preferred stock, demonstrating their proactive approach to capital management.
As part of its leadership transition, ACRES announced the retirement of David J. Bryant, the Senior Vice President, Chief Financial Officer, and Treasurer, effective December 31, 2023. Eldron C. Blackwell will succeed him, ensuring a seamless transition and continued stability in the company's financial operations.
ACRES Commercial Realty Corp. consistently prioritizes maintaining strong credit quality and leveraging market opportunities to maximize shareholder returns. Their detailed quarterly presentations and earnings calls provide comprehensive insights into the company's financial health and operational strategies, reinforcing their commitment to transparency and investor engagement.
ACRES Commercial Realty Corp. (NYSE: ACR) has announced that its board of directors has authorized an additional $5 million share repurchase program for both common and preferred stock. The company plans to execute these repurchases through various methods including open market purchases, privately-negotiated transactions, and block purchases, in compliance with federal securities laws, specifically Rules 10b-18 and 10b5-1 of the Securities Exchange Act of 1934. The timing and volume of repurchases will be determined by management based on market conditions and other factors.
ACRES Commercial Realty Corp. (NYSE: ACR) has announced quarterly cash dividend declarations for its preferred stock series. The company will pay a $0.6572606 per share dividend on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, reflecting a rate of 10.51617% (three-month Term SOFR plus 5.927%). Additionally, a $0.4921875 per share dividend will be paid on its 7.875% Series D Cumulative Redeemable Preferred Stock. Both dividends will be payable on January 30, 2025, to shareholders of record as of January 2, 2025.
ACRES Commercial Realty Corp. (NYSE: ACR) reported its Q3 2024 financial results, posting a GAAP net income of $2.8 million, or $0.36 per share-diluted. The company, which focuses on commercial real estate mortgage loans and equity investments through direct ownership and joint ventures, maintains its strategy of identifying high-quality opportunities while protecting shareholder value. The company will host a conference call on October 31, 2024, to discuss these results in detail.
ACRES Commercial Realty Corp. (NYSE: ACR) has announced that it will release its third quarter 2024 results on Wednesday, October 30, 2024, after the market closes. The company will host a live conference call on Thursday, October 31, 2024, at 10:00 a.m. Eastern Time to discuss the results.
Investors and interested parties can access the call by dialing 1-800-274-8461 (U.S. domestic) or 1-203-518-9814 (International) with Conference ID ACRES. Alternatively, the call can be accessed from the investor relations section of the company's website at www.acresreit.com.
For those unable to attend the live call, a replay will be available on the company's website and telephonically through November 14, 2024 by dialing 1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International) with passcode 11156888.
ACRES Commercial Realty Corp (NYSE: ACR) has announced quarterly cash dividends for its preferred stock. The company will pay $0.6988981 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, reflecting a rate of 11.18237%. This rate is based on the three-month Term SOFR plus a spread of 5.927% per annum. Additionally, ACR will pay $0.4921875 per share on its 7.875% Series D Cumulative Redeemable Preferred Stock. Both dividends are payable on October 30, 2024, to shareholders of record as of October 1, 2024. The floating rate period for Series C Preferred Stock dividends began on July 30, 2024.
ACRES Commercial Realty Corp. (NYSE: ACR) has announced the release date for its second quarter 2024 financial results. The company will disclose its Q2 2024 results on Wednesday, July 31, 2024, after market close. ACR will host a live conference call on Thursday, August 1, 2024, at 10:00 a.m. Eastern Time to discuss the results.
Investors and interested parties can join the call via telephone or webcast. The conference call can be accessed by dialing 1-800-267-6316 (U.S. domestic) or 1-203-518-9783 (International), using Conference ID NUWEQ2. Alternatively, participants can listen through the investor relations section of the company's website at www.acresreit.com. A replay of the call will be available on the company's website and by phone until August 15, 2024.
ACRES Commercial Realty Corp. (NYSE: ACR) announced that its Board of Directors declared cash dividends for its Preferred Stock. The 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock will receive a dividend of $0.5390625 per share, payable on July 30, 2024, to shareholders of record on July 1, 2024.
The 7.875% Series D Cumulative Redeemable Preferred Stock will receive a dividend of $0.4921875 per share, also payable on July 30, 2024, to shareholders of record on July 1, 2024.
ACRES Commercial Realty Corp. reported its first quarter 2024 results, with GAAP net income of $556,000, or $0.07 per share-diluted. President & CEO Mark Fogel emphasized portfolio stability and shareholder value enhancement opportunities. A detailed presentation is available on the company's website. A live conference call to discuss operating results will be held on May 2, 2024.
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