ACRES Commercial Realty Corp. Reauthorizes an Additional $5 Million Share Repurchase Program
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) ha annunciato che il suo consiglio di amministrazione ha autorizzato un ulteriore programma di riacquisto di azioni del valore di 5 milioni di dollari per azioni ordinarie e privilegiate. La società prevede di eseguire questi riacquisti attraverso vari metodi, inclusi acquisti sul mercato aperto, transazioni negoziate privatamente e acquisti in blocco, nel rispetto delle leggi federali sui valori mobiliari, in particolare le Regole 10b-18 e 10b5-1 del Securities Exchange Act del 1934. I tempi e i volumi dei riacquisti saranno determinati dalla direzione in base alle condizioni di mercato e ad altri fattori.
ACRES Commercial Realty Corp. (NYSE: ACR) ha anunciado que su junta directiva ha autorizado un programa adicional de recompra de acciones por un valor de 5 millones de dólares tanto para acciones comunes como preferentes. La compañía planea llevar a cabo estas recompras a través de varios métodos, incluyendo compras en el mercado abierto, transacciones negociadas privadamente y compras en bloque, cumpliendo con las leyes federales de valores, específicamente las Reglas 10b-18 y 10b5-1 de la Ley de Intercambio de Valores de 1934. El momento y el volumen de las recompras serán determinados por la gerencia en función de las condiciones del mercado y otros factores.
ACRES 상업 부동산 주식회사 (NYSE: ACR)은 이사회의 승인을 받아 추가 500만 달러의 보통주 및 우선주 매입 프로그램을 발표했습니다. 회사는 공개 시장 구매, 비공식 거래 및 블록 구매를 포함한 다양한 방법으로 이러한 매입을 실행할 계획이며, 1934년 증권 거래법의 규칙 10b-18 및 10b5-1을 준수합니다. 매입의 시기와 규모는 시장 상황 및 기타 요인에 따라 경영진에 의해 결정될 것입니다.
ACRES Commercial Realty Corp. (NYSE: ACR) a annoncé que son conseil d'administration a autorisé un programme de rachat d'actions supplémentaire d'une valeur de 5 millions de dollars pour les actions ordinaires et préférentielles. La société prévoit d'exécuter ces rachats par divers moyens, y compris des achats sur le marché libre, des transactions négociées en privé et des achats en bloc, en conformité avec les lois fédérales sur les valeurs mobilières, en particulier les Règles 10b-18 et 10b5-1 de la Loi sur les valeurs mobilières de 1934. Le calendrier et le volume des rachats seront déterminés par la direction en fonction des conditions du marché et d'autres facteurs.
ACRES Commercial Realty Corp. (NYSE: ACR) hat bekannt gegeben, dass der Vorstand ein zusätzliches Programm zum Rückkauf von Aktien im Wert von 5 Millionen US-Dollar für sowohl Stamm- als auch Vorzugsaktien genehmigt hat. Das Unternehmen plant, diese Rückkäufe durch verschiedene Methoden durchzuführen, einschließlich des Kaufs am offenen Markt, privat ausgehandelter Transaktionen und Blockkäufen, im Einklang mit den Bundeswertpapiergesetzen, insbesondere den Regeln 10b-18 und 10b5-1 des Securities Exchange Act von 1934. Zeitpunkt und Umfang der Rückkäufe werden von der Geschäftsleitung auf der Grundlage der Marktbedingungen und anderer Faktoren bestimmt.
- Authorization of $5 million for share repurchases indicates financial capacity for capital return
- Flexibility in repurchase methods (open market, private negotiations, block purchases) allows for optimal execution
- Program includes both common and preferred shares, providing broader capital management options
- No guaranteed timeline or commitment to actually execute the repurchases
- Repurchase amount is relatively modest and may have impact on share price
Insights
The
The dual authorization for both common and preferred stock repurchases is noteworthy, as it gives management tactical options to optimize the capital structure. The open-ended nature of the program, without a specified timeline, suggests a prudent approach to execution based on market conditions and liquidity considerations. This flexibility is particularly important given the current interest rate environment and its impact on real estate financing markets.
While the authorization itself doesn't guarantee actual repurchases, it demonstrates the Board's commitment to shareholder value enhancement through multiple capital return mechanisms. For a company of ACR's size, maintaining this optionality without committing to a rigid buyback schedule aligns with sound financial management practices in the commercial real estate lending sector.
The Company cannot predict when or if it will repurchase any shares of common and preferred stock and the timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors.
About ACRES Commercial Realty Corp.
ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate ("CRE") mortgage loans and equity investments in commercial real estate properties through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market CRE lending with a focus on multifamily, student housing, hospitality, industrial and office property in top
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "trend," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.
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SOURCE ACRES Commercial Realty Corp.
FAQ
How much is ACRES Commercial Realty's new share repurchase authorization worth?
What methods will ACR use to execute its share repurchase program?
When will ACRES Commercial Realty begin its $5 million share buyback program?
Which types of shares are included in ACR's repurchase authorization?
