ACRES COMMERCIAL REALTY CORP. REPORTS RESULTS FOR THIRD QUARTER 2024
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) ha riportato i risultati finanziari per il terzo trimestre del 2024, registrando un reddito netto GAAP di 2,8 milioni di dollari, ovvero 0,36 dollari per azione diluita. L'azienda, che si concentra su prestiti ipotecari per immobili commerciali e investimenti in equity tramite proprietà diretta e joint venture, mantiene la sua strategia di individuare opportunità di alta qualità salvaguardando il valore per gli azionisti. L'azienda terrà una conferenza telefonica il 31 ottobre 2024 per discutere in dettaglio questi risultati.
ACRES Commercial Realty Corp. (NYSE: ACR)報告ó sus resultados financieros del tercer trimestre de 2024, informando un ingreso neto GAAP de 2.8 millones de dólares, o 0.36 dólares por acción diluida. La compañía, que se centra en préstamos hipotecarios de bienes raíces comerciales e inversiones en capital a través de propiedad directa y asociaciones, mantiene su estrategia de identificar oportunidades de alta calidad mientras protege el valor para los accionistas. La compañía llevará a cabo una llamada de conferencia el 31 de octubre de 2024 para discutir estos resultados en detalle.
ACRES Commercial Realty Corp. (NYSE: ACR)는 2024년 3분기 재무 결과를 발표하며 GAAP 순이익이 280만 달러, 즉 희석주당 0.36달러에 해당한다고 보고했습니다. 상업용 부동산 모기지 대출 및 직접 소유와 조인트 벤처를 통한 투자에 초점을 맞춘 이 회사는 주주 가치를 보호하면서 고품질 기회를 찾아내는 전략을 유지하고 있습니다. 이 회사는 2024년 10월 31일에 이러한 결과에 대해 자세히 논의하기 위한 컨퍼런스 콜을 개최할 예정입니다.
ACRES Commercial Realty Corp. (NYSE: ACR) a annoncé ses résultats financiers du troisième trimestre 2024, affichant un revenu net GAAP de 2,8 millions de dollars, soit 0,36 dollar par action diluée. L'entreprise, qui se concentre sur les prêts hypothécaires immobiliers commerciaux et les investissements en capitaux par le biais de la propriété directe et de coentreprises, maintient sa stratégie d'identification d'opportunités de haute qualité tout en protégeant la valeur pour les actionnaires. L'entreprise organisera une conférence téléphonique le 31 octobre 2024 pour discuter de ces résultats en détail.
ACRES Commercial Realty Corp. (NYSE: ACR) hat seine Finanz Ergebnisse für das 3. Quartal 2024 veröffentlicht und einen GAAP Nettogewinn von 2,8 Millionen Dollar, oder 0,36 Dollar pro verwässerter Aktie, erzielt. Das Unternehmen, das sich auf kommerzielle Immobilienhypothekendarlehen und Eigenkapitalinvestitionen durch direkte Eigentümerschaft und Joint Ventures konzentriert, verfolgt weiterhin die Strategie, hochwertige Chancen zu identifizieren, während der Wert für die Aktionäre geschützt wird. Das Unternehmen wird am 31. Oktober 2024 eine Telefonkonferenz abhalten, um diese Ergebnisse im Detail zu besprechen.
- Net income of $2.8 million for Q3 2024
- Earnings per share of $0.36
- None.
Insights
The Q3 2024 results show modest profitability with
The lack of detailed financial metrics like loan portfolio performance, credit quality indicators, or net interest margin makes it challenging to assess the company's operational efficiency and risk management. The CEO's statement about maintaining a "robust and high-quality investment portfolio" lacks substantiating data, particularly important given the current challenging commercial real estate market conditions.
"We are proud of the diligent efforts of the ACRES team in maintaining a robust and high-quality investment portfolio," said ACRES Commercial Realty Corp. President & CEO Mark Fogel. "Our unwavering focus remains on identifying high-quality opportunities while steadfastly protecting and enhancing shareholder value."
ACR issued a full, detailed presentation of its results for the quarter ended September 30, 2024 that can be viewed at www.acresreit.com.
Earnings Call Details
ACR will host a live conference call on October 31, 2024 at 10:00 a.m. Eastern Time to discuss its third quarter 2024 operating results. The conference call can be accessed by dialing 1-800-274-8461 (
For those unable to listen to the live conference call, a replay will be available on the Company's website and telephonically through November 14, 2024 by dialing 1-844-512-2921 (
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 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 commercial real estate 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 Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "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, including, without limitation, factors impacting whether we will be able to maintain our sources of liquidity and whether we will be able to identify sufficient suitable investments to increase our originations. 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.
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