ACRES COMMERCIAL REALTY CORP. REPORTS RESULTS FOR THIRD QUARTER 2022
ACRES Commercial Realty Corp. (NYSE: ACR) reported a GAAP net income of $713,000, or $0.08 per diluted share, for the quarter ended September 30, 2022. CEO Mark Fogel emphasized a commitment to delivering long-term value by focusing on high-quality investments and portfolio management. A detailed presentation of quarterly results is available on the company’s website. ACR will host an earnings call on November 3, 2022, to discuss its Q3 2022 performance, with a replay accessible until November 17, 2022.
- GAAP net income of $713,000 for Q3 2022, upholding financial stability.
- Earnings per diluted share at $0.08, providing earnings to shareholders.
- None.
UNIONDALE, N.Y., Nov. 3, 2022 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) ("ACR" or the "Company"), 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 property through direct ownership and joint ventures, today reported results for the quarter ended September 30, 2022. ACR's GAAP net income allocable to common shares was
"Mindful of the current environment, we remain vigilant to deliver shareholders long-term value," said ACRES Commercial Realty Corp. President & CEO Mark Fogel. "We will continue to execute on our business plan by selectively originating high-quality investments, actively managing the portfolio, and continuing to focus on growing earnings and book value for our shareholders."
ACR issued a full, detailed presentation of its results for the quarter ended September 30, 2022 that can be viewed at www.acresreit.com.
Earnings Call Details
ACR will host a live conference call on November 3, 2022 at 5:00 p.m. Eastern Time to discuss its third quarter 2022 operating results. The conference call can be accessed by dialing 1-877-300-8521 (U.S. domestic) or 1-412-317-6026 (International) with the passcode 10171035 or from the investor relations section of the Company's website at www.acresreit.com.
For those unable to listen to the live conference call, a replay will be available on the Company's website and telephonically through November 17, 2022 by dialing 1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International), passcode 10171035.
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 U.S. markets. For more information, please visit the Company's website at www.acresreit.com or contact investor relations at IR@acresreit.com.
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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