Acres Commercial Realty Corp Stock Price, News & Analysis

ACRES Commercial Realty Corp (NYSE: ACR) has announced quarterly cash dividend declarations for its preferred stock series. The company will distribute:

• A dividend of $0.6383681 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, reflecting a 10.21389% rate (three-month Term SOFR plus 5.927% spread)
• A dividend of $0.4921875 per share on its 7.875% Series D Cumulative Redeemable Preferred Stock

Both dividends will be paid on April 30, 2025, to stockholders of record as of April 1, 2025.

ACRES Commercial Realty (NYSE: ACR) has announced significant financial restructuring moves, including the complete repurchase of assets in ACRES Commercial Realty 2021-FL1 and 2021-FL2 securitizations and clearing its existing JP Morgan warehouse facility balance. The company has simultaneously secured a new $940 million managed facility with JP Morgan Chase Bank N.A.

The new facility, designed to leverage commercial mortgage loan investments, features a two-year reinvestment period and provides term funding with underlying loans. According to CEO Mark Fogel, this financing arrangement aims to diversify the company's capital sources at competitive pricing, supporting their business strategy and potential return enhancement.

ACRES Commercial Realty Corp. (NYSE: ACR), a real estate investment trust focused on commercial real estate mortgage loans and equity investments, reported its Q4 and full-year 2024 results. The company achieved a GAAP net income of $4.1 million, or $0.52 per diluted share, for Q4 2024.

CEO Mark Fogel highlighted that 2024 saw healthy loan payoffs and renewed transactional activity in real estate markets. The company's strategy remains focused on proactive portfolio management and aims to grow its loan portfolio in 2025 by investing with experienced sponsors in high-growth markets nationwide.

ACRES Commercial Realty Corp. (NYSE: ACR) has scheduled its fourth quarter 2024 earnings release for March 5, 2025, after market close. The company will host a conference call to discuss the results on March 6, 2025, at 10:00 a.m. Eastern Time.

Investors can access the live conference call by dialing 1-800-274-8461 (U.S. domestic) or 1-203-518-9814 (International) with Conference ID ACRES, or through the investor relations section of the company's website. A replay will be available on the website and by phone until March 20, 2025, using 1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International) with passcode 11157750.

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.