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) announced its first quarter 2023 earnings release scheduled for May 3, 2023, after market closure. Investors are invited to join a conference call on May 4, 2023, at 11:00 a.m. Eastern Time. Participants can access the call by dialing 1-877-300-8521 for domestic calls or 1-412-317-6026 for international calls. For those who cannot attend, a replay will be available until May 18, 2023, by calling 1-844-512-2921 (domestic) or 1-412-317-6671 (international) using passcode 10176564. ACRES Commercial Realty focuses on originating, holding, and managing commercial real estate mortgage loans and equity investments across various sectors, including multifamily and industrial properties in top U.S. markets.
ACRES Commercial Realty Corp. (NYSE: ACR) announced the declaration of cash dividends on its preferred stock. The 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock will yield a dividend of $0.5390625 per share, while the 7.875% Series D Cumulative Redeemable Preferred Stock will provide $0.4921875 per share. Both dividends are payable on May 1, 2023, to shareholders on record as of April 3, 2023.
This announcement underscores the company’s ongoing commitment to returning value to shareholders while reinforcing its position as a significant player in the commercial real estate sector.
ACRES Commercial Realty Corp. (NYSE: ACR) has partnered with Project Destined to promote financial literacy and entrepreneurship among students from underserved communities. The initiative will provide real-world experience and mentorship in commercial real estate to 15 selected students from various colleges, including NYU and Cornell. This partnership aims to prepare students for careers in real estate through hands-on learning, including evaluating actual deals and competing for scholarships. ACRES CEO, Mark Fogel, emphasized the importance of nurturing the next generation of real estate leaders through this engagement.
ACRES Commercial Realty Corp (NYSE: ACR) reported a GAAP net loss of
ACRES Commercial Realty Corp. (NYSE: ACR) announced it will release its fourth quarter and year-end results on March 2, 2023, after market close. Investors are invited to join a live conference call at 5:00 p.m. ET on the same day, accessible via telephone or webcast. Dial-in options include 1-877-300-8521 (U.S.) or 1-412-317-6026 (International) with the passcode 10174643. A replay will be available until March 16, 2023. ACRES focuses on originating, holding, and managing commercial real estate mortgage loans and investments, primarily in multifamily, student housing, and other sectors across the U.S.
ACRES Commercial Realty Corp. (NYSE: ACR) announced cash dividends for its Preferred Stock, declaring $0.5390625 per share for the 8.625% Series C and $0.4921875 per share for the 7.875% Series D. Both dividends will be paid on January 30, 2023, to shareholders on record as of January 2, 2023. This announcement reaffirms the company’s commitment to providing value to its investors through consistent dividend payments, positioning itself favorably in the commercial real estate sector.
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.
ACRES Commercial Realty Corp. (NYSE: ACR) will announce its third quarter 2022 results on November 3, 2022, after market closure. Investors are invited to participate in a live conference call on the same day at 5:00 p.m. Eastern Time, accessible via telephone or webcast. Domestic participants can call 1-877-300-8521, while international callers can dial 1-412-317-6026 with passcode 10171035. A replay will be available until November 17, 2022. ACRES focuses on commercial real estate mortgage loans and equity investments through direct ownership and joint ventures.
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