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. (ACR) reported a GAAP net income of $690,000, or $0.08 per diluted share, for Q2 2022. CEO Mark Fogel expressed confidence in the company's portfolio management amid current market conditions. ACR will discuss its earnings on a live call on August 4, 2022, at 5:00 p.m. ET. A replay will be available until August 18, 2022. Full results can be found on their website.
ACRES Commercial Realty Corp. (NYSE: ACR) will announce its second quarter 2022 financial results on August 4, 2022, after market close. A live conference call will occur at 5:00 p.m. Eastern Time on the same day, accessible via telephone at 1-877-300-8521 (domestic) or 1-412-317-6026 (international) with the passcode 10168048. A replay will be available until August 18, 2022. ACRES focuses on managing commercial real estate mortgage loans and equity investments. For more details, visit www.acresreit.com.
ACRES Commercial Realty Corp. (NYSE: ACR) announced cash dividends for its Preferred Stock. Shareholders will receive $0.5390625 per share for the 8.625% Fixed-to-Floating Series C stock, and $0.4921875 per share for the 7.875% Series D stock. Both dividends will be paid on August 1, 2022, to holders of record as of July 1, 2022. The company focuses on originating and managing commercial real estate mortgage loans and equity investments.
On May 5, 2022, ACRES Commercial Realty Corp (NYSE: ACR) reported a GAAP net loss of $2.8 million, equating to $(0.30) per share for the quarter ending March 31, 2022. CEO Mark Fogel emphasized the company's focus on credit quality and proactive portfolio management to enhance earnings and shareholder value. A detailed presentation of the results is available on their website. An earnings call is scheduled for the same day at 5:00 PM ET.
ACRES Commercial Realty Corp. (NYSE: ACR) announced that it will publish its first quarter 2022 results on May 5, 2022, after market closure. A live conference call is scheduled for the same day at 5:00 p.m. Eastern Time, accessible via phone or webcast. Interested parties can dial 1-800-926-9801 for domestic or 1-212-231-2936 for international access, using passcode 22017480. A replay will be available until May 19, 2022. ACRES focuses on commercial real estate mortgage loans and equity investments.
ACRES Commercial Realty Corp. (NYSE: ACR) has declared cash dividends for its Preferred Stock. The dividend for its 8.625% Fixed-to-Floating Series C will be $0.5390625 per share, payable on May 2, 2022, to holders of record by April 1, 2022. For the 7.875% Series D, the dividend will be $0.4921875 per share, also payable on May 2, 2022, to holders of record by April 1, 2022. This announcement underlines the Company’s commitment to providing returns to its shareholders.
ACRES Commercial Realty Corp. (NYSE: ACR) announced its financial results for Q4 and the year ending December 31, 2021. The company reported a GAAP net income of $7.3 million ($0.76 per diluted share) for Q4 and $18.0 million ($1.85 per diluted share) for the full year. Notably, 2021 marked a record year for ACR, with over $1.5 billion in loan originations and securitizations. The CEO emphasized a strong loan portfolio and growth opportunities. A live earnings call is scheduled for March 3, 2022, at 5:00 p.m. ET.
ACRES Commercial Realty Corp. (NYSE:ACR) will announce its fourth quarter 2021 results on March 3, 2022, after market close. A live conference call is scheduled for the same day at 5:00 p.m. Eastern Time, accessible via phone or webcast. Investors can join by calling 1-877-407-0792 (U.S.) or 1-201-689-8263 (International) with the passcode 13727272. A replay of the call will be available until March 17, 2022.
ACRES specializes in commercial real estate mortgage loans and related debt investments.
On December 23, 2021, ACRES Commercial Realty Corp. (NYSE: ACR) announced cash dividends for its Preferred Stock. Holders of the 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock will receive $0.5390625 per share, while those holding the 7.875% Series D Cumulative Redeemable Preferred Stock will receive $0.4921875 per share. Both dividends are payable on January 31, 2022, to shareholders of record as of January 3, 2022. This announcement reflects the company's commitment to returning value to shareholders.
ACRES Commercial Realty Corp. (NYSE: ACR) announced the issuance of $567 million in non-recourse, floating-rate notes through its newly formed subsidiaries. The Offered Notes will be aligned with a weighted average cost of LIBOR+180 basis points. The company’s total capacity for financing commercial real estate loans now stands at approximately $1.5 billion. The transaction, which includes various classes of notes rated by Moody's and DBRS Morningstar, is set to close by December 21, 2021.
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