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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) declared a cash dividend of $0.5390625 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock. This dividend is for the period from January 31, 2021 to April 30, 2021 and will be paid on April 30, 2021 to shareholders of record as of April 1, 2021. The company focuses on commercial real estate mortgage loans and related debt investments, providing strong returns to investors.
ACRES Commercial Realty Corp. (NYSE: ACR) announced that it will report its fourth quarter and fiscal year 2020 results on March 4, 2021, after market close. Investors can participate in a live conference call at 5:00 p.m. Eastern Time on the same day by dialing 1-877-407-0789 for U.S. calls or 1-201-689-8562 for international calls, using passcode 13716075. Additionally, a replay of the call will be available until March 18, 2021. The company focuses on commercial real estate mortgage loans and is externally managed by ACRES Capital, LLC.
Exantas Capital Corp. (NYSE: XAN) will change its name to ACRES Commercial Realty Corp. effective February 16, 2021. This name change follows the acquisition of its management contract by ACRES Capital Corp. Additionally, a 3-for-1 reverse stock split will occur, affecting common stock and preferred stock, with new trading symbols set for February 17, 2021. The reverse stock split will not affect ownership percentages, and shareholders will receive cash for any fractional shares resulting from the split.
Exantas Capital Corp. (NYSE:XAN) has declared a cash dividend of $0.5390625 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock for the period from October 31, 2020 to January 30, 2021. This dividend will be paid on February 1, 2021 to shareholders on record as of January 4, 2021. Exantas Capital focuses on originating and managing commercial real estate mortgage loans and related investments, primarily in areas like multifamily and student housing.
Exantas Capital Corp. (NYSE: XAN) reported its Q3 2020 results with a GAAP net income of $5.6 million or $0.17 per share, down from $10.0 million or $0.31 per share a year earlier. The company faced a significant GAAP net loss of $229.5 million for the nine months ended September 30, 2020, primarily due to $180.3 million in losses from its CMBS portfolio. Exantas liquidated a CRE debt securitization and restructured its debt, enhancing its liquidity. The company has $947 million available for new loan originations and continues its share repurchase program, authorizing up to $20 million in buys.
Exantas Capital Corp. (NYSE:XAN) will release its third quarter 2020 operating results on November 4, 2020, 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 dial 877-407-0789 (U.S.) or 201-689-8562 (International) with passcode 13712399. A replay will be available from 8:00 p.m. Eastern Time on November 4 through November 18 by calling 844-512-2921 (U.S.) or 412-317-6671 (International). More details can be found on the Company’s website.
Exantas Capital Corp. (NYSE: XAN) announced the issuance of $245.8 million in floating-rate notes through its subsidiaries, Exantas Capital Corp. 2020-RSO9, Ltd. and Exantas Capital Corp. 2020-RSO9, LLC. The notes, backed by approximately $275.4 million in commercial real estate loans, will close by September 30, 2020, subject to standard conditions. The Class A Notes have a rating of Aaa(sf) with a coupon of LIBOR+250 basis points. CEO Mark Fogel indicated this issuance reflects a stabilizing market, enhancing the company's position for future loan originations.
Exantas Capital Corp. (NYSE: XAN) reported a substantial GAAP net loss of $36.0 million for Q2 2020, translating to $(1.14) per share-diluted, primarily due to non-cash provisions for credit losses. The company secured up to $375.0 million in new capital commitments, enhancing liquidity amidst COVID-19 challenges. Core Earnings showed a profit of $7.5 million or $0.24 per share-diluted. As of June 30, 2020, GAAP book value per common share dropped to $6.01 from $7.13 at the end of Q1 2020. The company continues to focus on its CRE loan portfolio, primarily composed of floating-rate loans.
