ACRES Commercial Realty Corp. Declares Quarterly Cash Dividends for its Preferred Stock
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Rhea-AI Summary
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.
Positive
- Declared cash dividends of $0.5390625 for Series C and $0.4921875 for Series D.
- Dividends payable on January 30, 2023, providing immediate income to shareholders.
Negative
- None.
Details
News Market Reaction – ACR
The recorded move for ACR in the trading session of this news was -15.16%.
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UNIONDALE, N.Y., Dec. 21, 2022 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) (the "Company") announced today that its Board of Directors declared cash dividends on its Preferred Stock.
The Company will pay a cash dividend on its
The Company will also pay a cash dividend on its
ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate ("CRE") mortgage loans and equity investments in commercial real estate property 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 CRE 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.
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," "trend," "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. 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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