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. reports news on its commercial mortgage REIT business, including operating results, loan origination activity, portfolio management and equity investments in commercial real estate through direct ownership and joint ventures. The company focuses on originating, holding and managing commercial real estate mortgage loans and is externally managed by ACRES Capital, LLC.
Recurring updates include quarterly earnings releases, CRE CLO activity, real estate investment dispositions, preferred stock dividend declarations and corporate governance matters. News also covers capital-structure items tied to the company’s common stock, 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock and 7.875% Series D Cumulative Redeemable Preferred Stock.
ACRES Commercial Realty Corp. (NYSE: ACR) will announce its third quarter 2021 results on November 4, 2021, after market close. A live conference call will take place on the same day at 5:00 p.m. Eastern Time, accessible via phone or webcast. Interested participants can dial 1-800-920-2968 (U.S.) or 1-212-231-2908 (International) with passcode 21998549. A replay will be available until November 18, 2021. ACRES Commercial Realty focuses on CRE mortgage loans and is managed by ACRES Capital, LLC.
ACRES Commercial Realty Corp. (NYSE: ACR) has announced cash dividends for its Preferred Stock. Shareholders will receive $0.5390625 per share for the 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, and $0.4921875 for the 7.875% Series D Cumulative Redeemable Preferred Stock. Both dividends are payable on November 1, 2021, to holders of record as of October 1, 2021. This move reflects the company's ongoing commitment to returning value to its shareholders in the commercial real estate sector.
ACRES Commercial Realty Corp. (NYSE: ACR) announced the pricing of its underwritten public offering of $150 million in 5.75% Senior Unsecured Notes due 2026. The offering is expected to close around August 16, 2021. Proceeds will be used to redeem $50 million of its outstanding 12.00% Senior Unsecured Notes due 2027, costing approximately $55.3 million. Remaining funds will support loan originations consistent with the Company’s investment policies and general corporate purposes.
ACRES Commercial Realty Corp (NYSE: ACR) reported its Q2 2021 financial results, showing a net income of $10.1 million or $1.04 per diluted share for the three months ended June 30, 2021, and $20.5 million or $2.06 per diluted share for the six months. The company originated $470 million in commercial real estate loans during the quarter and closed an $803 million securitization. ACR's capital deployment has accelerated, and it plans to pursue further investment opportunities to enhance earnings.
ACRES Commercial Realty Corp. (NYSE: ACR) will release its second quarter 2021 results on August 4, 2021, after market close. A live conference call is scheduled for 5:00 p.m. Eastern Time on the same day, accessible via phone at 1-855-327-6837 (U.S.) or 1-631-891-4304 (International) using passcode 10015843. A replay will be available until August 18, 2021. The Company focuses on managing CRE mortgage loans and is external managed by ACRES Capital, LLC. Visit www.acresreit.com for more details.
ACRES Commercial Realty Corp. (NYSE: ACR) announced a successful public offering of 2,200,000 shares of its 7.875% Series D Cumulative Redeemable Preferred Stock, priced at $25.00 per share. This offering generated approximately $53.3 million in proceeds, which will be utilized for loan originations and general corporate purposes. The offering includes an additional 200,000 shares due to the underwriter's option. The Preferred Stock is now listed under the ticker symbol 'ACR PrD' on the NYSE.
ACRES Commercial Realty Corp. (NYSE: ACR) announced a follow-on public offering of 2,000,000 shares of its 7.875% Series D Cumulative Redeemable Preferred Stock at $25.00 per share, aiming to raise gross proceeds of $50 million. The offering is expected to close on June 30, 2021, and includes an option for underwriters to buy an additional 300,000 shares. Proceeds will be used for loan originations and general corporate purposes. Raymond James is the sole book-running manager for this offering, which is registered with the SEC.
ACRES Commercial Realty Corp. (NYSE: ACR) announced the appointment of Karen Edwards and Dawanna Williams to its Board of Directors on June 10, 2021. Edwards brings 30 years of experience in financial services, including a background in commercial mortgage REITs, while Williams has 20 years in real estate, focusing on property development in New York City. Chairman Andrew Fentress expressed optimism for their contributions toward growth and shareholder value.
ACRES Commercial Realty Corp. (NYSE: ACR) announced cash dividends for its Preferred Stock on June 9, 2021. Shareholders will receive $0.5390625 per share for the 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock and $0.377344 for the 7.875% Series D Cumulative Redeemable Preferred Stock. Both dividends will be paid on July 30, 2021, to holders on record as of July 1, 2021. ACRES focuses on managing commercial real estate mortgage loans and related debt investments, primarily in multifamily, hospitality, and office properties in key US markets.
ACRES Commercial Realty Corp. (NYSE: ACR) has priced a public offering of 2,400,000 shares of its 7.875% Series D Cumulative Redeemable Preferred Stock at $25.00 per share, potentially raising $60 million before expenses. Underwriters have a 30-day option for an additional 360,000 shares. The funds will be used for loan originations and general corporate purposes. The offering is set to close on May 21, 2021, and the Company plans to list the Preferred Stock on the NYSE under the ticker 'ACR PrD.'