ACRES Commercial Realty Corp. Reports Results For Three And Six Months Ended June 30, 2021
WESTBURY, NY, 4th August 2021 / PRNewswire / – ACRES Commercial Realty Corp. (NYSE: ACR) (“ACR” or the “Company”), a real estate investment trust primarily focused on the issuing, holding and management of mortgage loans for commercial real estate and other commercial real estate-related debt, released today Results for the three and six months ended June 30, 2021. ACR’s GAAP net income attributable to common stock was $ 10.1 million, or $ 1.04 diluted per share and $ 20.5 million, or $ 2.06 diluted per share for the three and six months ended June 30, 2021.
“We are pleased that we have accelerated our capital investment significantly in the second quarter, as we are establishing our company $ 470 million commercial real estate loans, “said the chief executive officer and president of ACR Mark Fogel. “With an excellent reputation as a medium-sized lender, we have an attractive pipeline of opportunities. In addition, we continue to generate additional sources of funding, including our new class of preferred stocks and the conclusion of a $ 803 million Securitization in May. We anticipate that we will continue to pursue investment opportunities as we seek to grow earnings and book value over time. “
ACR published a full, detailed presentation of its results for the three and six months ended June 30, 2021, which can be viewed at www.acresreit.com.
Revenue call details
ACR will host a live conference call on 4th August 2021 at 5:00 p.m. Eastern Time to discuss the operating results for the second quarter of 2021. The conference call can be held at 1-855-327-6837 (US Domestic) or 1-631-891-4304 (International) using passcode 10015843, or through the Investor Relations area of the Company’s website at www.acresreit. com. For those unable to overhear the live conference, a recording will be made on the company’s website and over the phone. be available August 18, 2021 by dialing 1-844-512-2921 (US domestic) or 1-412-317-6671 (international), passcode 10015843.
About ACRES Commercial Realty Corp.
ACRES Commercial Realty Corp. is a real estate investment trust primarily focused on the issuing, holding and management of mortgage loans for commercial real estate and other real estate-related debt investments. The company is sourced externally from ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender specializing exclusively in mid-market national commercial real estate lending with a focus on apartment buildings, student dormitories, hospitality, industrial and office properties. managed in the top US markets. For more information, please visit the company’s website at www.acresreit.com or contact Investor Relations at [email protected].
Forward-Looking Statements
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 made through our use of forward-looking terminology such as “may,” “will,” “continue,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “look ahead” or similar words or expressions. Because such statements involve risks, uncertainties and contingencies, actual results could differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied in such forward-looking statements Results will be discussed in the filings the company filings with the Securities and Exchange Commission from time to time, including but not limited to factors that affect our ability and ability to maintain our sources of liquidity will be to identify sufficient suitable investments to support our Orig to increase investments. The company undertakes no obligation to update or revise any forward-looking statements to reflect new or changing information or events after the date of this publication or the occurrence of unforeseen events, except as required by law.
SOURCE ACRES Commercial Realty Corp.
related links
https://www.acresreit.com