Real estate

ACRES Commercial Realty Corp. Reports Second Quarter 2024 Results

Strategic Insights

Jul 30, 2024 — 1 min read

ACRES Commercial Realty Corp., a real estate investment trust focused on commercial real estate mortgage loans and equity investments, reported a GAAP net income of $1.7 million for the quarter ended June 30, 2024. The company's president and CEO, Mark Fogel, highlighted the team's skill and dedication in managing the investment portfolio with precision and foresight. ACR aims to seek out new loan opportunities while prioritizing shareholder value. The company hosted an earnings call on August 1, 2024, to discuss its second quarter 2024 operating results.

Key Takeaways:

ACR reported a GAAP net income allocable to common shares of $1.7 million for the quarter ended June 30, 2024.
The company's president and CEO, Mark Fogel, emphasized the team's commitment to precision and foresight in managing the investment portfolio.
ACR's ongoing focus is to seek out new loan opportunities while maintaining the protection and enhancement of shareholder value.
The company hosted a live conference call on August 1, 2024, to discuss its second quarter 2024 operating results.
ACR's externally managed subsidiary, ACRES Capital, LLC, is a private commercial real estate lender dedicated to middle market lending in top U.S. markets.
The company's website provides additional information and investor relations contact details.

Statistics:

$1.7 million: ACR's GAAP net income allocable to common shares for the quarter ended June 30, 2024.
$0.21: ACR's earnings per share diluted for the quarter ended June 30, 2024.
1-800-267-6316 (U.S. domestic) and 1-203-518-9783 (International): Teleconference dial-in numbers for discussing second quarter 2024 operating results.
July 31, 2024: Date of the press release announcing ACR's second quarter 2024 results.

Sources:

ACRES Commercial Realty Corp. press release, July 31, 2024, accessed at PRNewswire.
ACRES Commercial Realty Corp. investor relations section of the company's website, accessed at .

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