ACRES Commercial Realty: The Discount To Book Value Is Too Much [Seeking Alpha]
ACRES Commercial Realty Corp. (ACR)
Company Research
Source: Seeking Alpha
The mREIT's focus on multifamily loans means it's less exposed to office real estate as implied by the discounting of the commons. ACR's Series C preferreds are set to float at a materially higher coupon in a few months. ACRES Commercial Realty's ( NYSE: ACR ) remarkable discount to its book value remains steep even after its 50% 1-year rally. The commercial mortgage REIT last reported a GAAP book value per share of at the end of its fiscal 2023 fourth quarter, this was a sequential increase of $1.58 per share primarily on the back of the mREIT's stock buyback program that saw its weighted average number of outstanding shares end the fourth quarter dip 2.78% year-over-year to 8,566,058. ACR at its current $14.09 stock price is swapping hands at a significant 47% discount to book value. The program has roughly $9.8 million left after the buyback authorization was expanded by $10 million in November. ACR's loan portfolio at the end of the fourth quarter stood at billion before a
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ACR
News
- ACRES Commercial Realty Corp. to Report Results for First Quarter 2024 [Yahoo! Finance]Yahoo! Finance
- ACRES Commercial Realty Corp. to Report Results for First Quarter 2024PR Newswire
- These Were The Best Performing REITs Last Month [Yahoo! Finance]Yahoo! Finance
- Institutional investors own a significant stake of 50% in ACRES Commercial Realty Corp. (NYSE:ACR) [Yahoo! Finance]Yahoo! Finance
- ACRES Commercial Realty (ACR) Surges 9.7%: Is This an Indication of Further Gains? [Yahoo! Finance]Yahoo! Finance
ACR
Earnings
- 2/28/24 - Miss
ACR
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- ACR's page on the SEC website