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ACR Acres Commercial Realty News Story

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ACRES Commercial Realty posts Q3 net income of $9.8 mln

Overview

ACRES Commercial Realty Q3 GAAP net income was $9.8 mln, $1.34 per share-diluted

Company redeployed proceeds from asset sale into new loans

ACRES aims to grow portfolio by investing in high-quality loans

Outlook

Company expects to grow its portfolio by investing in high-quality loan opportunities

Result Drivers

ASSET SALE - Sale of real estate investment utilized deferred tax assets, proceeds reinvested into new loans

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Net Income$9.80 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the specialized reits peer group is "hold." Wall Street's median 12-month price target for Acres Commercial Realty Corp is $23.50, about 19.1% above its October 28 closing price of $19.02 The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 23 three months ago Press Release: ID:nPn788b1Wa For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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