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home / news releases / ACR - ACRES Commercial Realty in green on significant Q2 revenue growth driven by NII and rental income

ACR - ACRES Commercial Realty in green on significant Q2 revenue growth driven by NII and rental income

ACRES Commercial Realty Corp Com
  • ACRES Commercial Realty ( NYSE: ACR ) beat its Q2 earnings and revenue estimates and also saw a significant Y/Y surge in revenues.
  • Total revenues growth of 104% led by increase in net interest income to $11.27M from $7.09M in year ago quarter; real estate income multiplied more than three times to $8.78M.
  • Net income narrowed to $5.52M from $13.64M in year ago quarter.
  • Earnings available for distribution increased to $0.45/share from $0.10/share in year ago quarter.
  • The company's book value saw a 2% increase to $24.48.
  • Projected operating loss carryforwards of ~$63M, expected to be fully utilized; projected capital loss carryforwards of ~$139M, expected to be partially utilized.

For further details see:

ACRES Commercial Realty in green on significant Q2 revenue growth driven by NII and rental income
Stock Information
Company Name: ACRES Commercial Realty Corp Com
Stock Symbol: ACR
Market: NYSE
Website: acresreit.com
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