ACRES Commercial Realty: Book Value Expands As Buybacks Shrink Outstanding Shares

2025-12-11 09:59:49 ET

While ACRES Commercial Realty Corp. ( ACR ) trades at a double-digit discount to a book value per share that expanded by around 6% sequentially during its fiscal 2025 third quarter, the mREIT does not pay a dividend, and further upside on its commons might be capped after a 44% year-to-date return. ACR offers a capital return program that has centered on consistent share buybacks that have reduced its shares outstanding by 28% over the last 5 years. The mREIT's weighted average number of common shares outstanding at the end of its third quarter at 7,314,332 dipped by 7.95% over its year-ago comp. ACR bought back 153,000 common shares at a 36% discount to book value during the third quarter for $2.9 million. There was roughly $2.5 million outstanding on the mREIT's stock buyback program at the end of the quarter. Critically, GAAP book value ended the third quarter at $29.63 per share, up $1.70 per share from the second quarter, with the common shares trading at a 20.42% discount to book value. This represents a continued upside for management's capital return strategy....

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