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ACRES Commercial Realty (ACR)
NYSE:ACR
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.36Last Year’s EPS
$0.55Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 5.21%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with notable achievements in student housing performance and successful foreclosures, but also challenges in the form of a contracting loan portfolio, decreased earnings distribution, and real estate operation losses. While the company shows resilience and strategic focus on monetizing assets and managing debt, these positive aspects are balanced by the financial setbacks and operational challenges faced in the quarter.Company Guidance
During the third quarter 2024 earnings call for ACRES Commercial Realty Corp (ACR), the company provided comprehensive guidance on various metrics and strategic actions. The loan portfolio experienced a net decrease of $134.4 million, with loan payoffs totaling $118.1 million and foreclosures at $23.7 million, while funded commitments were $7.4 million. The company's commercial real estate loan portfolio stood at $1.6 billion, with a weighted average spread of 3.73% over 1-month term SOFR rates. At the end of the quarter, 11 loans were rated 4 or 5, representing 23% of the portfolio's par value. GAAP net income allocable to common shares was reported at $2.8 million or $0.36 per share diluted, and the total allowance for credit losses stood at $34.7 million, representing 2.19% of the loan portfolio at par. The GAAP book value per share increased to $27.92, and the company reported available liquidity of $79 million. The call also highlighted strategic efforts to monetize real estate investments, including a student housing development near Florida State University and two foreclosed properties, with plans to reinvest potential gains into the loan portfolio.Student Housing Development Success
The student housing development near Florida State University opened in August at 95% occupancy, showing strong performance and potential for future gains upon sale.
Successful Foreclosure and Gain
Foreclosure on an office property in Austin, Texas, resulted in a $2.8 million unrealized gain based on market offers.
Decrease in CECL Reserves
A decrease in current expected credit losses (CECL) reserves by $291,000 was reported, indicating an improvement in credit risk management.
Stock Repurchase Program
Repurchased 114,000 common shares at a 46% discount to book value, using $1.7 million, indicating a focus on enhancing shareholder value.
Debt Leverage Improvement
GAAP debt-to-equity leverage ratio decreased to 3.3x from 3.6x, reflecting effective management of debt obligations.
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ACR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ACR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $15.17 | $15.30 | +0.86% |
| Jul 31, 2024 | $14.32 | $14.83 | +3.56% |
| May 01, 2024 | $13.50 | $13.00 | -3.70% |
| Feb 28, 2024 | $10.93 | $11.05 | +1.10% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ACRES Commercial Realty (ACR) report earnings?
ACRES Commercial Realty (ACR) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is ACRES Commercial Realty (ACR) earnings time?
ACRES Commercial Realty (ACR) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ACR EPS forecast?
ACR EPS forecast for the fiscal quarter 2024 (Q4) is $0.36.
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