ACRES Commercial: Q2 Earnings Snapshot

Associated Press Finance
1-min read

UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — ACRES Commercial Realty Corp. (ACR) on Wednesday reported second-quarter profit of $1.7 million.

The Uniondale, New York-based company said it had profit of 21 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 51 cents per share.

The commercial real estate investment trust posted revenue of $20.9 million in the period. Its adjusted revenue was $10.8 million.

ACRES Commercial shares have risen 49% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.32, a rise of 62% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACR at https://www.zacks.com/ap/ACR