ACRES Commercial Realty Corp. Announces Preferred Stock Dividends
ACRES Commercial Realty Corp. Declares Media Dividend Payments
In a significant announcement, ACRES Commercial Realty Corp. (NYSE: ACR) shared that its Board of Directors has declared cash dividends on its Preferred Stock. This development is reassuring for investors relying on consistent income through dividends.
Details of the Preferred Stock Dividends
The company will distribute a cash dividend for its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, amounting to $0.6988981 per share. This impressive figure represents a rate of 11.18237%, calculated as three-month Term SOFR on the dividend determination date plus a 5.927% annual spread. This floating rate period for dividends commenced earlier this summer, signaling a positive adjustment for stakeholders.
Understanding the Dividend Schedule
The dividend for the Series C Preferred Stock is set to be payable on a future date to those on record from an earlier cutoff. Such timelines showcase the company's structured approach to ensuring shareholders are well-informed and able to plan accordingly.
Furthermore, ACRES plans to issue a cash dividend of $0.4921875 per share for its 7.875% Series D Cumulative Redeemable Preferred Stock, also payable on the same future date and to the same record holders. By managing these distributions effectively, ACRES maintains a strong relationship with its investors, reinforcing their commitment to shareholder returns.
About ACRES Commercial Realty Corp.
For those unfamiliar, ACRES Commercial Realty Corp. is a real estate investment trust (REIT) centered on originating and managing commercial real estate mortgage loans, alongside making equity investments in commercial properties. Their extensive business model includes direct ownership and collaborative ventures across diverse segments of the real estate market.
Focus on Commercial Real Estate
The company operates under the management of ACRES Capital, LLC, part of ACRES Capital Corp., which specializes in providing middle market CRE lending solutions. This focus encompasses a variety of property types, including multifamily housing, student accommodations, hospitable ventures, industrial sites, and office spaces within prime U.S. markets. Their commitment to meeting the needs of these diverse sectors showcases their adaptability and strategic growth within the marketplace.
For further inquiries, potential investors or interested parties are encouraged to explore the company’s online resources for additional details about their offerings and market performance. The commitment to transparency in operations positions them as a potential partner for many looking to navigate the commercial real estate landscape.
Frequently Asked Questions
What are the declared cash dividends by ACRES Commercial Realty Corp.?
ACRES Commercial Realty Corp. has declared cash dividends of $0.6988981 per share for its Series C Preferred Stock and $0.4921875 for its Series D Preferred Stock.
When will the dividends be payable?
The dividends are scheduled to be payable at a later date to shareholders holding records prior to a specified cutoff.
What is the significance of these dividends for investors?
These dividends signify the company’s ongoing commitment to return value to its shareholders, supporting their income strategy in equity investments.
How does ACRES Commercial Realty maintain its investment strategy?
ACRES focuses on originating and managing mortgage loans while investing in commercial real estate, ensuring a well-rounded approach to its investment strategy.
Where can I find more information about ACRES Commercial Realty Corp.?
Interested parties can visit the official website of ACRES Commercial Realty Corp. for more insights and detailed information about their operations and market activities.
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