UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — ACRES Commercial Realty Corp. (ACR) on Wednesday reported second-quarter earnings of $5.7 million.
The Uniondale, New York-based company said it had profit of 10 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 60 cents per share.
The commercial real estate investment trust posted revenue of $23.6 million in the period. Its adjusted revenue was $14.7 million.
ACRES Commercial shares have increased 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9, a climb of almost 8% in the last 12 months.
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