UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — ACRES Commercial Realty Corp. (ACR) on Wednesday reported fourth-quarter profit of $9.5 million.
On a per-share basis, the Uniondale, New York-based company said it had profit of 52 cents. Earnings, adjusted for non-recurring gains, came to 48 cents per share.
The commercial real estate investment trust posted revenue of $21.4 million in the period. Its adjusted revenue was $8.6 million.
For the year, the company reported profit of $29.3 million, or $1.15 per share. Revenue was reported as $41.2 million.
ACRES Commercial shares have climbed 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.14, an increase of 84% in the last 12 months.
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