UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — ACRES Commercial Realty Corp. (ACR) on Wednesday reported second-quarter profit of $4.6 million.
The Uniondale, New York-based company said it had net loss of 10 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 4 cents per share.
The commercial real estate investment trust posted revenue of $21.9 million in the period. Its adjusted revenue was $8.6 million.
ACRES Commercial shares have increased 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.11, an increase of 32% in the last 12 months.
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