UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — ACRES Commercial Realty Corp. (ACR) on Wednesday reported fourth-quarter earnings of $6.3 million.
On a per-share basis, the Uniondale, New York-based company said it had net loss of 43 cents. Losses, adjusted for non-recurring gains, came to 48 cents per share.
The commercial real estate investment trust posted revenue of $20 million in the period. Its adjusted revenue was $10.7 million.
For the year, the company reported profit of $28 million, or 3 cents per share. Revenue was reported as $33.2 million.
ACRES Commercial shares have declined 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.98, a decrease of slightly more than 7% in the last 12 months.
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