UNIONDALE, N.Y. (AP) — UNIONDALE, N.Y. (AP) — ACRES Commercial Realty Corp. (ACR) on Thursday reported first-quarter net income of $4.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Uniondale, New York-based company said it had net loss of 16 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 2 cents per share.
The commercial real estate investment trust posted revenue of $17.8 million in the period. Its adjusted revenue was $9.2 million.
ACRES Commercial shares have fallen 3% since the beginning of the year. The stock has climbed nearly 8% in the last 12 months.
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