Q3 2023 Earnings Summary
Reported on Jan 7, 2025 (After Market Close)
Pre-Earnings Price$7.75Last close (Nov 2, 2023)
Post-Earnings Price$7.80Open (Nov 3, 2023)
Price Change
$0.05(+0.58%)
- ACR achieved a 14% return on equity (ROE) in the current quarter and is targeting mid-teens ROE, indicating strong performance and effective management.
- The company plans to monetize existing properties acquired to utilize net operating losses (NOLs), which will increase book value per share and benefit shareholders.
- ACR is considering issuing a new collateralized loan obligation (CLO) potentially by the end of 2024, leveraging improving market conditions to enhance returns while maintaining ROE neutrality.
- ACR is not currently paying cash dividends, and timing for resuming dividends is uncertain, which may concern income-focused investors.
- The company's plan to issue a new CLO is not expected until the end of 2024, potentially delaying efficient financing and impacting returns.
- ACR is not pursuing new acquisitions in the distressed commercial real estate market, possibly missing opportunities to acquire assets at attractive prices.