Quick Search
Top Banner

Session.supporter not defined

quantumonline home Income Tables Income Lists Stock Lists Special Lists Investment Services Investment Information quantumonline home

ACRES Commercial Realty Corp., 7.875% Series D Cumulative Preferred Stock
Ticker Symbol: ACR-D     CUSIP: 00489Q300     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  ACRES Commercial Realty Corp., 7.875% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 05/21/2026 at $25 per share plus accrued and unpaid dividends, and with no stated maturity.

Cumulative distributions of 7.875% per annum ($1.96875 per annum or $0.4921875 per quarter) will be paid quarterly on 1/30, 4/30, 7/30 & 10/30 to holders of record that will be the first day of the calendar month in which the payment date falls or the record date fixed by the board, not more than 90 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date).

Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders.

Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details).

In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Cpn Rate
Ann Amt
Call Date
Matur Date
Distribution Dates 15%
Tax Rate
1/30, 4/30, 7/30 & 10/30
Click for MW ExDiv Date
Click for Yahoo ExDiv Date

Go to Parent Company's Record (ACR)

Notes:  The 7.875% Series D preferred shares were issued on 05/14/2021 and started trading temporarily on the Other OTC market 05/14/2021 under the ticker symbol ACRDP until they start trading on the NYSE. The shares are expected to start trading on the NYSE within 30 days of their issue date under their permanent ticker symbol of ACR-D. For information on securities trading on the Other OTC, see our discussion on this subject on our What Income Investors Should Know page which can be found on our Information menu at the top of any page.

IPO - 5/14/2021 - 2.40 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: ACRDP    Changed: 6/01/2021
Market Value $60.0 Million

Company's Online Information Links
HOME PAGE:     https://www.acresreit.com/home
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Email Address IR@acresreit.com
Email Contact Form on Website Go to Email Form

Address and Phone Numbers
Address:   865 Merrick Avenue, Suite 200 S, Westbury NY 11590
Main Phone Number 516-535-0015
Fax Number Not Available
Investor Contact (CFO)   David Bryant 516-862-2385
CEO - Mark Fogel CFO - David J. Bryant

Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.

investment Links contact quantumonline guestbook
quantumonline supporters about quantumonline using quantumonline

Copyright © 1997 - 2023 QuantumOnline.com. All rights reserved.
Latest Update: 8/7/2023