ACR on NYSE
ACRES Commercial Realty Corp.
American real estate investment trust based in New York, listed on NYSE (ACR)2
In its 2026 annual report the company says: “We are a Maryland corporation, incorporated in 2005, and a real estate finance company that is organized and conducts our operations to qualify as a real estate investment trust for federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986, as amended, or the Code.”5
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Last updated Oct 21, 2026.
Overview
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- TickerACR on NYSE2
- IndustryReal Estate Investment Trusts2
- HeadquartersNew York, United States2
- Incorporated inMD3
- Business address390 Rxr Plaza, Uniondale, Ny 115563
- Filer categoryAccelerated filer, Smaller reporting company3
- Legal formCORPORATION2
- LEI549300RUJWPCMY4JFR462
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O THE CORPORATION TRUST INCORPORATED, 21093-2264 Lutherville Timonium, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D104366572
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We are a Maryland corporation, incorporated in 2005, and a real estate finance company that is organized and conducts our operations to qualify as a real estate investment trust (“REIT”) for federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986, as amended, or the Code. On February 16, 2021, we amended our certificate of incorporation to change our name to ACRES Commercial Realty Corp. from Exantas Capital Corp. Our investment strategy is primarily focused on originating, holding and managing commercial real estate (“CRE”) mortgage loans and equity investments in commercial real estate property through direct ownership and joint ventures. We are externally managed by ACRES Capital, LLC (our “Manager”) a subsidiary of ACRES Capital Corp. (collectively “ACRES”), a private commercial real estate lender exclusively dedicated to nationwide middle market CRE lendi…5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs65¢$51.9M
- Income tax0¢$83.0K
- Profit35¢$28.0M
Where each dollar of operating cash went, fiscal 2025
- Share buybacks100¢$22.3M
Out of $4.1M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| CRE loans | $118.1M | $154.9M | $184.3M |
| Other | $1.0M | $2.4M | $3.1M |
| Total interest income | $119.1M | $157.3M | $187.5M |
| Interest expense | $85.9M | $116.1M | $130.8M |
| Net interest income | $33.2M | $41.2M | $56.7M |
| Real estate income | $46.6M | $42.2M | $34.3M |
| Other revenue | $133.0K | $148.0K | $145.0K |
| Total revenues | $79.9M | $83.5M | $91.1M |
| General and administrative | $11.3M | $10.7M | $10.5M |
| Real estate expenses | $51.3M | $46.9M | $38.9M |
| Management fees - related party | $6.4M | $6.5M | $7.5M |
| Equity compensation - related party | $2.1M | $3.0M | $2.6M |
| Corporate depreciation and amortization | $78.0K | $57.0K | $91.0K |
| (Reversal of) provision for credit losses, net | -$7.7M | $4.8M | $10.9M |
| Total operating expenses | $63.5M | $71.9M | $70.5M |
| Net interest and other revenues less operating expenses | $16.4M | $11.6M | $20.7M |
| Equity in losses of unconsolidated subsidiaries | -$1.7M | -$912.0K | $0 |
| Gain on conversion of real estate | $0 | $8.6M | $0 |
| Gain on sale of investment in real estate | $11.7M | $7.5M | $745.0K |
| Other income | $1.5M | $2.0M | $527.0K |
| Total other income | $11.5M | $17.2M | $1.3M |
| INCOME BEFORE TAXES | $27.9M | $28.8M | $21.9M |
| Income tax benefit (expense) | $83.0K | -$126.0K | -$97.0K |
| NET INCOME | $28.0M | $28.7M | $21.8M |
| Net income allocated to preferred shares | -$21.1M | -$20.4M | -$19.4M |
| Carrying value in excess of consideration paid for preferred shares | $0 | $242.0K | $0 |
| Net (income) loss allocable to non-controlling interests, net of taxes | -$6.7M | $572.0K | $542.0K |
| Net income allocable to common shares | $239.0K | $9.1M | $3.0M |
| NET INCOME PER COMMON SHARE - BASIC | $0.03 | $1.19 | $0.35 |
| NET INCOME PER COMMON SHARE - DILUTED | $0.03 | $1.15 | $0.35 |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC | 7.1M shares | 7.7M shares | 8.4M shares |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED | 7.4M shares | 7.9M shares | 8.6M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $83.8M | $56.7M | ||
| CRE loans | $1.8B | $1.5B | ||
| Less: allowance for credit losses | -$20.4M | -$32.8M | -$28.8M | |
| CRE loans, net | $1.8B | $1.5B | ||
| Loan receivable - due from Manager | $10.4M | $10.7M | ||
| Loan held for sale | $0 | $11.1M | ||
| Investments in unconsolidated entities | $29.2M | $21.9M | ||
| Properties held for sale | $90.8M | $201.1M | ||
| Investments in real estate | $76.4M | $76.6M | ||
| Right of use assets | $19.5M | $19.9M | ||
| Intangible assets | $6.2M | $7.0M | ||
| Other assets | $6.6M | $6.4M | ||
| Total assets | $2.2B | $1.9B | ||
| Accounts payable and other liabilities | $7.5M | $11.8M | ||
| Management fee payable - related party | $0 | $540.0K | ||
| Lease liabilities | $45.9M | $45.3M | ||
| Distributions payable | $3.5M | $3.6M | ||
| Accrued tax liability | $8.0K | $27.0K | ||
| Liabilities held for sale | $3.1M | $3.2M | ||
| Common stock, par value $0.001: 41,666,666 shares authorized; 6887451 and 7,634,004 shares issued and outstanding (including 328,586 and 574,538 unvested restricted shares) | $7.0K | $8.0K | ||
| Additional paid-in capital | $1.1B | $1.2B | ||
| Accumulated other comprehensive loss | -$1.6M | -$3.2M | ||
| Distributions in excess of earnings | -$720.0M | -$720.3M | ||
| Total stockholders equity | $420.8M | $439.1M | ||
| Non-controlling interests | $129.8M | $10.5M | ||
| Total equity | $550.6M | $449.7M | $446.2M | $441.3M |
| TOTAL LIABILITIES AND EQUITY | $2.2B | $1.9B | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 41.7M shares | 41.7M shares | ||
| Common stock, shares issued (in shares) | 6.9M shares | 7.6M shares | ||
| Common stock, shares outstanding (in shares) | 6.9M shares | 7.6M shares | ||
| Common stock, shares issued, non-vested restricted shares (in shares) | 328.6K shares | 574.5K shares | ||
| Restricted cash | $2.2M | $890.0K | ||
| Accrued interest receivable | $27.3M | $14.7M | ||
| Accrued interest payable | $6.8M | $7.0M | ||
| Borrowings | $1.5B | $1.4B | ||
| Total liabilities of consolidated VIEs | $1.6B | $1.4B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $83.8M | $56.7M | ||
| CRE loans | $1.8B | $1.5B | ||
| Less: allowance for credit losses | -$20.4M | -$32.8M | -$28.8M | |
| CRE loans, net | $1.8B | $1.5B | ||
| Loan receivable - due from Manager | $10.4M | $10.7M | ||
| Loan held for sale | $0 | $11.1M | ||
| Investments in unconsolidated entities | $29.2M | $21.9M | ||
| Properties held for sale | $90.8M | $201.1M | ||
| Investments in real estate | $76.4M | $76.6M | ||
| Right of use assets | $19.5M | $19.9M | ||
| Intangible assets | $6.2M | $7.0M | ||
| Other assets | $6.6M | $6.4M | ||
| Total assets | $2.2B | $1.9B | ||
| Accounts payable and other liabilities | $7.5M | $11.8M | ||
| Management fee payable - related party | $0 | $540.0K | ||
| Lease liabilities | $45.9M | $45.3M | ||
| Distributions payable | $3.5M | $3.6M | ||
| Accrued tax liability | $8.0K | $27.0K | ||
| Liabilities held for sale | $3.1M | $3.2M | ||
| Common stock, par value $0.001: 41,666,666 shares authorized; 6887451 and 7,634,004 shares issued and outstanding (including 328,586 and 574,538 unvested restricted shares) | $7.0K | $8.0K | ||
| Additional paid-in capital | $1.1B | $1.2B | ||
| Accumulated other comprehensive loss | -$1.6M | -$3.2M | ||
| Distributions in excess of earnings | -$720.0M | -$720.3M | ||
| Total stockholders equity | $420.8M | $439.1M | ||
| Non-controlling interests | $129.8M | $10.5M | ||
| Total equity | $550.6M | $449.7M | $446.2M | $441.3M |
| TOTAL LIABILITIES AND EQUITY | $2.2B | $1.9B | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 41.7M shares | 41.7M shares | ||
| Common stock, shares issued (in shares) | 6.9M shares | 7.6M shares | ||
| Common stock, shares outstanding (in shares) | 6.9M shares | 7.6M shares | ||
| Common stock, shares issued, non-vested restricted shares (in shares) | 328.6K shares | 574.5K shares | ||
| Restricted cash | $2.2M | $890.0K | ||
| Accrued interest receivable | $27.3M | $14.7M | ||
| Accrued interest payable | $6.8M | $7.0M | ||
| Borrowings | $1.5B | $1.4B | ||
| Total liabilities of consolidated VIEs | $1.6B | $1.4B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $28.0M | $28.7M | $21.8M |
| (Reversal of) provision for credit losses, net | -$7.7M | $4.8M | $10.9M |
| Depreciation, amortization and accretion | $10.3M | $9.7M | $5.2M |
| Amortization of stock-based compensation | $2.1M | $3.0M | $2.6M |
| Gain on conversion of real estate | $0 | -$8.6M | $0 |
| Gain on sale of investment in real estate | -$11.7M | -$7.5M | -$745.0K |
| Equity in losses of unconsolidated subsidiaries | $1.7M | $698.0K | $0 |
| (Increase) decrease in accrued interest receivable, net of purchased interest | -$13.0M | -$2.9M | $187.0K |
| (Decrease) increase in management fee payable | -$540.0K | -$26.0K | $284.0K |
| Increase (decrease) in accounts payable and other liabilities | -$197.0K | -$3.5M | $3.7M |
| Decrease in lease liabilities | -$2.3M | -$2.1M | -$151.0K |
| (Decrease) increase in accrued interest payable | -$173.0K | -$1.4M | $885.0K |
| (Increase) decrease in other assets | -$2.4M | -$1.4M | $978.0K |
| Net cash provided by operating activities | $4.1M | $19.4M | $45.6M |
| Principal fundings of CRE loans | -$753.2M | -$53.2M | -$108.3M |
| Principal payments received on CRE loans | $341.4M | $377.6M | $216.0M |
| Investments in real estate | -$2.6M | -$44.7M | -$38.2M |
| Proceeds from sale of investments in real estate | $121.6M | $20.0M | $14.3M |
| Investments in unconsolidated entities | -$9.1M | -$884.0K | $0 |
| Purchases of furniture and fixtures | -$165.0K | -$8.0K | $0 |
| Proceeds from sale of CRE loans | $77.5M | $0 | $77.2M |
| Principal payments received on loan - due from Manager | $300.0K | $300.0K | $300.0K |
| Net cash (used in) provided by investing activities | -$224.2M | $299.1M | $161.3M |
| Offering costs | $0 | -$82.0K | $0 |
| Repurchase of common stock | -$22.3M | -$7.9M | -$7.4M |
| Repurchase of preferred stock | $0 | -$2.2M | $0 |
| Senior secured financing facility | $0 | $0 | $13.5M |
| CRE - term warehouse financing facilities | $551.8M | $19.2M | $11.8M |
| Mortgages payable | $1.0M | $36.3M | $25.1M |
| CRE - term reinvestment financing facility | $913.8M | $0 | $0 |
| Securitizations | -$865.1M | -$345.0M | -$32.2M |
| Senior secured financing facility | $0 | -$1.4M | -$40.6M |
| CRE - term warehouse financing facilities | -$174.9M | -$31.7M | -$171.7M |
| Mortgages payable | -$60.9M | $0 | $0 |
| CRE - term reinvestment financing facility | -$182.7M | $0 | |
| Payment of debt issuance costs | -$4.0M | -$640.0K | -$4.0M |
| Distributions to non-controlling interests | -$11.9M | ||
| Proceeds received from non-controlling interests | $125.0M | $687.0K | $5.1M |
| Distributions paid on preferred stock | -$21.2M | -$20.0M | -$19.4M |
| Net cash procided by (used in) financing activities | $248.5M | -$352.7M | -$219.8M |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | $28.4M | -$34.3M | -$12.9M |
No quarter-by-quarter statement was filed.
Corporate structure
ACRES Commercial Realty Corp. sits at the top of its group. 32 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of ACRES Commercial Realty Corp.
- ACRES Share Holdings, LLC Filed SCHEDULE 13D/A on ACRES Commercial Realty Corp., latest Aug 7, 2026 (6 filings since May 11, 2022)
- Andrew Fentress Filed SCHEDULE 13D on ACRES Commercial Realty Corp., latest Aug 7, 2026
- Mark S. Fogel Filed SCHEDULE 13D on ACRES Commercial Realty Corp., latest Aug 7, 2026
- Martin E. Reasoner Filed SCHEDULE 13D on ACRES Commercial Realty Corp., latest Aug 7, 2026
- BlackRock Filed SCHEDULE 13G/A on ACRES Commercial Realty Corp., latest Jul 27, 2026 (3 filings since Oct 17, 2025)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on ACRES Commercial Realty Corp., latest Mar 26, 2026 (2 filings since Jul 29, 2025)
- OCM XAN Holdings PT, LLC Filed SCHEDULE 13G/A on ACRES Commercial Realty Corp., latest Jan 26, 2026 (2 filings since Aug 12, 2025)
- Eagle Point Credit Management LLC Filed SCHEDULE 13G/A on ACRES Commercial Realty Corp., latest May 16, 2025 (5 filings since Feb 14, 2022)
- PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Filed SC 13G/A on ACRES Commercial Realty Corp., latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- Brookfield OCM Holdings, LLC Filed SC 13G/A on ACRES Commercial Realty Corp., latest Feb 14, 2023
- Morgan Stanley Filed SC 13G/A on ACRES Commercial Realty Corp., latest Sep 12, 2022 (2 filings since Feb 9, 2022)
- BRIGADE CAPITAL MANAGEMENT, LP Filed SC 13G/A on ACRES Commercial Realty Corp., latest Feb 14, 2022
- ACRES Commercial Realty Corp. New York, New York, United States
- 1926 RHT ACRES Member, LLC (F/K/A 1926 RHT Holdings, LLC) Subsidiary · Delaware, United States
- 209 West Jackson Holdings, LLC Subsidiary · Delaware, United States
- 2501-2901 Renaissance JV, LLC Subsidiary · Delaware, United States
- 2901 Renaissance Holdings 1 LLC Subsidiary · Delaware, United States
- 2901 Renaissance Holdings 2 LLC Subsidiary · Delaware, United States
- 2901 Renaissance, LLC Subsidiary · Delaware, United States
- 65 E. Wacker JV Member, LLC Subsidiary · Delaware, United States
- 7720 McCallum ACRES Member, LLC Subsidiary · Delaware, United States
- ACRES 2025 FL-3 LLC Subsidiary · Delaware, United States
- ACRES Commercial Realty 2026-FL4 Holder, LLC Subsidiary · Delaware, United States
- ACRES Commercial Realty 2026-FL4 Issuer, LLC Subsidiary · Delaware, United States
- ACRES FSU, LLC Subsidiary · Delaware, United States
- ACRES Real Estate SPE 10, LLC Subsidiary · Delaware, United States
- ACRES Real Estate TRS 9 LLC Subsidiary · Delaware, United States
- ACRES REALTY FUNDING, INC. Subsidiary · Philadelphia, Pennsylvania, United States
- ACRES Realty Funding, Inc. (F/K/A RCC Real Estate, Inc.) Subsidiary · Delaware, United States
- ACRES Renaissance Holdings, LLC Subsidiary · Delaware, United States
- ACRES SPE 2025-1, LLC Subsidiary · Delaware, United States
- Appleton Hotel Holdings, LLC Subsidiary · Delaware, United States
- Appleton Hotel Leasing, LLC (“TRS”) Subsidiary · Delaware, United States
- Exantas Phili Holdings, LLC (F/K/A Exantas HGI Holdings, LLC) Subsidiary · Delaware, United States
- Exantas Real Estate TRS, Inc. Subsidiary · Delaware, United States
- Kimbrough BADA, LLC Subsidiary · Delaware, United States
- RCC Prospect Holdings, LLC Subsidiary · Delaware, United States
- RCC Real Estate Acquisitions SPE, LLC Subsidiary · Delaware, United States
- and 6 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What ACRES Commercial Realty Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Operating-lease assets (leased space) | $19.5M7 Dec 31, 2025 | $19.9M7 Dec 31, 2024 | −1.8% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $76.4M7 Dec 31, 2025 | $76.6M7 Dec 31, 2024 | −0.3% |
| Real estate properties | 67 Dec 31, 2025 | 711 Dec 31, 2024 | −14.3% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $83.8M7 Dec 31, 2025 | $56.7M7 Dec 31, 2024 | +47.7% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $6.2M7 Dec 31, 2025 | $7.0M7 Dec 31, 2024 | −11.0% |
| Finite-lived intangibles, net | $4.6M7 Dec 31, 2025 | $3.3M15 Dec 31, 2020 | +39.1% |
Properties, in its own words
We maintain offices in Uniondale, New York; New York City, New York and Philadelphia, Pennsylvania. Our principal office is located in leased space at 390 RXR Plaza, Uniondale, New York 11556. We do not own any material principal real property, other than certain investments in real estate properties.
Item 2 of the 10-K filed Mar 10, 2026.5
Leadership
Who has led ACRES Commercial Realty Corp., and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerMark S. Fogel Aug 6, 2020 to Aug 20, 202016
- Chief executive officerRobert C. Lieber Sep 16, 2016 to Aug 4, 202017
- Chief executive officerJonathan Cohen Jan 25, 2006 to Feb 8, 201618
- ChairSteven J. Kessler Dec 26, 2012 to Dec 26, 201219
- PresidentMark S. Fogel Aug 6, 2020 to now16
- PresidentMatthew J. Stern May 10, 2017 to Aug 4, 202020
- PresidentRobert C. Lieber Sep 16, 2016 to Jan 22, 201817
- PresidentJonathan Cohen Jan 25, 2006 to Feb 8, 201618
- Chief financial officerEldron C. Blackwell Aug 7, 2026 to now21
- Chief financial officerThomas C. Elliott Jan 25, 2006 to Jul 24, 200622
- Chief financial officerDavid J. Bryant Jun 30, 2006 to Aug 11, 202223
- Chief operating officerKyle K. Brengel Aug 7, 2026 to now24
Board members and other officers (27)
- COB & MD Capital MarketsAndrew Fentress Aug 7, 2026 to now25
- Managing Director-OriginationsMartin E. Reasoner Aug 7, 2026 to now26
- MD - Finance and AccountingRichard A. Persaud Aug 7, 2026 to now27
- VP & Chief Accounting OfficerLinda M. Kilpatrick Jan 2, 2024 to now28
- Executive Vice PresidentThomas C. Elliott Feb 10, 2017 to Mar 13, 202029
- EVPPaul A. Hughson Sep 11, 2017 to Aug 4, 202030
- VP & CAOEldron C. Blackwell Mar 31, 2014 to May 17, 202231
- SVP - CDO StructuringJeffrey D. Blomstrom Jan 25, 2006 to Jan 22, 201832
- SVP - FinanceSteven J. Kessler Jan 25, 2006 to Jan 28, 200933
- Board memberDavid J. Bryant May 8, 2024 to now34
- Board memberDawanna Williams Jun 14, 2021 to now35
- Board memberThomas C. Elliott Aug 4, 2020 to Jun 9, 202136
- Board memberAndrew Fentress Aug 6, 2020 to now37
- Board memberMark S. Fogel Aug 6, 2020 to Aug 20, 202016
- Board memberAndrew L. Farkas Sep 16, 2016 to Aug 4, 202038
- Board memberRichard Fore Mar 14, 2013 to Mar 14, 201739
- Board memberStephanie H. Wiggins Jun 10, 2013 to Jul 23, 201940
- Board memberSteven J. Kessler Jan 26, 2010 to now41
- Board memberGary Ickowicz Feb 2, 2007 to now42
- Board memberEdward E. Cohen Jan 25, 2006 to Dec 26, 201243
- Board memberJonathan Cohen Jan 25, 2006 to Feb 8, 201618
- Board memberMurray S. Levin Jan 25, 2006 to now44
- Board memberP. Sherrill Neff Jan 25, 2006 to now45
- Board memberWalter T. Beach Jan 25, 2006 to Mar 11, 201946
- Board memberWilliam B. Hart Jan 25, 2006 to May 8, 202447
- General counselJaclyn Jesberger Aug 6, 2020 to now48
- General counselMichele R. Weisbaum Sep 16, 2016 to Aug 4, 202049
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- 1926 RHT ACRES Member, LLC (F/K/A 1926 RHT Holdings, LLC) Delaware4
- 209 West Jackson Holdings, LLC Delaware4
- 2501-2901 Renaissance JV, LLC Delaware4
- 2901 Renaissance Holdings 1 LLC Delaware4
- 2901 Renaissance Holdings 2 LLC Delaware4
- 2901 Renaissance, LLC Delaware4
- 65 E. Wacker JV Member, LLC Delaware4
- 7720 McCallum ACRES Member, LLC Delaware4
- ACRES 2025 FL-3 LLC Delaware4
- ACRES Commercial Realty 2026-FL4 Holder, LLC Delaware4
- ACRES Commercial Realty 2026-FL4 Issuer, LLC Delaware4
- ACRES FSU, LLC Delaware4
- ACRES Real Estate SPE 10, LLC Delaware4
- ACRES Real Estate TRS 9 LLC Delaware4
- ACRES Realty Funding, Inc. (F/K/A RCC Real Estate, Inc.) Delaware4
- ACRES Renaissance Holdings, LLC Delaware4
- ACRES SPE 2025-1, LLC Delaware4
- Appleton Hotel Holdings, LLC Delaware4
- Appleton Hotel Leasing, LLC (“TRS”) Delaware4
- Exantas Phili Holdings, LLC (F/K/A Exantas HGI Holdings, LLC) Delaware4
- Exantas Real Estate TRS, Inc. Delaware4
- Kimbrough BADA, LLC Delaware4
- RCC Prospect Holdings, LLC Delaware4
- RCC Real Estate Acquisitions SPE, LLC Delaware4
All 30 listed subsidiaries
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Sep 4, 20268-K Entered a material agreement; Ended a material agreement50
- Aug 24, 20268-K Financial statements and exhibits51
- Aug 12, 20268-K Entered a material agreement52
- Aug 6, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale53
- Aug 4, 20268-K Other events54
- Jul 29, 20268-K Results of operations; Regulation FD disclosure55
- Jul 24, 20268-K Other events56
- Jun 25, 20268-K Executive or director change; Shareholder vote57
- Apr 30, 20268-K Entered a material agreement; Unregistered sale of shares; Executive or director change58
- Apr 30, 20268-K Results of operations; Regulation FD disclosure59
- Apr 30, 20268-K Change of auditor60
- Mar 4, 20268-K Results of operations; Regulation FD disclosure61
- Aug 6, 2020New chief executive Mark S. Fogel becomes CEO16
- Sep 16, 2016New chief executive Robert C. Lieber becomes CEO17
- Jan 25, 2006New chief executive Jonathan Cohen becomes CEO18
Calendar
Coming up
- Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.96 a share, on Oct 29, 2025.62
When it reported results
- Jul 29, 2026Reported quarterly or annual results55
- Apr 30, 2026Reported quarterly or annual results59
- Mar 4, 2026Reported quarterly or annual results61
- Oct 29, 2025Reported quarterly or annual results63
- Jul 30, 2025Reported quarterly or annual results64
- Apr 30, 2025Reported quarterly or annual results65
- Mar 5, 2025Reported quarterly or annual results66
- Oct 30, 2024Reported quarterly or annual results67
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
338 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 48 major events, 202 insider forms, 29 large holders, 38 other. The latest 20:
- Sep 14, 20264 EDGAR
- Sep 10, 2026144 EDGAR
- Sep 4, 20268-K EDGAR
- Sep 4, 2026424B5 EDGAR
- Sep 4, 2026424B5 EDGAR
- Aug 24, 20268-K/A EDGAR
- Aug 12, 20268-K EDGAR
- Aug 11, 2026424B5 EDGAR
- Aug 11, 2026FWP EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 2026SCHEDULE 13D/A EDGAR
- Aug 7, 2026SCHEDULE 13D EDGAR
- Aug 7, 2026SCHEDULE 13D EDGAR
- Aug 7, 2026SCHEDULE 13D EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
- Aug 7, 20264 EDGAR
The 338 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
313 open-market trades by officers, directors and large owners since October 2021: 96 buys and 217 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 10, 2026 | BRYANT DAVID JDirector | Sale | 1,440 | $13.89 | $20.0K | Form 4 |
| Aug 4, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 98 | $21.80 | $2.1K | Form 4 |
| Jul 31, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 84 | $21.80 | $1.8K | Form 4 |
| Jul 30, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 908 | $21.80 | $19.8K | Form 4 |
| Jul 29, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 2,212 | $21.80 | $48.2K | Form 4 |
| Jul 28, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 206 | $21.79 | $4.5K | Form 4 |
| Jul 27, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 1,389 | $21.78 | $30.3K | Form 4 |
| Jul 24, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 1,267 | $21.78 | $27.6K | Form 4 |
| Jul 23, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 5,234 | $21.79 | $114.0K | Form 4 |
| Jul 22, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 2,732 | $21.78 | $59.5K | Form 4 |
| Jul 16, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 389 | $21.82 | $8.5K | Form 4 |
| Jul 15, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 9 | $21.85 | $197 | Form 4 |
| Jul 14, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 1,113 | $21.87 | $24.3K | Form 4 |
| Jun 24, 2026 | Eagle Point DIF GP I LLC10% owner | Sale | 2,076 | $22.50 | $46.7K | Form 4 |
| Jun 15, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 5,981 | $24.37 | $145.8K | Form 4 |
| Jun 12, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 849 | $25.47 | $21.6K | Form 4 |
| Jun 11, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 215 | $25.47 | $5.5K | Form 4 |
| Jun 10, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 1,527 | $22.56 | $34.5K | Form 4 |
| Jun 3, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 422 | $22.55 | $9.5K | Form 4 |
| Jun 1, 2026 | Eagle Point Credit Management LLC10% owner | Sale | 5,806 | $25.41 | $147.5K | Form 4 |
All 313 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ACRES Share Holdings, LLCSCHEDULE 13D/A, 6 filings May 11, 2022 to Aug 7, 202668
- Andrew FentressSCHEDULE 13D, 1 filing Aug 7, 202669
- Mark S. FogelSCHEDULE 13D, 1 filing Aug 7, 202670
- Martin E. ReasonerSCHEDULE 13D, 1 filing Aug 7, 202671
- BlackRockSCHEDULE 13G/A, 3 filings Oct 17, 2025 to Jul 27, 202672
- VANGUARD GROUP INCSCHEDULE 13G/A, 2 filings Jul 29, 2025 to Mar 26, 202673
- OCM XAN Holdings PT, LLCSCHEDULE 13G/A, 2 filings Aug 12, 2025 to Jan 26, 202674
- Eagle Point Credit Management LLCSCHEDULE 13G/A, 5 filings Feb 14, 2022 to May 16, 202575
- PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.SC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202476
- Brookfield OCM Holdings, LLCSC 13G/A, 1 filing Feb 14, 202377
- Morgan StanleySC 13G/A, 2 filings Feb 9, 2022 to Sep 12, 202278
- BRIGADE CAPITAL MANAGEMENT, LPSC 13G/A, 1 filing Feb 14, 202279
- OAKTREE CAPITAL MANAGEMENT LPSC 13G/A, 1 filing Feb 14, 202280
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jaclyn A. Jesberger | $414.0K | $571.8K81 | |
| 2025 | Eldron C. Blackwell | $260.0K | $399.0K81 | |
| 2025 | Linda Kilpatrick | $200.0K | $289.6K81 | |
| 2025 | Mark S. Fogel | $181 | ||
| 2024 | Senior Vice PresidentChief | $437.5K | $604.0K81 | |
| 2024 | Senior VicePresident and | $260.0K | $368.8K81 | |
| 2024 | Vice President and | $200.0K | $268.2K81 | |
| 2023 | Legal Officer and Secretary | $300.0K | $414.0K81 | |
| 2023 | Chief Financial Officer | $212.8K | $315.4K81 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 65. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How ACRES Commercial Realty Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARACRES Commercial Realty Corp.1
- CIK0001332551
- Employer ID (EIN)20-22871345
- Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inMaryland5
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address390 Rxr Plaza, Uniondale, NY 115561
- Phone516-535-00151
- Shares outstanding7,131,101 as of Aug 3, 202614
- Public float$105.6M as of Jun 30, 20255
- AuditorErnst & Young LLP, Philadelphia, Pennsylvania PCAOB ID 42; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJul 11, 20051
- Filings1,317 in all: 4 (567), 8-K (242), 10-Q (62), SC 13G/A (53), 3 (37), 424B5 (36), CORRESP (36), UPLOAD (32)1
All 48 form types
10-K (21), DEF 14A (21), SC 13G (21), EFFECT (19), 4/A (17), DEFA14A (17), S-3 (14), S-11/A (12), ABS-15G (11), 424B3 (10), FWP (10), 5 (6), S-8 (6), 8-A12B (5), SCHEDULE 13G/A (5), ARS (4), CERTNYS (4), POS AM (4), S-3/A (4), 10-K/A (3), 8-K/A (3), S-11 (3), SCHEDULE 13D (3), SCHEDULE 13D/A (3), SCHEDULE 13G (3), 144 (2), 25-NSE (2), 305B2 (2), 424B2 (2), 424B4 (2), 424B7 (2), SC 13D (2), SC 13D/A (2), 3/A (1), ABS-15G/A (1), CERT (1), NT 10-Q (1), POSASR (1), PRE 14A (1), S-3ASR (1)
- Latest filingsAnnual report (10-K) Mar 10, 2026
Quarterly report (10-Q) Aug 4, 2026
Proxy statement (DEF 14A) May 11, 2026
Latest 8-K (8-K) Sep 4, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.001 par value | ACR | New York Stock Exchange |
| 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock | ACRPrC | New York Stock Exchange |
| 7.875% Series D Cumulative Redeemable Preferred Stock | ACRPrD | New York Stock Exchange |
From the cover page of the 10-K filed Mar 10, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks ACRES Commercial Realty Corp. names in Item 1A of its 10-K filed Mar 10, 2026: 71 risks under these headings, as written.5
- Risks Related to Impact of Current Economic Conditions
- If current economic and market conditions were to deteriorate, our ability to obtain the capital and financing necessary for growth may be limited, which could limit our profitability, ability to make distributions and the market price of our common stock.
- A prolonged economic slowdown or lengthy or severe recession causing declining real estate values could impair our investments and harm our operations.
- The effects of the spread of illnesses or other public health emergencies on the global economy, the markets and our business may have an adverse impact on our financial condition, our results of operations and our liquidity and capital resources.
- Risks Related to Our Financing
- Our portfolio has been financed in material part through the use of leverage that may reduce the return on our investments and cash available for distribution.
- Our repurchase agreements, warehouse facilities and other short-term financings have credit risks that could result in losses.
- We are exposed to loss if lenders under our repurchase agreements, warehouse facilities, senior secured financing facility or other short-term financings liquidate the assets securing those facilities. Moreover, assets acquired by us pursuant to our repurchase agreements, warehouse facilities, senior secured financing facility or other short-term financings may not be suitable for refinancing through long-term arrangements and may require us to liquidate some or all of the related assets.
- We will incur losses on our repurchase transactions if the counterparty to the transactions defaults on its obligation to resell the underlying assets back to us at the end of the transaction term, or if the value of the underlying assets has declined as of the end of the term or if we default in our obligations to purchase the assets.
- We may have to repurchase assets that we have sold in connection with CRE debt securitizations and other securitizations.
- Financing our REIT qualifying assets with repurchase agreements and warehouse facilities could adversely affect our ability to qualify as a REIT.
- Historically, we have financed most of our investments through CRE debt securitizations and have retained the equity. CRE debt securitization equity receives distributions from the CRE debt securitization only if the CRE debt securitization generates enough income to first pay the holders of its debt securities and its expenses.
The other 61 risks
- If our CRE debt securitization financings fail to meet their performance tests, including over-collateralization and interest coverage requirements, our net income and cash flow from these CRE debt securitizations will be eliminated.
- If we issue debt securities, the terms may restrict our ability to make cash distributions, require us to obtain approval to sell our assets or otherwise restrict our operations in ways that could make it difficult to execute our investment strategy and achieve our investment objectives.
- Depending upon market conditions, we intend to seek financing through CRE debt securitizations, which would expose us to risks relating to the accumulation of assets for use in the CRE debt securitizations.
- We may be subject to losses arising from current and future guarantees of debt and contingent obligations of our subsidiaries or joint venture partners.
- The debt facilities that we use to finance our investments may require us to provide additional collateral.
- Risks Related to Our Operations
- We may change our investment strategy without stockholder consent, which may result in riskier investments than those currently targeted.
- We believe earnings available for distribution ("EAD"), a non-GAAP financial measure, is an appropriate measure to evaluate our performance and ability to pay dividends; however, in certain instances EAD may not be reflective of actual economic results.
- If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud.
- Our due diligence may not reveal all of an investment’s weaknesses.
- Our business is highly dependent on communications and information systems, and systems failures or cybersecurity incidents could significantly disrupt our business, which may, in turn, negatively affect the market price of our common stock and our ability to operate our business.
- Risks Related to Our Investments
- Declines in the market values of our investments may reduce periodic reported results, credit availability and our ability to make distributions.
- Increases in interest rates and other factors could reduce the value of our investments, result in reduced earnings or losses and reduce our ability to pay distributions.
- Heightened consumer demand, combined with constrained labor markets and supply chain imbalances, have created inflationary pressure within the U.S. economy. While our ownership of commercial real estate and floating rate loans can act as effective hedges against inflation, increased costs could compromise property performance and thus mortgage loan performance.
- The transition away from reference rates and the use of alternative replacement reference rates may adversely affect the value of our loans, investments and borrowings and could affect our results of operations.
- Investing in mezzanine debt, preferred equity, mezzanine or other subordinated tranches of CMBS involves greater risks of loss than senior secured debt investments.
- Our investments in preferred equity involve a greater risk of loss than traditional first mortgage debt investments we make.
- We record some of our portfolio investments, including those classified as assets held for sale, at fair value as estimated by our management and, as a result, there will be uncertainty as to the value of these investments.
- We may face competition for suitable investments.
- We may not have control over certain of our CRE loans and CRE investments.
- Many of our investments may be illiquid, which may result in our realizing less than their recorded value should we need to sell such investments quickly.
- Our investments in CRE loans, mezzanine loans and CRE equity investments are subject to the risks inherent in owning the real estate securing or underlying those investments that could result in losses to us.
- If our allowance for credit losses is not adequate to cover actual future loan losses, our earnings may decline.
- The CECL model may require us to increase our allowance for credit losses and therefore may have a material adverse effect on our business, financial condition and results of operations.
- Our investment portfolio may have material geographic, sector, property-type and sponsor concentrations.
- The B-notes in which we may invest may be subject to additional risks relating to the privately negotiated structure and terms of the transaction, which may result in losses to us.
- We may be exposed to environmental liabilities with respect to properties that we own or take title to in the future.
- Real estate ownership is subject to particular conditions that may have a negative impact on our results of operations.
- Real estate property investments are illiquid. We may not be able to dispose of properties when desired or on favorable terms.
- We may not have control, or control may be limited, over certain of our loans and real estate equity investments.
- Risks Related to Our Manager
- We depend on our Manager and ACRES to develop and operate our business and may not find suitable replacements if the Management Agreement terminates.
- Our Manager’s fee structure may not create proper incentives, and the incentive compensation we pay our Manager may increase the investment risk of our portfolio.
- Our Manager manages our portfolio pursuant to very broad investment guidelines and our Board does not approve each investment decision, which may result in our making riskier investments.
- Termination of the Management Agreement by us without cause is difficult and could be costly.
- Our Manager and ACRES will face conflicts of interest relating to the allocation of investment opportunities and such conflicts may not be resolved in our favor, which could limit our ability to acquire assets and, in turn, limit our ability to make distributions and reduce your overall investment return.
- Our officers and many of the investment professionals that provide services to us through our Manager are also officers or employees of ACRES and may face conflicts regarding the allocation of their time.
- We have engaged in and may again engage in transactions with entities affiliated with our Manager. Our policies and procedures may be insufficient to address any conflicts of interest that may arise.
- Our Manager’s liability is limited under the Management Agreement, and we have agreed to indemnify our Manager against certain liabilities.
- Risks Related to Our Organization and Structure
- Our charter and bylaws contain provisions that may inhibit potential acquisition bids that you and other stockholders may consider favorable, and the market price of our common stock may be lower as a result.
- There are ownership limits and restrictions on transferability and ownership in our charter.
- Our charter permits our Board to issue stock with terms that may discourage a third-party from acquiring us.
- Our charter and bylaws contain other possible anti-takeover provisions.
- Maryland takeover statutes may prevent a change in control of us, and the market price of our common stock may be lower as a result.
- Our rights and the rights of our stockholders to take action against our directors and officers are limited, which could limit your recourse in the event of actions not in your best interests.
- Our right to take action against our Manager is limited.
- We have not established a minimum distribution payment level and we cannot assure you of our ability to make distributions in the future. In the future, we may use uninvested offering proceeds or borrowed funds to make distributions.
- Loss of our exclusion from regulation under the Investment Company Act would require significant changes in our operations and could reduce the market price of our common stock and our ability to make distributions.
- Rapid changes in the values of our real estate-related investments may make it more difficult for us to maintain our qualification as a REIT or exclusion from regulation under the Investment Company Act.
- Risks Related to Our REIT Status and Certain Other Tax Items
- Complying with REIT requirements may cause us to forgo otherwise attractive opportunities.
- Our qualification as a REIT and exemption from U.S. federal income tax with respect to certain assets may depend on the accuracy of legal opinions or advice rendered or given or statements by the issuers of securities in which we invest, and the inaccuracy of any such opinions, advice or statements may adversely affect our REIT qualification and result in significant corporate level tax.
- We may realize excess inclusion income that would increase our tax liability and that of our stockholders.
- Failure to qualify as a REIT would subject us to federal income tax, which would reduce the cash available for distribution to our stockholders.
- A determination that we have not made required distributions would subject us to tax or require us to pay a deficiency dividend; payment of tax would reduce the cash available for distribution to our stockholders.
- If we make distributions in excess of our current and accumulated earnings and profits, they will be treated as a return of capital, which will reduce the adjusted basis of your stock. To the extent such distributions exceed your adjusted basis, you may recognize a capital gain upon distribution.
- Our ownership of and relationship with our TRS will be limited and a failure to comply with the limits would jeopardize our REIT qualification and may result in the application of a 100% excise tax.
- Complying with REIT requirements may limit our ability to hedge effectively.
- The tax on prohibited transactions will limit our ability to engage in transactions, including certain methods of securitizing mortgage loans that would be treated as sales for federal income tax purposes.
- Legislative, regulatory or administrative changes could adversely affect our stockholders or us.
- Dividends paid by REITs do not qualify for the reduced tax rates provided for under current law.
- We may lose our REIT qualification or be subject to a penalty tax if we modify mortgage loans or acquire distressed debt in a way that causes us to fail our REIT gross income or asset tests.
- The failure of a loan subject to a repurchase agreement, a mezzanine loan or a preferred equity investment to qualify as a real estate asset would adversely affect our ability to qualify as a REIT.
- Our qualification as a REIT could be jeopardized as a result of an interest in joint ventures.
Legal proceedings
Refer to “Part II - Item 8. Financial Statements and Supplementary Data – Note 21 - Commitments and Contingencies” for the applicable disclosures.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 19SEC EDGARSteven J. Kessler, Chair
- 20SEC EDGARMatthew J. Stern, President
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- 30SEC EDGARPaul A. Hughson, EVP
- 31SEC EDGAREldron C. Blackwell, VP & CAO
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- 33SEC EDGARSteven J. Kessler, SVP - Finance
- 34SEC EDGARDavid J. Bryant, Board member
- 35SEC EDGARDawanna Williams, Board member
- 36SEC EDGARThomas C. Elliott, Board member
- 37SEC EDGARAndrew Fentress, Board member
- 38SEC EDGARAndrew L. Farkas, Board member
- 39SEC EDGARRichard Fore, Board member
- 40SEC EDGARStephanie H. Wiggins, Board member
- 41SEC EDGARSteven J. Kessler, Board member
- 42SEC EDGARGary Ickowicz, Board member
- 43SEC EDGAREdward E. Cohen, Board member
- 44SEC EDGARMurray S. Levin, Board member
- 45SEC EDGARP. Sherrill Neff, Board member
- 46SEC EDGARWalter T. Beach, Board member
- 47SEC EDGARWilliam B. Hart, Board member
- 48SEC EDGARJaclyn Jesberger, General counsel
- 49SEC EDGARMichele R. Weisbaum, General counsel
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- 51SEC EDGARFinancial statements and exhibits
- 52SEC EDGAREntered a material agreement
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- 54SEC EDGAROther events
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- 56SEC EDGAROther events
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- 60SEC EDGARChange of auditor
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