ACRES Commercial Realty approves $5M share repurchase program

ACRES Commercial Realty Corp. (NYSE: ACR) announced that its board of directors has authorized the repurchase of an additional $5.0 million of its outstanding common stock shares, according to a press release.

The Uniondale, N.Y.-based commercial mortgage REIT said repurchases will be conducted through open market purchases, privately negotiated transactions, block purchases, or other methods in compliance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934.

The company noted that the timing and amount of any shares repurchased will be determined by management based on its evaluation of market conditions and other factors, and that it cannot predict when or if any shares will be repurchased.

You May Also Be Interested In

• Seaport Entertainment sells Manhattan building for $8.25M
• Verizon board adds Recognize Partners co-founder Charles Phillips
• Accelevation prices IPO at $18 per share on Nasdaq