Acres Commercial Realty Corp is a real estate investment trust (REIT) that invests in income-producing properties, such as retail, office, and industrial properties. The company is headquartered in Long Island, New York, and was founded in 2009.
Acres Commercial Realty Corp has a diversified portfolio of properties located in the United States, with a focus on the New York City metropolitan area. The company's properties are leased to a variety of tenants, including national and regional retailers, government agencies, and professional services firms.
In addition to its portfolio of properties, Acres Commercial Realty Corp also issues preferred stock to raise capital for its business operations. One such preferred stock is the 7.875% Cumulative Redeemable Preferred Stock, Series D (the "Series D Preferred Stock"), which trades on the New York Stock Exchange under the ticker symbol "ACR-D".
The Series D Preferred Stock has a liquidation preference of $25 per share and pays a quarterly dividend of $0.4921875 per share, or 7.875% per annum. The dividend is cumulative, meaning that if the company misses a dividend payment, it must make it up in the future before paying any dividends on its common stock.
The Series D Preferred Stock is rated BBB- by Standard & Poor's and Baa3 by Moody's Investors Service, indicating that it has a moderate degree of credit risk. Investors who are looking for a stable source of income may find the Series D Preferred Stock to be an attractive investment opportunity, as it offers a relatively high yield compared to other fixed-income securities.
Acres Commercial Realty Corp is a real estate investment trust that invests in income-producing properties, with a focus on the New York City metropolitan area. The company's Series D Preferred Stock is a relatively high-yielding fixed-income security that may be of interest to income-oriented investors who are willing to accept a moderate degree of credit risk.
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