ACRES Commercial Realty Corp

For the period ended Dec 31, 2023. Filed Mar 7, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 7, 2024

ACR$11.65-3.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Changes in Equity

	Common Stock
	Shares	Amount	Series C Preferred Stock	Series D Preferred Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Distributions in Excess of Earnings)	Total Stockholders’ Equity	Non-Controlling Interest	Total Equity
Balance, January 1, 2021	10,162,289	$10	$5	$—	$1,085,941	$(9,978)	$(741,596)	$334,382	$—	$334,382
Proceeds from issuance of preferred stock	—	—	—	5	115,189	—	—	115,194	—	115,194
Offering costs	—	—	—	—	(4,589)	—	—	(4,589)	—	(4,589)
Purchase and retirement of common stock	(1,346,539)	(1)	—	—	(18,400)	—	—	(18,401)	—	(18,401)
Stock-based compensation	333,329	—	—	—	—	—	—	—	—	—
Amortization of stock-based compensation	—	—	—	—	1,722	—	—	1,722	—	1,722
Net income	—	—	—	—	—	—	33,923	33,923	—	33,923
Distributions and accrual of cumulative preferred stock dividends	—	—	—	—	—	—	(15,887)	(15,887)	—	(15,887)
Amortization of terminated derivatives	—	—	—	—	—	1,851	—	1,851	—	1,851
Balance, December 31, 2021	9,149,079	$9	$5	$5	$1,179,863	$(8,127)	$(723,560)	$448,195	$—	$448,195

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 - (Continued)

	Common Stock
	Shares	Amount	Series C Preferred Stock	Series D Preferred Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Distributions in Excess of Earnings)	Total Stockholders’ Equity	Non-Controlling Interest	Total Equity
Balance, January 1, 2022	9,149,079	$9	$5	$5	$1,179,863	$(8,127)	$(723,560)	$448,195	$—	$448,195
Offering costs	—	—	—	—	(101)	—	—	(101)	—	(101)
Conversion of 4.5% convertible senior notes	—	—	—	—	4	—	—	4	—	4
Exercise of warrants at $0.03 per share	74,666	—	—	—	2	—	—	2	—	2
Purchase and retirement of common stock	(848,978)	—	—	—	(9,128)	—	—	(9,128)	—	(9,128)
Stock-based compensation	333,333	—	—	—	—	—	—	—	—	—
Amortization of stock-based compensation	—	—	—	—	3,562	—	—	3,562	—	3,562
Contributions from non-controlling interests	—	—	—	—	—	—	—	—	6,043	6,043
Net income	—	—	—	—	—	—	10,623	10,623	(197)	10,426
Distributions and accrual of cumulative preferred stock dividends	—	—	—	—	—	—	(19,422)	(19,422)	—	(19,422)
Amortization of terminated derivatives	—	—	—	—	—	1,733	—	1,733	—	1,733
Balance, December 31, 2022	8,708,100	$9	$5	$5	$1,174,202	$(6,394)	$(732,359)	$435,468	$5,846	$441,314

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 - (Continued)

	Common Stock
	Shares	Amount	Series C Preferred Stock	Series D Preferred Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Distributions in Excess of Earnings)	Total Stockholders’ Equity	Non-Controlling Interest	Total Equity
Balance, January 1, 2023	8,708,100	$9	$5	$5	$1,174,202	$(6,394)	$(732,359)	$435,468	$5,846	$441,314
Purchase and retirement of common stock	(899,085)	(1)	—	—	(7,409)	—	—	(7,410)	—	(7,410)
Stock-based compensation	69,201	—	—	—	599	—	—	599	—	599
Amortization of stock-based compensation	—	—	—	—	2,578	—	—	2,578	—	2,578
Contributions from non-controlling interests	—	—	—	—	—	—	—	—	5,115	5,115
Net income	—	—	—	—	—	—	22,390	22,390	(542)	21,848
Distributions and accrual of cumulative preferred stock dividends	—	—	—	—	—	—	(19,422)	(19,422)	—	(19,422)
Amortization of terminated derivatives	—	—	—	—	—	1,593	—	1,593	—	1,593
Balance, December 31, 2023	7,878,216	$8	$5	$5	$1,169,970	$(4,801)	$(729,391)	$435,796	$10,419	$446,215

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