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ACRES Commercial Realty Corp. (ACR) CEO Mark Fogel on Q1 2021 Results - Earnings Call Transcript

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ACRES Commercial Realty Corp. (NYSE:ACR) Q1 2021 Earnings Conference Call May 5, 2021 5:00 PM ET

Company Participants

Kyle Brengel - Vice President

Mark Fogel - President and Chief Executive Officer

Dave Bryant - Chief Financial Officer

Andrew Fentress - Chairman

Conference Call Participants

Steven Laws - Raymond James

Chris Muller - JMP Securities


Good day, ladies and gentlemen, and welcome to the First Quarter 2021 ACRES Commercial Realty Corp. Earnings Conference Call. Currently, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session with instructions to follow at that time. [Operator Instructions] As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference, Kyle Brengel, Vice President. You may begin.

Kyle Brengel

Good afternoon and thank you for joining our call. Before we begin, I want to remind everyone that certain statements made during this call are not based on historical information and may constitute forward-looking statements. When used in this conference call, the words believes, anticipates, expects, and similar expressions are intended to identify forward-looking statements.

Although the company believes that these forward-looking statements are based on reasonable assumptions, such statements are based on management's current expectations and beliefs, and are subject to several trends, risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements.

These risks and uncertainties are discussed in the company's reports filed with the SEC, including its reports on Form 8-K, 10-Q, 10-K and in particular, the Risk Factors sections of our Form 10-K and Form 10-Q.

Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update any of these forward-looking statements.

Furthermore, certain non-GAAP financial measures will

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Comments (3)

dopollard4 profile picture
@GuyRien1 From the transcript, sounds like they aren't in a hurry to establish/reinstate one. At least not until they feel safe that they've got a lock on an ROE of at least in the low-teens.
@dopollard4 That's a change. Last few calls Fogel has said he was hoping to reinstated the dividend even if its a nickel (to use his words).

Oh well, can't complain too much, the pivot so that 50% of their loans are single home mortgages
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