Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
Resource Capital Corp (NYSE:ACR) stock soared to a 52-week high of $23.1, reflecting a remarkable turnaround for the $164 million market cap company over the past year. Trading at just 0.37 times book value, the company maintains a "GOOD" Financial Health Score according to InvestingPro analysis. Investors have shown increased confidence in the firm’s strategic direction, propelling the stock to new heights, though technical indicators suggest overbought conditions. This peak represents a significant milestone for Resource Capital Corp, which has seen its stock value nearly double with an impressive 1-year change of 98.27%. The company’s robust performance and the resulting investor enthusiasm underscore a period of strong growth and positive market sentiment, with InvestingPro analysis indicating the stock remains slightly undervalued despite its recent surge. InvestingPro subscribers have access to 12 additional actionable tips for ACR, providing deeper insights into the company’s potential.
In other recent news, Acres Commercial Realty Corp reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.52, compared to the projected $0.36. Despite this positive earnings surprise, the company’s revenue fell slightly short of projections, coming in at $21.43 million against an anticipated $21.96 million. The company’s strategic focus on high-quality investments and proactive asset management contributed to these results. Earnings Available for Distribution (EAD) doubled from the previous quarter, reaching $0.48 per share. In other developments, Acres Commercial Realty reduced its debt-to-equity leverage ratio and increased its book value per share. The company also reported strong performance in its student housing developments, achieving high occupancy rates. Looking ahead, Acres Commercial Realty aims to expand its portfolio to $1.8-$2.0 billion by year-end, targeting mid-teens return on equity. The company plans to focus on multifamily, hospitality, and self-storage sectors to drive future growth.
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