$ACR
ACRES Commercial Realty Corp.

2021 Q1 Form 10-Q Financial Statement

#000156459021025602 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $12.70M $14.92M
YoY Change -14.91% 2.44%
Cost Of Revenue $15.05M $20.51M
YoY Change -26.62% -4.52%
Gross Profit $12.25M -$172.6M
YoY Change -107.1% -1482.69%
Gross Profit Margin 96.49% -1156.65%
Selling, General & Admin $4.720M $3.500M
YoY Change 34.86% 16.67%
% of Gross Profit 38.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.400M $700.0K
YoY Change 242.86% 75.0%
% of Gross Profit 19.59%
Operating Expenses -$590.0K $20.05M
YoY Change -102.94% 365.2%
Operating Profit $12.84M -$192.6M
YoY Change -106.67% -2457.53%
Interest Expense $13.72M $18.39M
YoY Change -25.39% -5.16%
% of Operating Profit 106.88%
Other Income/Expense, Net $1.093M -$189.3M
YoY Change -100.58% 18927800.0%
Pretax Income $13.06M -$196.5M
YoY Change -106.65% -2505.39%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $13.06M -$196.5M
YoY Change -106.64% -2516.34%
Net Earnings / Revenue 102.84% -1317.25%
Basic Earnings Per Share $1.03 -$18.89
Diluted Earnings Per Share $1.03 -$18.89
COMMON SHARES
Basic Shares Outstanding 10.20M 10.54M
Diluted Shares Outstanding 10.21M 10.54M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.00M $42.80M
YoY Change 65.89% -23.16%
Cash & Equivalents $70.99M $42.75M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $78.40M $50.10M
YoY Change 56.49% -21.96%
LONG-TERM ASSETS
Property, Plant & Equipment $39.00M
YoY Change
Goodwill
YoY Change
Intangibles $3.210M
YoY Change
Long-Term Investments $21.10M $78.80M
YoY Change -73.22% -82.19%
Other Assets $42.90M $78.80M
YoY Change -45.56% 213.94%
Total Long-Term Assets $1.578B $2.039B
YoY Change -22.61% -4.42%
TOTAL ASSETS
Total Short-Term Assets $78.40M $50.10M
Total Long-Term Assets $1.578B $2.039B
Total Assets $1.656B $2.089B
YoY Change -20.71% -4.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.300M $4.300M
YoY Change -23.26% -2.27%
Accrued Expenses $5.900M $2.300M
YoY Change 156.52% 4.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.40M $9.100M
YoY Change 25.27% -40.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.308B $1.725B
YoY Change -24.19% 6.45%
Other Long-Term Liabilities $1.500M $13.10M
YoY Change -88.55% 244.74%
Total Long-Term Liabilities $1.309B $1.738B
YoY Change -24.68% 7.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.40M $9.100M
Total Long-Term Liabilities $1.309B $1.738B
Total Liabilities $1.321B $1.747B
YoY Change -24.41% 6.55%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.076B $1.086B
YoY Change -0.84% 0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $335.8M $342.1M
YoY Change
Total Liabilities & Shareholders Equity $1.656B $2.089B
YoY Change -20.71% -4.93%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $13.06M -$196.5M
YoY Change -106.64% -2516.34%
Depreciation, Depletion And Amortization $2.400M $700.0K
YoY Change 242.86% 75.0%
Cash From Operating Activities $9.486M $2.338M
YoY Change 305.73% -41.48%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $49.10M -$62.70M
YoY Change -178.31% -31.77%
Cash From Investing Activities $49.10M -$62.73M
YoY Change -178.27% -31.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.519M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.52M 74.07M
YoY Change -116.91% 33.24%
NET CHANGE
Cash From Operating Activities 9.486M 2.338M
Cash From Investing Activities 49.10M -62.73M
Cash From Financing Activities -12.52M 74.07M
Net Change In Cash 46.07M 13.67M
YoY Change 237.03% -142.28%
FREE CASH FLOW
Cash From Operating Activities $9.486M $2.338M
Capital Expenditures $0.00
Free Cash Flow $9.486M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.25%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and within the period of financial results. Actual results could differ from those estimates. Estimates affecting the accompanying consolidated financial statements include but are not limited to the net realizable and fair values of the Company’s investments and derivatives, the estimated useful lives used to calculate depreciation, the expected lives over which to amortize premiums and accrete discounts, reversals of or provisions for expected credit losses and the disclosure of contingent liabilities.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.25%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In December 2019, a novel strain of coronavirus (“COVID-19”) was identified. The resulting global proliferation of the virus led the World Health Organization to designate COVID-19 as a pandemic and numerous countries, including the </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">U.S.</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, to declare national emergencies. Many countries have responded to the outbreak by instituting quarantines and restrictions on travel, which have resulted in the closure or remote operation of non-essential businesses. Such actions have produced material and previously unforeseeable shocks to global markets, disruptions to global supply chains and adversity to many industries and economies as whole. </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">While certain countries around the world have eased restrictions and financial markets have stabilized to some degree, the pandemic continues to plague the overall </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">U.S. </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">economy and cause uncertainty surrounding the ultimate impact on the global economy generally, and the </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">CRE</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> business in particular, that make estimates and assumptions as of</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 31, 2021</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> inherently less certain than they would be absent the current and potential impacts of COVID-19.</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> The Company believes the estimates and assumptions underlying the consolidated financial statements are reasonable and supportable based on the information available at </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 31, 2021</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">. Actual results may ultimately differ from those estimates</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p>
CY2021Q1 acr Cash Balance In Excess Of Federal Deposit Insurance Limit Amount
CashBalanceInExcessOfFederalDepositInsuranceLimitAmount
69600000
CY2020Q4 acr Cash Balance In Excess Of Federal Deposit Insurance Limit Amount
CashBalanceInExcessOfFederalDepositInsuranceLimitAmount
27300000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
70985000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42752000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
42825000
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
65351000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
113810000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108103000
CY2021Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
62900000
CY2020Q4 acr Financing Receivable Recorded Investment Past Due And Current
FinancingReceivableRecordedInvestmentPastDueAndCurrent
1541992000
CY2020Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
11443000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
12969000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
20842000
CY2021Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
0
CY2021Q1 acr Operating Loss Carryforwards Valuation Allowance Tax Expense Impact
OperatingLossCarryforwardsValuationAllowanceTaxExpenseImpact
21200000
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:6.25%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain reclassifications have been made to the 2020 consolidated financial statements, including the consolidated statement of operations and the consolidated statement of cash flows, to conform to the 2021 presentation. These reclassifications had no effect on net income (loss) reported nor the total change in cash flows for each type of cash flow activity on the consolidated statement of cash flows.</p>
CY2021Q1 acr Receipt Of Right Of Use Assets Noncash
ReceiptOfRightOfUseAssetsNoncash
-6000
CY2021Q1 acr Execution Of Operating Lease Noncash
ExecutionOfOperatingLeaseNoncash
6000
CY2020Q1 acr Proceeds From Relinquishment Of Investment Securities Available For Sale Non Cash
ProceedsFromRelinquishmentOfInvestmentSecuritiesAvailableForSaleNonCash
245828000
CY2020Q1 acr Non Cash Repayment Of Repurchase Agreements From Relinquishment Of Investment Securities Available For Sale
NonCashRepaymentOfRepurchaseAgreementsFromRelinquishmentOfInvestmentSecuritiesAvailableForSale
245828000
CY2021Q1 acr Principal Paydowns Receivable
PrincipalPaydownsReceivable
19600000
CY2020Q4 acr Principal Paydowns Receivable
PrincipalPaydownsReceivable
4300000
CY2021Q1 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
39761000
CY2021Q1 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1442610000
CY2021Q1 acr Financing Receivable Recorded Investment Past Due And Current
FinancingReceivableRecordedInvestmentPastDueAndCurrent
1482371000
CY2021Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
39761000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
11443000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1530549000
CY2021Q1 acr Assets Acquired
AssetsAcquired
42194000
CY2020Q4 acr Assets Acquired Cost
AssetsAcquiredCost
42868000
CY2020Q4 acr Assets Acquired Accumulated Depreciation And Amortization
AssetsAcquiredAccumulatedDepreciationAndAmortization
176000
CY2020Q4 acr Assets Acquired
AssetsAcquired
42692000
CY2021Q1 acr Operating Lease Liability Cost
OperatingLeaseLiabilityCost
3113000
CY2021Q1 acr Operating Lease Liabilities Accumulated Depreciation And Amortization
OperatingLeaseLiabilitiesAccumulatedDepreciationAndAmortization
17000
CY2020Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
0
CY2021Q1 acr Financing Receivable Modifications Number Of Borrowers
FinancingReceivableModificationsNumberOfBorrowers
17
CY2021Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
33972000
CY2021Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
559000
CY2021Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
33413000
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
33929000
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
123000
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
33806000
CY2021Q1 acr Operating Lease Right Of Use Asset Cost
OperatingLeaseRightOfUseAssetCost
5603000
CY2021Q1 acr Operating Lease Right Of Use Asset Accumulated Depreciation And Amortization
OperatingLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
32000
CY2021Q1 acr Operating Lease Right Of Use Asset Excluding Leased Copier Asset
OperatingLeaseRightOfUseAssetExcludingLeasedCopierAsset
5571000
CY2020Q4 acr Operating Lease Right Of Use Asset Cost
OperatingLeaseRightOfUseAssetCost
5603000
CY2020Q4 acr Operating Lease Right Of Use Asset Accumulated Depreciation And Amortization
OperatingLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
11000
CY2020Q4 acr Operating Lease Right Of Use Asset Excluding Leased Copier Asset
OperatingLeaseRightOfUseAssetExcludingLeasedCopierAsset
5592000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3337000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
127000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3210000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3336000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
42000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3294000
CY2021Q1 acr Assets Acquired Cost
AssetsAcquiredCost
42912000
CY2021Q1 acr Assets Acquired Accumulated Depreciation And Amortization
AssetsAcquiredAccumulatedDepreciationAndAmortization
718000
CY2021Q1 acr Operating Lease Liability Excluding Leased Copier Liability
OperatingLeaseLiabilityExcludingLeasedCopierLiability
3096000
CY2020Q4 acr Operating Lease Liability Cost
OperatingLeaseLiabilityCost
3113000
CY2020Q4 acr Operating Lease Liabilities Accumulated Depreciation And Amortization
OperatingLeaseLiabilitiesAccumulatedDepreciationAndAmortization
6000
CY2020Q4 acr Operating Lease Liability Excluding Leased Copier Liability
OperatingLeaseLiabilityExcludingLeasedCopierLiability
3107000
CY2021Q1 acr Liabilities Assumed Cost
LiabilitiesAssumedCost
3113000
CY2021Q1 acr Liability Assumed Accumulated Depreciation And Amortization
LiabilityAssumedAccumulatedDepreciationAndAmortization
17000
CY2021Q1 acr Liabilities Assumed Book Value
LiabilitiesAssumedBookValue
3096000
CY2020Q4 acr Liabilities Assumed Cost
LiabilitiesAssumedCost
3113000
CY2020Q4 acr Liability Assumed Accumulated Depreciation And Amortization
LiabilityAssumedAccumulatedDepreciationAndAmortization
6000
CY2020Q4 acr Liabilities Assumed Book Value
LiabilitiesAssumedBookValue
3107000
CY2021Q1 acr Assets Acquired And Liabilities Assumed Cost
AssetsAcquiredAndLiabilitiesAssumedCost
39799000
CY2021Q1 acr Assets Acquired And Liabilities Assumed Net
AssetsAcquiredAndLiabilitiesAssumedNet
39098000
CY2020Q4 acr Assets Acquired And Liabilities Assumed Cost
AssetsAcquiredAndLiabilitiesAssumedCost
39755000
CY2020Q4 acr Assets Acquired And Liabilities Assumed Net
AssetsAcquiredAndLiabilitiesAssumedNet
39585000
CY2021Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
48000
CY2020 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
5000
CY2021Q1 us-gaap Ground Leases Net
GroundLeasesNet
3100000
CY2020Q4 us-gaap Ground Leases Net
GroundLeasesNet
3100000
CY2021Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2500000
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2500000
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
197000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
375000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
375000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
355000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
210000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
210000
CY2020Q1 acr Debt Securities Available For Sale Loss
DebtSecuritiesAvailableForSaleLoss
185400000
CY2020Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
66600000
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1330571000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
22922000
CY2021Q1 us-gaap Notes Payable
NotesPayable
1307649000
CY2021Q1 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0291
CY2021Q1 acr Debt Instrument Maturity Date Free Form
DebtInstrumentMaturityDateFreeForm
P11Y4M24D
CY2021Q1 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
1539158000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1330985000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
26258000
CY2020Q4 us-gaap Notes Payable
NotesPayable
1304727000
CY2020Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0283
CY2020 acr Debt Instrument Maturity Date Free Form
DebtInstrumentMaturityDateFreeForm
P13Y
CY2020Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
1537573000
CY2021Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
169333000
CY2021Q1 us-gaap Securities Loaned Fair Value Of Collateral
SecuritiesLoanedFairValueOfCollateral
388495000
CY2020Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
41572000
CY2020Q4 us-gaap Securities Loaned Fair Value Of Collateral
SecuritiesLoanedFairValueOfCollateral
259385000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
1330571000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
129119000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
143750000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2021Q1 acr Long Term Debt Maturing In Year Four And After
LongTermDebtMaturingInYearFourAndAfter
1057702000
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
9500000
CY2021Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
744664
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
498000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
13056000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-196521000
CY2021Q1 acr Comprehensive Income Loss Net Of Tax Attributable To Preferred Stockholders
ComprehensiveIncomeLossNetOfTaxAttributableToPreferredStockholders
2588000
CY2020Q1 acr Comprehensive Income Loss Net Of Tax Attributable To Preferred Stockholders
ComprehensiveIncomeLossNetOfTaxAttributableToPreferredStockholders
2588000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10468000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-199109000
CY2021Q1 acr Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
9729463
CY2020Q1 acr Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
10542068
CY2021Q1 acr Weighted Average Number Of Warrants Outstanding
WeightedAverageNumberOfWarrantsOutstanding
466661
CY2020Q1 acr Weighted Average Number Of Warrants Outstanding
WeightedAverageNumberOfWarrantsOutstanding
0
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10196124
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10542068
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9245
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10205369
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10542068
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.03
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-18.89
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-18.89
CY2021Q1 acr Reit Required Taxable Income Distribution Percentage
REITRequiredTaxableIncomeDistributionPercentage
0.90
CY2021Q1 acr Reit Taxable Income Distribution For Exempt Federal Income Taxes Percentage
REITTaxableIncomeDistributionForExemptFederalIncomeTaxesPercentage
1
CY2021Q1 acr Cash Proceeds From Sale Of Fixed Rate Commercial Real Estate Loans
CashProceedsFromSaleOfFixedRateCommercialRealEstateLoans
4800000
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
128359000
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0
CY2021Q1 acr Securities Sold Under Agreements To Repurchase Amount Not Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountNotOffsetAgainstCollateral
128359000
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
128359000
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
12258000
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0
CY2020Q4 acr Securities Sold Under Agreements To Repurchase Amount Not Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountNotOffsetAgainstCollateral
12258000
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
12258000
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
182600000
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
20000000.0
CY2021Q1 us-gaap Litigation Reserve
LitigationReserve
0
CY2020Q4 us-gaap Litigation Reserve
LitigationReserve
0

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