Welcome to our dedicated page for Ares Commercial Real Estate Corporation news (Ticker: $ACRE), a resource for investors and traders seeking the latest updates and insights on Ares Commercial Real Estate Corporation stock.
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Ares Commercial Real Estate reported first quarter 2024 results with GAAP net loss of $(12.3) million and Distributable Earnings of $(33.5) million. The company declared a dividend of $0.25 per common share for the second quarter. Progress was made in resolving underperforming loans, leading to a decline in non-accrual loans. Balance sheet de-leveraging occurred, reducing debt by 8%.