Ares Commercial Real Estate Corporation - ACRE STOCK NEWS

Ares Commercial Real Estate Corporation (ACRE) reported second-quarter 2022 GAAP net income of $10 million ($0.20 per diluted share) and Distributable Earnings of $19.2 million ($0.38 per diluted share). The company declared a third quarter 2022 dividend of $0.33 per share and a supplemental dividend of $0.02 per share. ACRE maintains a 2.4x debt-to-equity ratio and reports that 98% of its loans are floating rate, allowing for potential benefits from rising interest rates.

Future dividends are expected to be covered by Distributable Earnings.

Ares Commercial Real Estate Corporation (NYSE: ACRE) will announce its second quarter earnings for the period ending June 30, 2022 on July 29, 2022, prior to the opening of the New York Stock Exchange. A conference call will take place on the same day at 12:00 p.m. ET, where the company's financial results will be discussed. Interested parties can join via telephone or a live webcast available on the company's investor resources webpage. Archived replays will be accessible until August 26, 2022.

Ares Commercial Real Estate Corporation (NYSE:ACRE) has announced the pricing of a public offering of 7,000,000 shares of common stock, expected to generate approximately $104.7 million. The underwriters also have an option to purchase an additional 1,050,000 shares. The net proceeds will be utilized for general corporate purposes, including investing in mortgage loans, funding existing commitments, and repaying debt. The offering is managed by major financial firms, ensuring broad access to capital.

Ares Commercial Real Estate Corporation (NYSE:ACRE) has announced a public offering of 7,000,000 shares of common stock, with an option for underwriters to purchase an additional 1,050,000 shares. The company intends to utilize the net proceeds for general corporate purposes, including investing in mortgage loans, funding existing loan commitments, and repaying indebtedness. The offering is managed by major financial institutions including Morgan Stanley and Wells Fargo, with a registration statement already filed with the SEC.

Ares Commercial Real Estate Corporation (ACRE) reported a GAAP net income of $16.2 million or $0.34 per diluted common share for Q1 2022. Distributable Earnings also stood at $16.3 million, maintaining the same per share value. The company closed $263 million in new loan commitments in Q1 and an additional $123 million early in Q2. A second quarter dividend of $0.33 per common share, plus a supplemental $0.02 dividend was declared. The company predicts increased Distributable Earnings due to rising credit spreads and interest rates.

Ares Commercial Real Estate Corporation (NYSE: ACRE) will report its earnings for Q1 2022 on May 3, 2022, before the market opens. The company will host a live conference call at 12:00 p.m. ET to discuss financial results. Interested parties can join via telephone or a webcast, with replay options available until June 3, 2022. ACRE specializes in originating and investing in commercial real estate loans, providing a range of financing solutions for property owners in the U.S.

Ares Commercial Real Estate Corporation (NYSE:ACRE) announced that it will provide financing for the acquisition of the Westchester Marriott in Tarrytown, NY by Taconic Capital Advisors and HEI Hotels & Resorts, who purchased the property for $40 million. The 444-key hotel, set to undergo a $30 million renovation, features extensive meeting and event space. With recent supply reductions in the Westchester market, the partners aim to enhance the property's value and performance through strategic repositioning.

Ares Commercial Real Estate Corporation (NYSE:ACRE) reported a GAAP net income of $17.2 million or $0.36 per diluted share for Q4 2021, with full-year GAAP net income at $60.5 million or $1.42 per diluted share. Distributable Earnings for Q4 were $19.4 million ($0.41 per diluted share) and $66 million ($1.55 per diluted share) for the full year. The company achieved record loan originations of $1.4 billion in 2021, and both regular and supplemental dividends were declared consistently for Q1 2022. An Annual Meeting is set for May 25, 2022.

Ares Commercial Real Estate Corporation (NYSE: ACRE) will report its earnings for the fourth quarter and full year ended December 31, 2021, on February 15, 2022, before the market opens. A conference call to discuss the results is scheduled for the same day at 12:00 p.m. Eastern Time. Interested participants can join via telephone or online. ACRE specializes in commercial real estate loans and operates primarily in the U.S., focusing on providing flexible financing solutions through its national direct origination platform.