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.
Ares Commercial Real Estate Corporation (NYSE: ACRE) is a specialty finance company that focuses on originating and investing in commercial real estate loans and related investments. Through its national direct origination platform, ACRE offers a wide range of flexible and reliable financing solutions for commercial real estate owners and operators. The company's primary products include senior mortgage loans, subordinate financings, mezzanine debt, and preferred equity, targeting a diversity of property types in liquid markets across the United States.
As a Real Estate Investment Trust (REIT), ACRE is externally managed by a subsidiary of Ares Management Corporation, a global alternative asset manager. The company has demonstrated resilience and adaptability in a challenging economic landscape, maintaining a strong balance sheet and significant liquidity, which allows it to navigate industry challenges and capitalize on market opportunities.
ACRE's recent achievements include the resolution of several underperforming loans, substantial reductions in debt levels, and maintaining a disciplined approach to new loan originations. For the first quarter of 2024, ACRE reported a GAAP net loss of $12.3 million or $0.23 per diluted common share, and Distributable Earnings (Loss) of $(33.5) million or $(0.62) per diluted common share. Despite these challenges, the company remains focused on maximizing credit outcomes and selectively originating new loans to benefit from attractive spreads.
The company declared a regular cash dividend of $0.25 per common share for the second quarter of 2024, reflecting its ongoing commitment to providing dividends to shareholders. ACRE continues to leverage the broad resources of the Ares platform and its deep credit capabilities to enhance shareholder value.
Additional information can be accessed via ACRE's investor resources section on their website (www.arescre.com), which hosts presentations, financial reports, and details on upcoming webcasts and conference calls.
Ares Commercial Real Estate Corporation (NYSE: ACRE) announced the tax treatment for its 2021 common stock distributions. The record date for the cash distribution of $0.3500 per share is set for December 31, 2021, with a payment date of January 19, 2022. Total distributions for the year amount to $1.4000, with $1.3492 allocable as capital gain. Notably, the entire distribution for 2021 is treated as taxable income. Shareholders are advised to consult tax advisors for individual tax treatment guidance.
Ares Commercial Real Estate Corporation (NYSE: ACRE) has appointed Rebecca Parekh to its Board of Directors, expanding the board from seven to eight members. Ms. Parekh brings extensive experience in business strategy and finance, having previously served as COO for Deepak Chopra Radical Well-Being and held various roles at Deutsche Bank. Chairman Bill Benjamin and CEO Bryan Donohoe express confidence in her ability to enhance shareholder value amid record origination activity.
Ares Commercial Real Estate Corporation (NYSE: ACRE) has successfully amended its secured Term Loan, increasing its capacity from
Ares Commercial Real Estate Corporation (NYSE:ACRE) reported Q3 2021 GAAP net income of $10.0 million or $0.21 per diluted common share, with Distributable Earnings of $17.5 million or $0.37 per diluted common share. The company closed $485 million in new loan commitments and anticipates covering regular and supplemental dividends from its earnings. They expect to benefit from potential interest rate increases due to floating rate loans and hedges. The fourth quarter dividend is set at $0.33 and a supplemental $0.02 per share.
Ares Commercial Real Estate Corporation (NYSE: ACRE) will report its third-quarter earnings for the period ending September 30, 2021, on November 3, 2021, before the NYSE opens. A conference call will follow at 12:00 p.m. ET to discuss the financial results. Investors can join the call via telephone or a live webcast. An archived replay of the call will be available until November 17, 2021. ACRE is involved in originating and investing in commercial real estate loans, emphasizing financing solutions for properties across the United States.
Ares Commercial Real Estate Corporation (NYSE: ACRE) reported GAAP net income of $17.6 million, equivalent to $0.43 per diluted share, and Distributable Earnings of $15.1 million or $0.37 per diluted share for Q2 2021. This marks a 16% increase in Distributable Earnings per share year-over-year. The company secured $311 million in commitments during Q2, with an additional $254 million closed in July. The overall loan performance is improving, reflected in a decline in CECL reserves and a continuous rise in book value per share for four consecutive quarters.
Ares Commercial Real Estate Corporation (NYSE: ACRE) will release its earnings for the second quarter ending June 30, 2021, on July 30, 2021, before the New York Stock Exchange opens. A conference call is scheduled for the same day at 12:00 p.m. ET to discuss the financial results. Investors can join via telephone or a live webcast on the company’s website. Ares Commercial focuses on providing diverse financing solutions for commercial real estate, including senior mortgage loans and mezzanine debt.
Ares Commercial Real Estate Corporation (NYSE:ACRE) announced the pricing of a public offering of 6,500,000 shares of common stock, generating approximately $102.8 million in gross proceeds. The underwriters have a 30-day option to purchase an additional 975,000 shares. The offering, expected to close around June 22, 2021, will fund general corporate purposes, including mortgage loans, existing commitments, and debt repayment. The registration statement has been filed and declared effective with the SEC, and the offering will only be conducted via a prospectus supplement.
Ares Commercial Real Estate Corporation (NYSE:ACRE) has initiated a public offering of 6,500,000 shares of common stock, with an option for underwriters to purchase an additional 975,000 shares. The proceeds will be utilized for general corporate purposes including investments in mortgage loans and repaying indebtedness. The offering is managed by Morgan Stanley, Wells Fargo, and BofA Securities. A registration statement relating to these securities is effective, facilitating this offering.
Ares Commercial Real Estate Corporation (NYSE:ACRE) reported a GAAP net income of $15.7 million, or $0.45 per diluted share, and Distributable Earnings of $13.9 million ($0.40 per share) for Q1 2021. The company emphasized growth in earnings compared to Q1 2020 and a robust portfolio with no non-accrual loans and full interest collections. A regular cash dividend of $0.33 and a supplemental dividend of $0.02 per common share were declared for Q1 2021, payable on April 15, 2021. ACRE is optimistic about future earnings exceeding dividends throughout 2021.
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