Ares Commercial Real Estate Q4 results dented by CRE woes; stock slides [Seeking Alpha]
Ares Commercial Real Estate Corporation (ACRE)
Last ares commercial real estate corporation earnings: 2/20 06:00 am
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Source: Seeking Alpha
property space caused the mortgage REIT to boost its CECL reserves. That, coupled with a nearly 25% dividend cut , sent ACRE down 5.4% minutes after the opening bell. “However, based upon our experience and capabilities across the Ares Real Estate Group, our liquidity, and our level of loss reserves, we believe that we are well positioned to resolve many of our underperforming loans and redeploy recovered capital into new loans to enhance our earnings going forward,” said CEO Bryan Donohoe. Q4 distributable EPS of $0.20, which may not be comparable to the -$0.43 average analyst estimate, retreated from $0.25 in the prior quarter and rose from $0.05 a year before. Revenue of $17.6M, falling short of the $23.9M consensus, fell from $23.9M in Q3 and $30.4M in Q4 2022. Expenses totaled $8.61M, up from $6.6M in the previous quarter. Net interest margin was $14.4M for the three months ended Dec. 31, 2023, down from $23.1M for the three months ended Sept. 30, 2023. Current expect
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ACRE
News
- Commercial Real Estate Distress Rates Continue To Rise And Here's Why... [Seeking Alpha]Seeking Alpha
- Ares Commercial Real Estate Corporation Schedules Earnings Release and Conference Call for the First Quarter Ended March 31, 2024Accesswire
- Greystone Housing: 9.6% Tax Advantaged Yield, Where We Would Buy [Seeking Alpha]Seeking Alpha
- Ares Commercial: Another Distribution Cut Highly Probable In 1 Year [Seeking Alpha]Seeking Alpha
- Ares Commercial Real Estate Co. (NYSE: ACRE) had its price target lowered by analysts at Keefe, Bruyette & Woods from $8.00 to $7.50. They now have a "market perform" rating on the stock.MarketBeat
ACRE
Earnings
- 2/22/24 - Beat
ACRE
Sec Filings
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- ACRE's page on the SEC website