ACRE Q2 GAAP net income $10.0M ($0.20/share); Distributable Earnings $19.2M ($0.38/share)

Ares Commercial Real Estate Corp

GAAP net income $10.0M ($0.20 diluted EPS); Distributable Earnings $19.2M ($0.38 diluted EPS) for Q2 2022.
Board declared Q3 2022 regular dividend $0.33/share plus supplemental $0.02/share, payable Oct 17, 2022.
CEO cites strong earnings driven by investment activity and floating-rate loan sensitivity to rising rates.
CFO highlights 2.4x debt-to-equity leverage, strong liquidity; 98% loans floating rate, 36% liabilities fixed/hedged.
Management expects full-year Distributable Earnings to fully cover regular and supplemental dividends.

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