ACRE reports Q4 GAAP EPS $0.05, Distributable EPS $0.44; declares $0.35/sh dividend

Ares Commercial Real Estate Corp

GAAP net income Q4 $2.9M ($0.05/diluted share); full year $29.8M ($0.57/share).
Distributable Earnings Q4 $23.9M ($0.44/share); full year $80.7M ($1.55/share).
Declares Q1 2023 regular dividend $0.33 plus supplemental $0.02 per share.
Nearly 100% floating rate asset base and partial hedging of liabilities supported earnings.
Received $319M in Q4 repayments; moderate debt-to-equity and strong liquidity.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ares Commercial Real Estate Corp reported quarter ended December 31, 2022 results: net income $2.9 million, EPS $0.05 per diluted common share.

Period: quarter ended December 31, 2022
Net income: $2.9 million
EPS: $0.05 per diluted common share
Result: reported results

Exact text from the filing

reported generally accepted accounting principles (“GAAP”) net income of $2.9 million or $0.05 per diluted common share and Distributable Earnings (1) of $23.9 million or $0.44 per diluted common share for the fourth quarter of 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ares Commercial Real Estate Corp reported year ended December 31, 2022 results: net income $29.8 million, EPS $0.57 per diluted common share.

Period: year ended December 31, 2022
Net income: $29.8 million
EPS: $0.57 per diluted common share
Result: reported results

Exact text from the filing

reported GAAP net income of $29.8 million or $0.57 per diluted common share and Distributable Earnings (1) of $80.7 million or $1.55 per diluted common share for full year 2022

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Source: SEC EDGAR

accession 0001628280-23-003600

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