secwatch.observer — SEC 8-K summary
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Issuer:     Ares Commercial Real Estate Corp (ACRE)
CIK:        0001529377
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001628280-23-026537
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ACRE reports Q2 2023 GAAP net loss of $2.2M; Distributable Earnings of $19.0M covers dividend
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- GAAP net loss of $2.2M ($0.04/diluted share); Distributable Earnings of $19.0M ($0.35/share) for Q2.
- Declared Q3 2023 regular dividend of $0.33/share, payable Oct 17 to holders of record Sep 29.
- Repurchased ~1.0% of outstanding common shares in Q2 at avg price $8.58/share.
- Cash of $140M plus $75M available financing proceeds as of June 30, 2023.
- CEO says share buybacks and new originations are now better capital uses than supplemental dividends.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529377/000162828023026537/0001628280-23-026537-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529377/000162828023026537/acre-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-026537

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