ACRE Q3 GAAP net income $9.2M; Distributable Earnings $13.5M; declares $0.33 dividend

Ares Commercial Real Estate Corp

Q3 GAAP net income $9.2M ($0.17/diluted share); Distributable Earnings $13.5M ($0.25/diluted share).
Resolved one defaulted loan, incurring realized loss of $0.09 per diluted share.
Declared Q4 2023 cash dividend of $0.33 per common share, payable Jan 17, 2024 to holders of record Dec 29, 2023.
CEO cites strong liquidity and moderate leverage; company selectively originating new loans.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ares Commercial Real Estate Corp reported quarter ended September 30, 2023 results: net income $9.2 million, EPS $0.17 per diluted common share.

Period: quarter ended September 30, 2023
Net income: $9.2 million
EPS: $0.17 per diluted common share
Result: reported results

Exact text from the filing

ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS THIRD QUARTER 2023 RESULTS Third quarter GAAP net income of $9.2 million or $0.17 per diluted common share and Distributable Earnings (1) of $13.5 million or $0.25 per diluted common share

View on SEC.gov

Browse all earnings releases →

Ares Commercial Real Estate Corp filing history →

Source: SEC EDGAR

accession 0001628280-23-036538

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.