secwatch.observer — SEC 8-K summary
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Issuer:     Ares Commercial Real Estate Corp (ACRE)
CIK:        0001529377
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001628280-24-006104
Event type: earnings
Sentiment:  negative
Materiality: 0.78
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ares Commercial Real Estate posts Q4 GAAP net loss of $39.4M; cuts dividend to $0.25/share
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- Q4 GAAP net loss $39.4M ($0.73/share); Distributable Earnings $10.8M ($0.20/share).
- Full year 2023 GAAP net loss $38.9M ($0.72/share); Distributable Earnings $58.4M ($1.06/share).
- Q1 2024 dividend cut to $0.25/share from $0.33/share (prior quarter), a 24% reduction.
- Increased CECL reserves; commercial office and residential condo loans accounted for 87% of total reserves.
- Ended 2023 with $185M available capital and reduced debt-to-equity ratio for flexibility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529377/000162828024006104/0001628280-24-006104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529377/000162828024006104/acre-20240222.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-006104

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