secwatch.observer — SEC 8-K summary
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Issuer:     Ares Commercial Real Estate Corp (ACRE)
CIK:        0001529377
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001628280-24-021910
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ACRE Q1 2024 GAAP net loss $12.3M ($0.23/sh); Distributable loss $33.5M ($0.62/sh)
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- GAAP net loss of $12.3M, or $0.23 per diluted share; Distributable Earnings loss of $33.5M, or $0.62 per diluted share.
- Exited or restructured four loans; non-accrual principal balance declined 31% QoQ.
- Total debt reduced 8% to below $1.5 billion; balance sheet de-leveraging continues.
- Q2 2024 dividend declared at $0.25 per share, payable July 16, 2024 to holders of record June 28, 2024.
- CEO cites progress on underperforming loans and Ares platform as positioned to drive shareholder value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529377/000162828024021910/0001628280-24-021910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529377/000162828024021910/acre-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-021910

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