Ares Commercial Real Estate posts Q2 net loss $0.11/share; appoints new CFO and COO

Ares Commercial Real Estate Corp

GAAP net loss of $6.1M ($0.11 per diluted share); Distributable Earnings loss of $6.6M ($0.12 per share).
Q3 2024 dividend declared $0.25 per share, payable Oct 15, 2024 to holders of record Sep 30.
Tae-Sik Yoon named COO; Jeff Gonzales named CFO & Treasurer, effective Aug 30, 2024.
CEO notes progress resolving risk-rated loans; actions meant to position for future growth.

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