ACRE
Ares Commercial Real Estate Corp
Ares Commercial Real Estate Corp
$ACRE reports strong first quarter earnings and plans to capitalize on market opportunities.
Ares Commercial Real Estate Corp reported a strong Q1 in 2023 with a net income of $14M or $0.27 per diluted common share. Despite the realized loss, the company's distributable earnings stood at $13.3M, and ACRE's strong financial position is expected to support it through current industry challenges. The company plans to capitalize on market opportunities from bank retrenchment and invest in new ventures with attractive risk-adjusted returns. ACRE has paid out dividends for Q1 2023, and investors can access detailed information on its website. However, the COVID-19 pandemic remains a key risk factor for ACRE.
4mo ago
$ACRE