Loading...
•
Mar 31, 2021
Ares Commercial Real Estate Q1 2021 Earnings Report
Ares Commercial Real Estate reported strong first quarter results with significant growth in earnings compared to the same period in 2020.
Key Takeaways
Ares Commercial Real Estate Corporation reported GAAP net income of $15.7 million, or $0.45 per diluted common share, and Distributable Earnings of $13.9 million, or $0.40 per diluted common share, for the first quarter of 2021. The company's strong earnings and accretive equity offering drove growth in book value per share. The portfolio performed well with no new loans on non-accrual status and 100% of contractual interest payments collected.
First quarter GAAP net income was $15.7 million or $0.45 per diluted common share.
Distributable Earnings were $13.9 million or $0.40 per diluted common share.
Closed $88 million of loans in ACRE, with another $185 million of ACRE eligible loans closed in the Ares Warehouse.
Extended reinvestment period of FL3 Securitization to March 31, 2024.
Forward Guidance
The company believes that its Distributable Earnings will meet or exceed its dividends for the year, including the supplemental dividends.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...