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Mar 31, 2022
Ares Commercial Real Estate Q1 2022 Earnings Report
Reported first quarter results with net income and distributable earnings at $0.34 per diluted common share.
Key Takeaways
Ares Commercial Real Estate Corporation reported GAAP net income of $16.2 million, or $0.34 per diluted common share, and Distributable Earnings of $16.3 million, or $0.34 per diluted common share, for the first quarter of 2022. The company closed $263 million of new loan commitments during the quarter.
First quarter GAAP net income was $16.2 million or $0.34 per diluted common share.
Distributable Earnings for the first quarter were $16.3 million or $0.34 per diluted common share.
Closed $263 million of new loan commitments in the first quarter.
Declared second quarter 2022 dividend of $0.33 per common share and a supplemental dividend of $0.02 per common share.
Forward Guidance
The company expects an increase in Distributable Earnings for the second quarter due to an accelerated pace of investments, increased credit spreads, and higher potential base interest rates. ACRE continues to benefit from the scale and global reach of Ares Management’s real estate platform.
Positive Outlook
- Accelerated pace of investments expected.
- Increased credit spreads anticipated.
- Higher potential base interest rates expected.
- Benefits from the scale and global reach of Ares Management’s real estate platform.
- Earnings are positioned to continue to benefit from potential increases in interest rates given our floating rate loan portfolio combined with the interest rate hedges on our liabilities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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