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Mar 31, 2023
Ares Commercial Real Estate Q1 2023 Earnings Report
Ares Commercial Real Estate reported a GAAP net loss and Distributable Earnings for Q1 2023.
Key Takeaways
Ares Commercial Real Estate Corporation reported a GAAP net loss of $6.4 million, or $0.12 per diluted common share, and Distributable Earnings of $15.1 million, or $0.27 per diluted common share, for the first quarter of 2023. The company's results benefited from higher interest rates and progress in resolving watch list assets.
GAAP net loss of $6.4 million or $0.12 per diluted common share.
Distributable Earnings of $15.1 million or $0.27 per diluted common share.
Declared second quarter 2023 dividend of $0.33 per common share and a supplemental dividend of $0.02 per common share.
Strong financial position and deep credit capabilities enable navigation of industry challenges.
Forward Guidance
Ares Commercial Real Estate is confident that its strong financial position, deep credit capabilities, and the broad resources of Ares Management will enable it to navigate industry challenges, capitalize on an expanded market opportunity from bank retrenchment, and continue to generate attractive dividends for shareholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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