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Sep 30, 2021
Ares Commercial Real Estate Q3 2021 Earnings Report
Ares Commercial Real Estate reported strong and stable Distributable Earnings, supported by robust new investment activity.
Key Takeaways
Ares Commercial Real Estate Corporation reported GAAP net income of $10.0 million, or $0.21 per diluted common share, and Distributable Earnings of $17.5 million, or $0.37 per diluted common share, for the third quarter of 2021. The company fully deployed the proceeds from its June equity offering, growing its loan portfolio by more than 30% compared to the same period last year.
GAAP net income was $10.0 million or $0.21 per diluted common share.
Distributable Earnings were $17.5 million or $0.37 per diluted common share.
Closed $485 million of new loan commitments.
Declared fourth quarter 2021 dividend of $0.33 per diluted common share and a supplemental dividend of $0.02 per diluted common share.
Forward Guidance
The company expects to more than fully cover its regular and supplemental dividends from its Distributable Earnings for the year. They believe they are well-positioned to benefit should short-term interest rates materially increase.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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