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Sep 30, 2024
Ares Commercial Real Estate Q3 2024 Earnings Report
Ares Commercial Real Estate reported a GAAP net loss of $(5.9) million and Distributable Earnings of $3.7 million.
Key Takeaways
Ares Commercial Real Estate Corporation reported a GAAP net loss of $(5.9) million or $(0.11) per diluted common share and Distributable Earnings of $3.7 million or $0.07 per diluted common share for the third quarter of 2024. The company focused on strengthening its balance sheet and resolving risk-rated loans.
GAAP net loss was $(5.9) million or $(0.11) per diluted common share.
Distributable Earnings were $3.7 million or $0.07 per diluted common share.
Risk rated 4 and 5 loans decreased by 33%.
Outstanding debt balance declined by 8%.
Revenue by Segment
Forward Guidance
The company believes it is well positioned to resolve remaining underperforming assets, which will ultimately position the Company for higher levels of portfolio growth and earnings in the future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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