Ares Commercial Real Estate Posts Wider Loss In Q1

(RTTNews) - Ares Commercial Real Estate Corporation (ACRE) posted a first quarter net loss to common stockholders of $12.3 million compared to a loss of $6.4 million, last year. Loss per common share was $0.23 compared to a loss of $0.12. Distributable loss was $33.5 million or $0.62 per share for the first quarter of 2024.

On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.23, for the quarter. Analysts' estimates typically exclude special items.

Total revenue declined to $18.69 million from $26.50 million, last year. Analysts on average had estimated $17.08 million in revenue.

On May 9, the Board declared a regular cash dividend of $0.25 per common share for the second quarter of 2024. The second quarter dividend will be payable on July 16, 2024 to common stockholders of record as of June 28, 2024.

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