Ares Commercial Real Estate Q3 Profit Rises

(RTTNews) - Ares Commercial Real Estate Corp. (ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported net income attributable to common stockholders of $18.44 million or $0.65 per share for the third quarter of 2016, up from $9.38 million or $0.33 per share in the prior year.

Adjusted net income from operations of $9.0 million or $0.31 per diluted common share for the third quarter of 2016.

Interest income from loans held for investment was $20.78 million, compared to $20.95 million in the prior year.

In addition, the Company announced that its Board of Directors declared a fourth quarter 2016 dividend of $0.26 per common share payable on January 17, 2017 to common stockholders of record on December 30, 2016.