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5/07/2025 - 06:00 AM
Ares Commercial Real Estate Corporation (ACRE) reported first quarter GAAP net income of $9.3 million, or $0.17 per diluted common share, and Distributable Earnings(1) of $7.2 million, or $0.13 per diluted common share.
The company declared a second quarter 2025 dividend of $0.15 per common share, payable on July 15, 2025 to common stockholders of record as of June 30, 2025.
"We successfully increased liquidity and reduced debt in the first quarter," said Bryan Donohoe, Chief Executive Officer of ACRE. "Our stable to improving trends across the portfolio, combined with our strong available capital, allows us to consider a wider range of uses for our additional liquidity."
Jeff Gonzales, Chief Financial Officer of ACRE, added, "We believe our balance sheet flexibility enhances our ability to accelerate successful outcomes in our portfolio and positions the Company to evaluate opportunities for investing our additional capital."
As of May 2, 2025, ACRE had approximately $147 million of available capital, including $113 million of cash.
ACRE's first quarter results were driven by a net interest margin of $9.3 million and revenue from real estate owned of $5.7 million.
The company issued a presentation of its first quarter 2025 results, which can be viewed on its website at www.arescre.com. Ares Commercial Real Estate Corporation will host a webcast/conference call to discuss its first quarter 2025 financial results on Wednesday, May 7, 2025 at 12:00 p.m. (Eastern Time).
(1) Distributable Earnings (Loss) is a non-GAAP financial measure. Refer to Schedule I for the definition and reconciliation of Distributable Earnings (Loss).
