Ares Commercial Real Estate Corporation reports developments tied to its role as a specialty finance company and real estate investment trust focused on commercial real estate debt. The company directly originates and invests in senior mortgage loans, co-invested loans, subordinate financings, mezzanine debt and preferred equity for commercial real estate owners and operators in U.S. markets.
Recurring news includes quarterly GAAP results and Distributable Earnings, REIT distribution tax reporting, portfolio credit updates, loan repayments, office and REO exposure, liquidity management, secured funding facilities and other liability-management actions. Company updates also describe its external management by a subsidiary of Ares Management Corporation and its national direct origination platform.
Ares Commercial Real Estate (NYSE:ACRE) has announced its schedule for the second quarter 2024 earnings release and conference call. The company will report earnings for Q2 2024 on August 6, 2024, before the New York Stock Exchange opens. A webcast/conference call will be held the same day at 12:00 p.m. Eastern Time to discuss the financial results.
Interested parties can participate via telephone or live webcast. The webcast link will be available on the Investor Resources section of the company's website. Domestic callers can dial +1 (800) 225-9448, while international callers can use +1 (203) 518-9708. The passcode is ACREQ224. An archived replay will be available until September 6, 2024, accessible by phone and through the company's website.
Ares Commercial Real Estate reported first quarter 2024 results with GAAP net loss of $(12.3) million and Distributable Earnings of $(33.5) million. The company declared a dividend of $0.25 per common share for the second quarter. Progress was made in resolving underperforming loans, leading to a decline in non-accrual loans. Balance sheet de-leveraging occurred, reducing debt by 8%.
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