ACRE
Ares Commercial Real Estate Corporation5.37
-0.05-0.92%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
295.49MP/E (TTM)
-Basic EPS (TTM)
-0.14Dividend Yield
0.13%Recent Filings
10-Q
Q3 FY2025 results
Ares Commercial Real Estate swung to a $4.7M net profit in Q3 FY2025 ended September 30, 2025, up from a $5.9M loss y/y, driven by a $2.2M CECL reversal that offset $1.6M realized loan losses; net interest margin fell 29% y/y to $8.5M (derived) on lower SOFR rates and a shrunken $1.3B loan portfolio, while REO revenue climbed 20% y/y to $5.6M from office and mixed-use assets. YTD net income of $3.0M improved from a $24.3M loss y/y, with a $27.7M CECL reversal cushioning $34.6M loan losses and a 39% drop in net interest margin to $24.8M (derived). Liquidity holds at $85M cash plus $407M borrowing availability, with $693M total debt (SOFR-based facilities maturing 2026-2028) and $118M CLO debt; no M&A noted. Yet office sector woes persist, with non-accrual loans at 21% of principal.
8-K
Q3 earnings show portfolio progress
Ares Commercial Real Estate Corporation reported Q3 2025 GAAP net income of $4.7 million, or $0.08 per diluted share, with Distributable Earnings of $5.5 million, or $0.10 per share, amid portfolio repositioning. Repayments hit $162 million in the quarter, slashing office loans 6% to $495 million and bolstering $173 million in available capital, while new commitments reached $93 million in multifamily and self-storage. Progress accelerates investing, yet $117 million CECL reserve flags ongoing credit risks.
10-Q
Q2 FY2025 results
Ares Commercial Real Estate posted a Q2 net loss of $11.0M, or $(0.20) per diluted share, wider than the $6.1M, or $(0.11) per share, from Q2 2024, driven by a $33.0M realized loss on a discounted office loan payoff while net interest margin shrank to $7.0M from $13.4M y/y amid lower SOFR rates and a smaller $1.3B loan portfolio (down from $1.7B at year-end). Revenue from real estate owned climbed to $5.5M, up from $3.4M y/y, buoyed by the North Carolina office property acquired in September 2024, though expenses from these assets rose to $4.6M. A $20.2M CECL reversal offset some pain, trimming the reserve to $117.7M, or 8.6% of commitments. Liquidity holds at $90.0M cash with $358.2M available under secured facilities, total debt at $889.4M (effective rate ~5.8%), and no covenant breaches. Yet office sector volatility lingers as a key risk.
8-K
Q2 loss amid portfolio cleanup
Ares Commercial Real Estate Corporation posted a Q2 2025 GAAP net loss of $11 million, or $0.20 per share, driven by $33 million realized losses on an office loan exit, yet Distributable Earnings excluding those losses hit $5 million, or $0.09 per share. The firm slashed office loans 10% quarter-over-quarter to $524 million, reversed $20 million in CECL reserves, and hoarded $178 million in available capital amid $337 million YTD repayments. Portfolio repositioning strengthens liquidity. Risks persist in risk-rated 4 and 5 loans.
8-K
Facility extended, commitment reduced
Ares Commercial Real Estate Corporation amended its $150 million Morgan Stanley repurchase facility on June 30, 2025, extending maturity to July 16, 2026 with an optional one-year extension for a $375,000 fee. The deal shrinks from $250 million but allows expansion back to $250 million via an accordion feature, subject to conditions and an upsize fee. This secures funding while trimming exposure. No defaults noted.
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