Quarterly ResultMay 7, 2026, 06:12 AM
Ares Commercial Real Estate Q1 GAAP Net Loss $(9.6)M; Distributable EPS $0.06
AI Summary
Ares Commercial Real Estate Corp reported a GAAP net loss of $(9.6) million or $(0.17) per diluted common share for the first quarter of 2026, alongside Distributable Earnings of $3.2 million or $0.06 per diluted common share. The company declared a Q2 2026 dividend of $0.15 per common share. Operationally, ACRE closed $294 million in new loan commitments, growing its investment portfolio to $1.7 billion, and subsequently closed an additional $95 million in new loan commitments. The company also enhanced its financing structure by increasing borrowing capacity by $300 million and redeemed the FL4 CLO, while reducing risk-rated 4 and 5 loans to $368 million.
Key Highlights
- GAAP net loss was $(9.6) million or $(0.17) per diluted common share for Q1 2026.
- Distributable Earnings were $3.2 million or $0.06 per diluted common share for Q1 2026.
- Ares Commercial Real Estate declared a Q2 2026 cash dividend of $0.15 per common share.
- Closed $294 million of new loan commitments in Q1 2026, growing the portfolio to $1.7 billion.
- Subsequent to quarter-end, closed an additional $95 million of new loan commitments.
- Increased borrowing capacity on two secured funding facilities by $300 million.
- Reduced risk-rated 4 and 5 loans to $368 million at Q1 2026.
- Redeemed the FL4 CLO, lowering borrowing costs.