Ares Commercial reports Q3 GAAP EPS 8c, consensus 4c

Reports Q3 revenue $14.10M, consensus $12.36M. “In the Q3, we delivered increased sequential earnings and stable CECL reserve and book values, while continuing to strengthen our financial flexibility by addressing risk rated 4 and 5 loans and reducing office loans,” said Bryan Donohoe, CEO of Ares Commercial (ACRE) Real Estate Corporation. “Our progress is driving ACRE’s ability to accelerate its investing activity, evidenced by more than $360M of new loan commitments since the beginning of the Q3. We believe this investment activity, alongside the resolution of non-earning assets, are important steps in repositioning the portfolio.”