2023-05-02 06:09:02 ET
- Ares Commercial Real Estate press release ( NYSE: ACRE ): Q1 Non-GAAP EPS of $0.27 misses by $0.03 .
- Revenue of $26.5M (+10.3% Y/Y) misses by $1.76M .
- Declared second quarter 2023 dividend of $0.33 per common share and a supplemental dividend of $0.02 per common share.
- "We continued to build liquidity and operate with strong capital levels throughout the quarter," said Tae-Sik Yoon, Chief Financial Officer of Ares Commercial Real Estate Corporation. “With non-spread based mark to market financing, net debt-to-equity below 2.0x and more than $150 million in cash representing more than 20% of stockholders’ equity as of March 31, 2023, we believe our strong balance sheet positions us to maximize credit outcomes on our higher risk rated assets and make new opportunistic investments with attractive risk adjusted returns.”
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Ares Commercial Real Estate Non-GAAP EPS of $0.27 misses by $0.03, revenue of $26.5M misses by $1.76M