Ares Commercial Real Estate (ACRE) Tops Q2 EPS by 1c

Ares Commercial Real Estate (NYSE: ACRE) reported Q2 EPS of $0.34, $0.01 better than the analyst estimate of $0.33. Revenue for the quarter came in at $19.85 million versus the consensus estimate of $12.67 million.

“We generated another quarter of strong earnings driven by healthy new investment activity and our well positioned balance sheet,” said Jamie Henderson, Chief Executive Officer and Chief Investment Officer of ACRE.

“Based on the timing of our investment activity early in the fourth quarter and the positioning of our balance sheet to benefit from declining interest rates and other attributes of our company, we currently expect our fourth quarter earnings to exceed that of the third quarter and we remain confident that we will more than cover our annual dividend from Core Earnings for the fourth consecutive year,” said Tae-Sik Yoon, Chief Financial Officer of ACRE.

For earnings history and earnings-related data on Ares Commercial Real Estate (ACRE) click here.

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