Ares Commercial Real Estate Corporation (ACRE) posted a first quarter net loss to common stockholders of $12.3 million compared to a loss of $6.4 million, last year. Loss per common share was $0.23 compared to a loss of $0.12. Distributable loss was $33.5 million or $0.62 per share for the first quarter of 2024.
On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.23, for the quarter. Analysts' estimates typically exclude special items.
Total revenue declined to $18.69 million from $26.50 million, last year. Analysts on average had estimated $17.08 million in revenue.
On May 9, the Board declared a regular cash dividend of $0.25 per common share for the second quarter of 2024. The second quarter dividend will be payable on July 16, 2024 to common stockholders of record as of June 28, 2024.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.