Ares Commercial Real Estate Corp. (ACRE), a finance company, Wednesday announced a wider net loss for the fourth quarter, compared to the prior year.
Shares of Ares Commercial Real Estate are dropping by 14% in the pre-market.
For the fourth quarter, net loss widened to $10.7 million from a loss of $8.3 million last year.
Loss per share also widened to $0.20, from $0.15 in the previous quarter.
Distributable loss was $8.27 million or $0.15 per share.
Revenue for the fourth quarter was $17.50 million.
On February 12, the Board of Directors announced a regular cash dividend of $0.15 per share for the first quarter of 2025. It will be paid on April 15, to shareholders who own stock by March 31.
In the pre-market trading, Ares Commercial is 13.14% lesser at $5.29 on the New York Stock Exchange.
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