Benzinga | Oct 29, 2020 07:39AM EDT

Recap: Ares Commercial Real Estate Q3 Earnings



Shares of Ares Commercial Real Estate Corp (NYSE:ACRE) remained unaffected after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 8.82% over the past year to $0.31, which beat the estimate of $0.24.

Revenue of $22,374,000 rose by 12.73% from the same period last year, which beat the estimate of $17,150,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Oct 29, 2020

Time: 12:00 PM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/acre/mediaframe/40902/indexr.html

Recent Stock Performance

52-week high: $17.72

Company's 52-week low was at $2.78

Price action over last quarter: down 7.91%

Company Description

Ares Commercial Real Estate Corp is a specialty finance company and a Real Estate Investment Trust providing commercial real estate loans and related investments. The company operates in one segments namely originating and managing a diversified portfolio of CRE debt-related investments. The group recognizes its revenues through the interest income it receives from loans.