Ares Commercial Real Estate Corp (ACRE) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.27. The company posted revenue of $10.51 million in the period, compared to analysts expectations of $11.43 million. The company’s revenue was down -14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Ares Commercial Real Estate Corp closed down -0.11 points or -0.86% at $12.64 with 1,27,063 shares getting traded on Tusday. Post opening the session at $12.75, the shares hit an intraday low of $12.61 and an intraday high of $12.75 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 13, 2015, Todd Schuster (CEO) purchased 12,500 shares at $11.60 per share price.
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is primarily focused on directly originating managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. Its target investments include senior loans bridge loans subordinated debt preferred equity and other CRE investments. Ares Management L.P. is the manager of ACRE. The Company operates in two business segments: principal lending and mortgage banking. In its principal lending business the Company originates invests in manages and services middle-market CRE loans and other CRE-related investments for its own account. In its mortgage banking business conducted through a subsidiary ACRE Capital LLC the Company originates sells and retains servicing of primarily multifamily and other senior-living related CRE loans.