ACRE on NYSE
Ares Commercial Real Estate Corp
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs99¢$54.5M
- Income tax1¢$285.0K
Out of $54.8M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid100¢$39.0M
Out of $21.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest income | $97.6M | $157.7M | $198.6M |
| Interest expense | -$65.2M | -$106.0M | -$109.7M |
| Net interest margin | $32.4M | $51.7M | $89.0M |
| Revenue from real estate owned | $22.4M | $17.9M | $4.0M |
| Total revenue | $54.8M | $69.7M | $92.9M |
| Management and incentive fees to affiliate | $9.8M | $10.7M | $12.3M |
| Professional fees | $2.8M | $2.6M | $3.1M |
| General and administrative expenses | $7.0M | $7.8M | $7.2M |
| General and administrative expenses reimbursed to affiliate | $3.6M | $3.8M | $3.4M |
| Expenses from real estate owned | $18.2M | $13.0M | $2.5M |
| Total expenses | $41.4M | $37.9M | $28.5M |
| (Provision for) reversal of current expected credit losses, net | $17.8M | $18.2M | -$91.8M |
| Realized losses on loans | -$34.6M | -$83.6M | -$10.5M |
| Change in unrealized losses on loans held for sale | $0 | $995.0K | -$995.0K |
| Realized gain (loss) on sale of real estate owned | $2.8M | -$2.3M | $0 |
| Income (loss) before income taxes | -$617.0K | -$35.0M | -$38.9M |
| Income tax expense (benefit), including excise tax | $285.0K | -$18.0K | -$39.0K |
| Net income (loss) attributable to common stockholders | -$902.0K | -$35.0M | -$38.9M |
| Basic earnings (loss) per common share (in dollars per share) | -$0 | -$1 | -$1 |
| Diluted earnings (loss) per common share (in dollars per share) | -$0 | -$1 | -$1 |
| Basic weighted average shares of common stock outstanding (in shares) | 54.9M shares | 54.4M shares | 54.3M shares |
| Diluted weighted average shares of common stock outstanding (in shares) | 54.9M shares | 54.4M shares | 54.3M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $29.3M | $63.8M | $110.5M |
| Restricted cash ($1,108 and $2,495 related to consolidated VIEs, respectively) | $37.9M | $2.5M | $0 |
| Loans held for investment ($138,950 and $551,955 related to consolidated VIEs, respectively) | $1.5B | $1.7B | |
| Current expected credit loss reserve | -$125.8M | -$136.2M | |
| Investment in available-for-sale debt securities, at fair value | $0 | $8.7M | |
| Other assets ($76 and $1,991 of interest receivable related to consolidated VIEs, respectively) | $17.8M | $16.7M | |
| Total assets | $1.6B | $1.8B | |
| Secured funding agreements | $858.2M | $588.5M | |
| Secured term loan | $89.4M | $128.1M | |
| Collateralized loan obligation securitization debt (consolidated VIEs) | $99.9M | $455.8M | |
| Due to affiliate | $4.1M | $3.8M | |
| Dividends payable | $8.4M | $13.9M | |
| Total liabilities | $1.1B | $1.2B | |
| Common stock, par value $0.01 per share, 450,000,000 shares authorized at December 31, 2025 and 2024 and 55,026,453 and 54,542,178 shares issued and outstanding at December 31, 2025 and 2024, respectively | $532.0K | $532.0K | |
| Additional paid-in capital | $820.8M | $816.9M | |
| Accumulated other comprehensive income (loss) | $0 | $37.0K | |
| Accumulated earnings (deficit) | -$311.8M | -$277.4M | |
| Total stockholders' equity | $509.6M | $540.1M | $625.8M |
| Total liabilities and stockholders' equity | $1.6B | $1.8B | |
| Real estate owned held for investment, net | $130.2M | $139.0M | |
| Other liabilities | $48.6M | $21.0M | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 450.0M shares | 450.0M shares | |
| Common stock, shares issued (in shares) | 55.0M shares | 54.5M shares | |
| Common stock, shares outstanding (in shares) | 55.0M shares | 54.5M shares | |
| Loans held for investment, net of current expected credit loss reserve | $1.4B | $1.5B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$902.0K | -$35.0M | -$38.9M |
| Amortization of deferred financing costs | $4.6M | $5.1M | $3.9M |
| Accretion of discounts, deferred loan origination fees and costs | -$4.3M | -$5.0M | -$6.1M |
| Stock-based compensation | $3.9M | $4.7M | $4.0M |
| Depreciation and amortization of real estate owned | $8.5M | $4.8M | $1.0M |
| Provision for (reversal of) current expected credit losses, net | -$17.8M | -$18.2M | $91.8M |
| Realized losses on loans | $34.6M | $83.6M | $10.5M |
| Change in unrealized losses on loans held for sale | $0 | -$995.0K | $995.0K |
| Amortization of derivative financial instruments | $0 | $0 | -$921.0K |
| Realized (gain) loss on sale of real estate owned | -$2.8M | $2.3M | $0 |
| Other assets | -$2.2M | -$1.9M | -$19.9M |
| Due to affiliate | $271.0K | -$345.0K | -$1.4M |
| Other liabilities | -$2.6M | -$3.5M | $1.8M |
| Net cash provided by (used in) operating activities | $21.4M | $35.5M | $46.8M |
| Issuance of and fundings on loans held for investment | -$489.2M | -$44.1M | -$199.8M |
| Principal collections and cost-recovery proceeds on loans held for investment | $582.2M | $394.7M | $288.6M |
| Proceeds from sale of loans held for sale | $0 | $39.0M | $37.2M |
| Receipt of origination and other loan fees | $6.5M | $3.0M | $1.5M |
| Principal repayment of available-for-sale debt securities | $8.7M | $19.3M | $0 |
| Purchases of capitalized additions to real estate owned | -$1.6M | -$358.0K | $0 |
| Proceeds from sale of real estate owned | $4.8M | $12.8M | $0 |
| Restricted cash assumed from acquisition of real estate owned | $0 | $3.6M | $0 |
| Receipt (disbursement) of escrows and reserves for loans held for investment, net | $36.8M | $0 | $0 |
| Net cash provided by (used in) investing activities | $148.1M | $427.9M | $127.5M |
| Repayments of notes payable | $0 | -$105.0M | $0 |
| Payment of secured funding costs | -$3.2M | -$3.7M | -$4.0M |
| Repayments of debt of consolidated VIEs | -$356.1M | -$267.9M | -$55.1M |
| Dividends paid | -$39.0M | -$59.6M | -$76.0M |
| Repurchase of common stock | $0 | $0 | -$4.6M |
| Net cash provided by (used in) financing activities | -$168.6M | -$507.6M | -$205.1M |
| Change in cash, cash equivalents and restricted cash | $863.0K | -$44.2M | -$30.8M |
| Interest paid during the period | $61.1M | $102.8M | $103.7M |
| Income taxes paid during the period | $0 | $0 | $375.0K |
| Dividends declared, but not yet paid | $8.4M | $13.9M | $18.2M |
| Other receivables related to consolidated VIEs | $0 | $0 | $32.0M |
| Assumption of real estate owned | $0 | $74.7M | $84.3M |
| Assumption of other assets related to real estate owned | $0 | $397.0K | $353.0K |
| Assumption of other liabilities related to real estate owned | $0 | $4.3M | $1.7M |
| Transfer of senior mortgage loans to real estate owned | $0 | $96.5M | $82.9M |
Compare Ares Commercial Real Estate Corp with another company
Recent filings
- Oct 9, 20268-K
- Sep 22, 20268-K
- Aug 4, 20268-K
- Aug 4, 202610-Q
- Jul 31, 2026SCHEDULE 13G
- Jun 1, 20268-K
- May 15, 2026DEFA14A
- May 7, 20268-K
- May 7, 202610-Q
- May 1, 20264
- May 1, 20264
- May 1, 20264
- May 1, 20264
- May 1, 20264
- May 1, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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