Ares Commercial Real Estate Corporation (NYSE:ACRE) is set to announce third quarter earning results on Thursday 29th October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, ACRE to report 3Q20 income of $ 0.23 per share.
For the full year, analysts anticipate top line of $ 66.62 million, while looking forward to income of $ 1.14 per share bottom line.
Previous Quarter Performance
Ares Commercial Real Estate Corporation recorded income for the second quarter of $ 0.32 per share, from the revenue of $ 17.98 million. The quarterly earnings declined 15.79 percent while revenues contracted 17.07 percent compared with the same quarter last year.
According to street consensus, ACRE was expected to report 2Q20 income of $ 0.25 per share from revenue of $ 16.92 million. The bottom line results beat street analysts by $ 0.07 or 28.00 percent, at the same time, top line results outshined analysts by $ 1.06 million or 6.26 percent.
Stock Performance
Shares of Ares Commercial Real Estate Corporation traded low $ -0.18 or -1.97 percent on Wednesday, reaching $ 8.97 with volume of 256.20 thousand shares. Ares Commercial Real Estate Corporation has traded high as $ 9.13 and has cracked $ 8.86 on the downward trend
According to the previous trading day, closing price of $ 8.97, representing a 229.14 % increase from the 52 week low of $ 2.78 and a 48.36 % decrease over the 52 week high of $ 17.72.
The company has a market capital of $ 299.97 million and is part of the Real Estate sector and REIT – Diversified industry.
Conference Call
Ares Commercial Real Estate Corporation will be hosting a conference call at 12:00 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.arescre.com
Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, real estate preferred equity investments, mezzanine loans, and other CRE investments.
