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Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported generally accepted accounting principles (“GAAP”) net income of $14.4 million or $0.43 per diluted common share and Distributable Earnings
(1) of $13.7 million or $0.41 per diluted common share for the fourth quarter of 2020. The Company reported GAAP net income of $21.8 million or $0.66 per diluted common share and Distributable Earnings
(1) of $45.1 million or $1.36 per diluted common share for full year 2020.
“We ended the year in a position of strength with our highest quarterly Distributable Earnings in 2020, an attractive balance sheet, consistent interest collections and no credit related losses,” said Bryan Donohoe, Chief Executive Officer of ACRE. “Based on our strong outlook for 2021 Distributable Earnings,
Ares Commercial Real Estate Corporation Reports Fourth Quarter and Full Year 2020 Results apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.