Stock ACRE ARES COMMERCIAL REAL ESTATE CORPORATION
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Financials Ares Commercial Real Estate Corporation

Equities

ACRE

US04013V1089

Specialized REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-05-20 pm EDT 		5-day change 1st Jan Change
6.93 USD +1.61% Intraday chart for Ares Commercial Real Estate Corporation +2.97% -33.11%
May. 09 Transcript : Ares Commercial Real Estate Corporation, Q1 2024 Earnings Call, May 09, 2024
May. 09 Earnings Flash (ACRE) ARES COMMERCIAL REAL ESTATE CORPORATION Reports Q1 Revenue $1.7M, vs. Street Est of $20.5M MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 453.6 397.1 682.8 559.9 560.4 377.6 - -
Enterprise Value (EV) 1 1,784 1,753 2,555 2,155 2,067 1,884 2,026 377.6
P/E ratio 12.4 x 18 x 10.2 x 18.1 x -14.4 x 29.1 x 9.39 x 6.9 x
Yield 8.33% 11.1% 9.63% 13.6% 13.1% 14.1% 14.2% 14.4%
Capitalization / Revenue 8.69 x 5.75 x 8.17 x 5.24 x 6.03 x 4.18 x 4.81 x 4.8 x
EV / Revenue 34.2 x 25.4 x 30.6 x 20.2 x 22.2 x 20.9 x 25.8 x 4.8 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.07 x 0.84 x 0.91 x 0.75 x 0.9 x 0.67 x 0.67 x 0.64 x
Nbr of stocks (in thousands) 28,635 33,338 46,958 54,413 54,090 54,489 - -
Reference price 2 15.84 11.91 14.54 10.29 10.36 6.930 6.930 6.930
Announcement Date 2/20/20 2/18/21 2/15/22 2/15/23 2/22/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 52.2 69.1 83.55 106.8 92.93 90.25 78.43 78.62
EBITDA - - - - - - - -
EBIT 1 - 46.38 61.19 74.12 64.41 74.63 85.92 -
Operating Margin - 67.12% 73.24% 69.37% 69.32% 82.69% 109.54% -
Earnings before Tax (EBT) 1 37.51 22.19 61.18 30.26 -38.91 13.2 36.72 -
Net income 1 36.99 21.84 60.46 29.78 -38.87 3.403 38.18 -
Net margin 70.86% 31.6% 72.36% 27.88% -41.83% 3.77% 48.68% -
EPS 2 1.280 0.6600 1.420 0.5700 -0.7200 0.2380 0.7384 1.004
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.320 1.320 1.400 1.400 1.360 0.9750 0.9833 1.000
Announcement Date 2/20/20 2/18/21 2/15/22 2/15/23 2/22/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 23.86 21.35 25.15 27.27 30.41 26.5 24.99 23.88 17.55 18.69 23.15 22.8 22.7 20.71 20.05
EBITDA - - - - - - - - - - - - - - -
EBIT 1 - - - 20.13 22.58 20.3 - 17.28 8.946 10.14 4.725 5.029 5.54 5.643 -
Operating Margin - - - 73.83% 74.24% 76.61% - 72.36% 50.97% 54.25% 20.41% 22.06% 24.41% 27.24% -
Earnings before Tax (EBT) 1 17.28 16.31 10.13 0.649 3.173 -6.329 -2.244 9.168 -39.5 -12.32 6 9 9 9.8 11.1
Net income 1 17.15 16.2 10.03 0.644 2.909 -6.439 -2.198 9.184 -39.41 -12.32 1.668 6.803 7.473 8.897 11
Net margin 71.88% 75.88% 39.89% 2.36% 9.57% -24.3% -8.8% 38.45% -224.56% -65.93% 7.21% 29.84% 32.92% 42.95% 54.87%
EPS 2 0.3600 0.3400 0.2000 0.0100 0.0500 -0.1200 -0.0400 0.1700 -0.7300 -0.2300 0.003200 0.1092 0.1185 0.1811 0.2099
Dividend per Share 2 0.3500 0.3500 0.3500 0.3500 0.3500 0.3500 0.3500 0.3300 0.3300 - 0.2400 0.2400 0.2400 0.2500 0.2500
Announcement Date 2/15/22 5/3/22 7/29/22 11/2/22 2/15/23 5/2/23 8/2/23 11/3/23 2/22/24 5/9/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,330 1,356 1,873 1,595 1,507 1,506 1,648 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 9.53% 10% 11.5% 11.3% 8.5% -0.37% 7.31% 9.55%
ROA (Net income/ Total Assets) 2.18% 2.43% 2.89% 3.13% 2.43% -0.68% 1.42% -
Assets 1 1,694 899.5 2,090 951.3 -1,599 -499 2,687 -
Book Value Per Share 2 14.80 14.10 16.00 13.70 11.60 10.30 10.30 10.90
Cash Flow per Share 1.120 0.9600 1.130 - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/20/20 2/18/21 2/15/22 2/15/23 2/22/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ares Commercial Real Estate Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
7
Last Close Price
6.93 USD
Average target price
7.2 USD
Spread / Average Target
+3.90%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Mortgage REITs

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Mortgage REITs
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