Ares Commercial Real Estate: Q4 Earnings Snapshot

NEW YORK (AP) – Ares Commercial Real Estate Corp. (ACRE) on Tuesday reported fourth-quarter net income of $17.2 million.

The New York-based company said it had profit of 36 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 41 cents per share.

The real estate investment trust posted revenue of $30.1 million in the period. Its adjusted revenue was $38 million.

For the year, the company reported profit of $60.5 million, or $1.42 per share. Revenue was reported as $133.6 million.

Ares Commercial Real Estate shares have dropped 3% since the beginning of the year. The stock has climbed nearly 8% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACRE at https://www.zacks.com/ap/ACRE