Ares Commercial Real Estate Corporation (ACRE) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
245 PARK AVENUE NEW YORK, NY 10167 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 61,017 | 142,603 | 153,764 | 141,278 | 77,297 | 25,625 | |||
| Cash and cash equivalents | 61,017 | 142,603 | 153,764 | 141,278 | 77,297 | 25,625 | |||
| Receivables | (112,432) | (108,114) | (87,502) | (65,969) | (46,060) | (27,613) | |||
| Total current assets: | (51,415) | 34,489 | 66,262 | 75,309 | 31,237 | (1,988) | |||
| Noncurrent Assets | |||||||||
| Other undisclosed assets | 2,414,591 | 2,365,522 | 2,378,058 | 2,447,693 | 2,695,949 | 2,698,322 | |||
| TOTAL ASSETS: | 2,363,176 | 2,400,011 | 2,444,320 | 2,523,002 | 2,727,186 | 2,696,334 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 1,680,218 | 1,708,820 | 1,726,017 | 1,775,462 | 1,960,109 | 1,910,334 | |||
| Total liabilities: | 1,680,218 | 1,708,820 | 1,726,017 | 1,775,462 | 1,960,109 | 1,910,334 | |||
| Equity | |||||||||
| Equity, attributable to parent | 682,958 | 691,191 | 718,303 | 747,540 | 767,077 | 786,000 | |||
| Common stock | 532 | 532 | 537 | 537 | 537 | 537 | |||
| Additional paid in capital | 811,147 | 810,161 | 813,748 | 812,788 | 812,050 | 811,411 | |||
| Accumulated other comprehensive income | 666 | 987 | 3,129 | 7,541 | 11,379 | 12,389 | |||
| Accumulated deficit | (129,387) | (120,489) | (99,111) | (73,326) | (56,889) | (38,337) | |||
| Total equity: | 682,958 | 691,191 | 718,303 | 747,540 | 767,077 | 786,000 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,363,176 | 2,400,011 | 2,444,320 | 2,523,002 | 2,727,186 | 2,696,334 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 23,883 | 24,990 | 26,501 | 30,409 | 27,271 | 25,146 | ||
| Net investment income | 52,819 | 51,941 | 49,500 | 52,552 | 45,633 | 38,621 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (21,019) | (19,402) | ||||||
| Gross profit: | 23,883 | 24,990 | 5,482 | 11,007 | 27,271 | 25,146 | ||
| Operating expenses | (1,691) | (2,038) | (1,685) | (1,777) | (1,416) | (1,587) | ||
| Operating income (loss): | 22,192 | 22,952 | 3,797 | 9,230 | 25,855 | 23,559 | ||
| Interest and debt expense | (29,745) | (26,951) | (22,999) | (22,143) | (18,362) | (13,475) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (7,553) | (3,999) | (19,202) | (12,913) | 7,493 | 10,084 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 16,721 | 1,755 | 12,873 | 16,087 | (6,844) | 45 | ||
| Income (loss) from continuing operations before income taxes: | 9,168 | (2,244) | (6,329) | 3,174 | 649 | 10,129 | ||
| Income tax expense (benefit) | 16 | 46 | (110) | (264) | (5) | (98) | ||
| Income (loss) from continuing operations: | 9,184 | (2,198) | (6,439) | 2,910 | 644 | 10,031 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | 644 | 10,031 | |
| Net income (loss) available to common stockholders, diluted: | 9,184 | (2,198) | (6,439) | 2,910 | 644 | 10,031 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 9,184 | (2,198) | (6,439) | 2,910 | 644 | 10,031 | ||
| Comprehensive income (loss): | 9,184 | (2,198) | (6,439) | 2,910 | 644 | 10,031 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (321) | (2,142) | (4,412) | (3,838) | (1,010) | 1,931 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 8,863 | (4,340) | (10,851) | (928) | (366) | 11,962 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.