Ares Commercial Real Estate: Q3 Earnings Snapshot

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Nov. 3, 2021Updated: Nov. 3, 2021 5:15 a.m.

NEW YORK (AP) _ Ares Commercial Real Estate Corp. (ACRE) on Wednesday reported third-quarter profit of $10 million.

On a per-share basis, the New York-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 37 cents per share.

The real estate investment trust posted revenue of $27.2 million in the period. Its adjusted revenue was $34 million.

Ares Commercial Real Estate shares have increased 31% since the beginning of the year. The stock has risen 60% in the last 12 months.

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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