NEW YORK (AP) — NEW YORK (AP) — Ares Commercial Real Estate Corp. (ACRE) on Friday reported third-quarter net income of $4.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.
The real estate investment trust posted revenue of $14.1 million in the period. Its adjusted revenue was $23.3 million.
The company’s shares closed at $4.49. A year ago, they were trading at $6.49.
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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
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