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ACRE logoAres Commercial Real Estate Corporation(ACRE)Earnings, Financials & Key Ratios

ACRE•NYSE•REIT / Real Estate
$5.22
$287M mkt cap·Price updated May 6, 2026
SectorReal EstateIndustryMortgage REITsSub-IndustryCommercial mortgage loan REITs
AboutAres Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate (CRE) loans and related investments in the United States. The company provides a range of financing solutions for the owners, operators, and sponsors of CRE properties. It originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments, including commercial mortgage backed securities. The company has elected and qualified to be taxed as a real estate investment trust for the United States federal income tax purposes under the Internal Revenue Code of 1986. Ares Commercial Real Estate Management LLC operates as the manager of the company. The company was incorporated in 2011 and is based in New York, New York.Show more
  • Revenue$85M-2.8%
  • FFO$8M+125.3%
  • FFO/Share0.14+125.1%
  • FFO Payout520.15%+358.0%
  • FFO per Share0.14+125.1%
  • NOI Margin67.2%-32.8%
  • FFO Margin8.79%+126.1%
  • ROE-0.17%+97.1%
  • ROA-0.05%+96.9%
  • Debt/Assets64.73%-3.3%
  • Net Debt/EBITDA-0.42-102.4%
  • Book Value/Share9.28-6.4%
Technical→

ACRE Key Insights

Ares Commercial Real Estate Corporation (ACRE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓FFO growing 124.8% TTM
  • ✓High NOI margin of 67.2%
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗High debt to equity ratio of 2.1x
  • ✗Dividend exceeds FFO - may not be sustainable

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

ACRE Price & Volume

Ares Commercial Real Estate Corporation (ACRE) stock price & volume — 10-year historical chart

Loading chart...

ACRE Growth Metrics

Ares Commercial Real Estate Corporation (ACRE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years0.12%
5 Years1.64%
3 Years-7.84%
TTM468.97%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM97.42%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM97.45%

Return on Capital

10 Years3.52%
5 Years2.57%
3 Years2.53%
Last Year5.17%

ACRE Recent Earnings

Ares Commercial Real Estate Corporation (ACRE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 6/12 qtrs (50%)
Q1 2026Latest
Feb 10, 2026
EPS
$0.15
Est $0.01
+1400.0%
Revenue
$13M
Est $12M
+12.4%
Q4 2025
Nov 7, 2025
EPS
$0.10
Est $0.09
+211.1%
Revenue
$16M
Est $11M
+43.2%
Q3 2025
Aug 5, 2025
EPS
$0.51
Est $0.02
-2450.0%
Revenue
$4M
Est $11M
-138.2%
Q2 2025
May 7, 2025
EPS
$0.13
Est $0.07
+285.7%
Revenue
$15M
Est $15M
-0.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 10, 2026
$0.15vs $0.01+1400.0%
$13Mvs $12M+12.4%
Q4 2025Nov 7, 2025
$0.10vs $0.09+211.1%
$16Mvs $11M+43.2%
Q3 2025Aug 5, 2025
$0.51vs $0.02-2450.0%
$4Mvs $11M-138.2%
Q2 2025May 7, 2025
$0.13vs $0.07+285.7%
$15Mvs $15M-0.3%
Based on last 12 quarters of dataView full earnings history →

ACRE Peer Comparison

Ares Commercial Real Estate Corporation (ACRE) competitors in Commercial mortgage loan REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
BXMT logoBXMTBlackstone Mortgage Trust, Inc.Direct Competitor3.25B19.2930.14-13.96%6.75%2.93%4.61
RC logoRCReady Capital CorporationDirect Competitor330.14M2.04-0.78-92.98%-16.58%3.12
TRTX logoTRTXTPG RE Finance Trust, Inc.Direct Competitor664.08M8.5915.07123.25%23.2%5.7%3.08
GPMT logoGPMTGranite Point Mortgage Trust Inc.Direct Competitor70.87M1.49-1.28187.77%-30.49%-7.1%2.12
KREF logoKREFKKR Real Estate Finance Trust Inc.Direct Competitor422.45M6.57-6.26-22.72%-23.56%-8.4%3.83
BRSP logoBRSPBrightSpire Capital, Inc.Direct Competitor775.15M5.95-22.88-4.5%-9.47%-3.34%2.68
ARI logoARIApollo Commercial Real Estate Finance, Inc.Direct Competitor1.45B10.9513.521.28%17.9%6.88%4.27
LADR logoLADRLadder Capital CorpProduct Competitor1.31B10.2920.18-23.26%16.52%4.29%2.37

Compare ACRE vs Peers

Ares Commercial Real Estate Corporation (ACRE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BXMT

Most directly comparable listed peer for ACRE.

Scale Benchmark

vs BX

Larger-name benchmark to compare ACRE against a more recognizable public peer.

Peer Set

Compare Top 5

vs BXMT, RC, TRTX, GPMT

ACRE Income Statement

Ares Commercial Real Estate Corporation (ACRE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue46.35M55.28M77.26M78.69M102.07M109.05M1.1M87.8M85.35M
Revenue Growth %2.75%19.28%39.75%1.85%29.71%6.84%-98.99%7874.75%-2.79%
Property Operating Expenses6.57M7.42M0018.56M00027.99M
Net Operating Income (NOI)
39.78M▲ 0%
47.86M▲ 20.3%
77.26M▲ 61.4%
78.69M▲ 1.8%
83.51M▲ 6.1%
109.05M▲ 30.6%
1.1M▼ 99.0%
87.8M▲ 7874.8%
57.35M▼ 34.7%
NOI Margin %85.83%86.58%100%100%81.82%100%100%100%67.2%
Operating Expenses6.73M6.88M77.26M78.69M-40.89M109.05M26M24.97M22.95M
G&A Expenses6.73M6.88M7.21M7.38M7.76M10.17M26M24.97M9.8M
EBITDA96.59M181.29M00100.4M0-24.89M62.84M70.19M
EBITDA Margin %208.41%327.93%0%0%98.37%0%-2261.04%71.57%82.24%
Depreciation & Amortization66.16M79.24M667K892K39.22M0008.4M
D&A / Revenue %142.75%143.34%0.86%1.13%38.43%0%0%0%9.84%
Operating Income
30.43M▲ 0%
102.04M▲ 235.3%
0▼ 100.0%
0▲ 0%
61.18M▲ 0%
0▼ 100.0%
-24.89M▲ 0%
62.84M▲ 352.4%
61.78M▼ 1.7%
Operating Margin %65.66%184.59%0%0%59.94%0%-2261.04%71.57%72.39%
Interest Expense51.19M63M62.58M51.95M50.08M65.99M117.2M105.98M65.16M
Interest Coverage0.59x1.62x--1.22x--0.21x0.59x0.95x
Non-Operating Income-946K-446K667K892K-34.93M0-24.89M62.84M0
Pretax Income
30.61M▲ 0%
39.04M▲ 27.5%
37.51M▼ 3.9%
22.19M▼ 40.8%
61.18M▲ 175.7%
30.26M▼ 50.5%
38.91M▲ 28.6%
35.01M▼ 10.0%
-617K▼ 101.8%
Pretax Margin %66.04%70.62%48.55%28.2%59.94%27.75%3533.7%39.87%-0.72%
Income Tax178K446K515K352K722K472K39K18K285K
Effective Tax Rate %0.58%1.14%1.37%1.59%1.18%1.56%0.1%0.05%-46.19%
Net Income
30.41M▲ 0%
38.6M▲ 26.9%
36.99M▼ 4.2%
21.84M▼ 41.0%
60.46M▲ 176.8%
29.79M▼ 50.7%
-38.87M▼ 230.5%
-34.99M▲ 10.0%
-902K▲ 97.4%
Net Margin %65.61%69.82%47.88%27.76%59.23%27.31%-3530.15%-39.85%-1.06%
Net Income Growth %-24.62%26.93%-4.16%-40.96%176.83%-50.74%-230.49%9.97%97.42%
Funds From Operations (FFO)
96.57M▲ 0%
117.84M▲ 22.0%
37.66M▼ 68.0%
22.73M▼ 39.6%
99.68M▲ 338.5%
29.79M▼ 70.1%
-38.87M▼ 230.5%
-29.59M▲ 23.9%
7.5M▲ 125.3%
FFO Margin %208.36%213.16%48.74%28.89%97.66%27.31%-3530.15%-33.7%8.79%
FFO Growth %5.41%22.02%-68.04%-39.64%338.51%---125.35%
FFO per Share3.384.111.310.682.340.57-0.72-0.540.14
FFO Payout Ratio %31.62%27.23%99.55%188.13%58.61%241.08%-186.91%-201.58%520.15%
EPS (Diluted)
1.07▲ 0%
1.35▲ 26.2%
1.28▼ 5.2%
0.66▼ 48.4%
1.42▲ 115.2%
0.57▼ 59.9%
-0.72▼ 226.3%
-0.64▲ 11.1%
-0.02▲ 97.4%
EPS Growth %-24.11%26.17%-5.19%-48.44%115.15%-59.86%-226.32%11.11%97.44%
EPS (Basic)1.071.351.290.661.430.58-0.72-0.64-0.02
Diluted Shares Outstanding28.55M28.66M28.85M33.2M42.68M52.13M54.28M54.45M54.89M

ACRE Balance Sheet

Ares Commercial Real Estate Corporation (ACRE) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets1.77B1.6B1.78B1.93B2.63B2.52B2.28B1.75B1.62B
Asset Growth %28.86%-9.43%11.28%8.15%36.4%-4.14%-9.64%-23.19%-7.6%
Real Estate & Other Assets0015.69M8.21M0-27.94M-28.06M8.63M0
PP&E (Net)0037.9M37.28M000115.32M0
Investment Securities000001000K1000K1000K0
Total Current Assets001.73B1.88B0001.59B47.06M
Cash & Equivalents28.34M11.09M5.26M74.78M50.62M141.28M110.46M63.8M29.29M
Receivables945K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets-945K-52.42M42.79M17.61M-181.8M-301.69M-174.21M10.6M0
Intangible Assets000000023.71M0
Total Liabilities1.35B1.18B1.36B1.46B1.95B1.78B1.65B1.21B1.11B
Total Debt378.81M379.08M1.34B1.43B1.9B1.74B1.62B1.17B1.05B
Net Debt350.46M367.99M1.33B1.36B1.85B1.6B1.51B1.11B-29.29M
Long-Term Debt1.34B415.36M624.49M1.15B1.08B1.03B1.62B812.63M458.55M
Short-Term Borrowings744.51M36.28M711.13M277.51M819.4M705.23M0359.74M588.91M
Capital Lease Obligations000000000
Total Current Liabilities744.92M541K724.16M292.17M0024.62M378.76M601.67M
Accounts Payable414K541K00570K1.91M2.26M0257K
Deferred Revenue-10.76M-48.9M0000000
Other Liabilities-1.34B-415.36M9.15M10.77M-1.08B-1.03B12.32M19.68M1.11B
Total Equity
1.73B▲ 0%
1.57B▼ 9.0%
426.34M▼ 72.9%
473.01M▲ 10.9%
678.63M▲ 43.5%
747.54M▲ 10.2%
625.85M▼ 16.3%
540.13M▼ 13.7%
509.57M▼ 5.7%
Equity Growth %301.98%-9.03%-72.87%10.95%43.47%10.15%-16.28%-13.7%-5.66%
Shareholders Equity419.17M425.59M426.34M473.01M678.63M747.54M625.85M540.13M509.57M
Minority Interest1.31B1.15B0000000
Common Stock283K283K283K329K465K537K532K532K532K
Additional Paid-in Capital420.64M421.74M423.62M497.8M703.95M812.79M812.18M816.92M820.83M
Retained Earnings-1.75M3.56M2.44M-25.12M-28.63M-73.33M-187.02M-277.36M-311.79M
Preferred Stock03.56M0000000
Return on Assets (ROA)1.93%2.29%2.18%1.18%2.65%1.16%-1.62%-1.74%-0.05%
Return on Equity (ROE)2.82%2.34%3.7%4.86%10.5%4.18%-5.66%-6%-0.17%
Debt / Assets21.4%23.64%74.86%74.17%72.29%68.83%70.93%66.95%64.73%
Debt / Equity0.22x0.24x3.13x3.03x2.80x2.32x2.58x2.17x2.06x
Net Debt / EBITDA3.63x2.03x--18.44x--17.64x-0.42x
Book Value per Share60.5054.8314.7814.2515.9014.3411.539.929.28

ACRE Cash Flow Statement

Ares Commercial Real Estate Corporation (ACRE) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations31.27M39.22M32.45M31.76M48.35M57.16M46.79M35.55M21.35M
Operating CF Growth %266.27%25.41%-17.25%-2.13%52.23%18.22%-18.14%-24.02%-39.93%
Operating CF / Revenue %67.47%70.94%42%40.36%47.37%52.42%4249.68%40.49%25.02%
Net Income30.43M38.6M36.99M21.84M60.46M29.79M-38.87M-34.99M-902K
Depreciation & Amortization7.61M5.72M667K892K9.89M005.41M4.63M
Stock-Based Compensation581K1.1M1.88M1.34M1.94M2.88M3.99M4.74M3.9M
Other Non-Cash Items1.03M-1.23M223K-104K2.3M39.58M101.18M66.15M18.25M
Working Capital Changes-1.54M749K-6.64M-15.51M-16.35M-15.09M-19.51M-5.76M-4.53M
Cash from Investing-405.77M157.92M-174.43M-81.87M-699.68M193.17M127.46M427.91M148.14M
Acquisitions (Net)000000000
Purchase of Investments00-1.69M-274K-150K-27.87M000
Sale of Investments12K00001000K000
Other Investing-405.77M157.92M-171.05M-81.32M-699.39M218.96M127.46M427.91M148.14M
Cash from Financing355.57M-214.4M136.14M119.25M627.17M-159.67M-205.07M-507.63M-168.63M
Dividends Paid-30.53M-32.09M-37.49M-42.77M-58.42M-71.81M-75.95M-59.64M-39.01M
Common Dividends-30.53M-32.09M-37.49M-42.77M-58.42M-71.81M-72.65M-59.64M-39.01M
Debt Issuance (Net)1000K-1000K1000K1000K1000K-1000K-1000K-1000K-1000K
Share Repurchases000000-4.6M00
Other Financing-19.07M-2.32M-5.82M-5.37M-13.39M-4.63M-4.05M-3.74M0
Net Change in Cash
-18.93M▲ 0%
-17.25M▲ 8.8%
-5.83M▲ 66.2%
69.14M▲ 1285.3%
-24.16M▼ 134.9%
90.66M▲ 475.2%
-30.82M▼ 134.0%
-44.16M▼ 43.3%
863K▲ 102.0%
Exchange Rate Effect000000000
Cash at Beginning47.27M28.72M11.47M5.63M74.78M50.62M141.28M110.46M66.29M
Cash at End28.34M11.47M5.63M74.78M50.62M141.28M110.46M66.29M67.16M
Free Cash Flow
31.27M▲ 0%
39.22M▲ 25.4%
30.77M▼ 21.6%
31.49M▲ 2.3%
48.21M▲ 53.1%
57.16M▲ 18.6%
46.79M▼ 18.1%
35.55M▼ 24.0%
21.35M▼ 39.9%
FCF Growth %282.11%25.41%-21.55%2.35%53.09%18.57%-18.14%-24.02%-39.93%
FCF / Revenue %67.47%70.94%39.82%40.02%47.23%52.42%4249.68%40.49%25.02%

ACRE Key Ratios

Ares Commercial Real Estate Corporation (ACRE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
FFO per Share3.213.384.111.310.682.340.57-0.72-0.540.14
FFO Payout Ratio32.09%31.62%27.23%99.55%188.13%58.61%241.08%-186.91%-201.58%520.15%
NOI Margin86.43%85.83%86.58%100%100%81.82%100%100%100%67.2%
Net Debt / EBITDA1.26x3.63x2.03x--18.44x--17.64x-0.42x
Debt / Assets10.91%21.4%23.64%74.86%74.17%72.29%68.83%70.93%66.95%64.73%
Interest Coverage0.83x0.59x1.62x--1.22x--0.21x0.59x0.95x
Book Value / Share15.0660.554.8314.7814.2515.914.3411.539.929.28
Revenue Growth-46.5%2.75%19.28%39.75%1.85%29.71%6.84%-98.99%7874.75%-2.79%

ACRE SEC Filings & Documents

Ares Commercial Real Estate Corporation (ACRE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 30, 2026·SEC

Material company update

Mar 16, 2026·SEC

Material company update

Feb 10, 2026·SEC

10-K Annual Reports

5
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 12, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 5, 2025·SEC

FY 2025

May 7, 2025·SEC

ACRE Frequently Asked Questions

Ares Commercial Real Estate Corporation (ACRE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Ares Commercial Real Estate Corporation (ACRE) reported $56.2M in revenue for fiscal year 2025. This represents a 749% increase from $6.6M in 2012.

Ares Commercial Real Estate Corporation (ACRE) saw revenue decline by 2.8% over the past year.

Ares Commercial Real Estate Corporation (ACRE) reported a net loss of $0.9M for fiscal year 2025.

Dividend & Returns

Yes, Ares Commercial Real Estate Corporation (ACRE) pays a dividend with a yield of 13.62%. This makes it attractive for income-focused investors.

Ares Commercial Real Estate Corporation (ACRE) has a return on equity (ROE) of -0.2%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Ares Commercial Real Estate Corporation (ACRE) generated Funds From Operations (FFO) of $7.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Ares Commercial Real Estate Corporation (ACRE) offers a 13.62% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More ACRE

Ares Commercial Real Estate Corporation (ACRE) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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