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Ares mercial Real Estate (ACRE) - 2019 Q3 - Quarterly Report
2019-11-08 00:48
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________ FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-35517 ARES COMMERCIAL REAL ESTATE CORPORATION (Exact name ...
Ares mercial Real Estate (ACRE) - 2019 Q2 - Earnings Call Transcript
2019-07-26 19:45
Financial Data and Key Metrics Changes - The company reported core earnings per share of $0.38, a 9% increase from Q2 2018 [6] - GAAP net income for Q2 2019 was $9.8 million or $0.34 per common share [11] - Total loan fundings for Q2 were $129 million, with year-to-date commitments at $333 million [6][11] Business Line Data and Key Metrics Changes - New loan commitments for Q2 totaled $99 million, with total loan fundings bringing year-to-date fundings to $250 million [6][11] - The loan portfolio included 45 loans with an outstanding principal balance of $1.5 billion, maintaining favorable credit quality with no impairments [12] Market Data and Key Metrics Changes - U.S. real estate fundamentals are reported to remain healthy, with consistent property demand and controlled supply in targeted markets [7] - The company closed less than 5% of the transactions reviewed in the first half of 2019, indicating a selective approach to investments [7] Company Strategy and Development Direction - The company is focused on expanding its geographic footprint into markets with strong growth dynamics and less competition [8] - The management emphasizes maintaining high credit quality and originating loans within targeted return ranges [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline for the second half of the year, with a strong volume of executed term sheets [21] - The company anticipates a pickup in repayment activity in the second half of the year, with total repayments expected to be at the higher end of the previously provided range of $400 million to $700 million [15][40] Other Important Information - The company declared a third-quarter dividend of $0.33 per share, representing an annualized yield of 8.8% based on the closing price [15] - The weighted average LIBOR floor for 92% of loans with such floors is 1.6%, providing protection against rate decreases [12] Q&A Session Summary Question: Can the company return to a portfolio size of $1.7 billion to $1.8 billion given the repayments? - Management indicated that while the portfolio balance at the end of the quarter was lower, the earning power during the quarter was higher than the reported balance [20][22] Question: What are the thoughts on monetizing the REO loan? - Management expressed satisfaction with the asset's performance and indicated that they are working on enhancing returns before considering a sale [27][29] Question: Is there potential for common equity issuance? - Management stated that any equity issuance would need to be non-dilutive and based on clear near-term opportunities for reinvestment [34] Question: What is the outlook for originations and repayments? - Management expects a strong second half with good visibility into significant loans, and clarified that repayments are anticipated to be in the range of $550 million to $700 million [40][44] Question: What is the seasonality of revenue for the Westchester Marriott hotel? - Management noted that the hotel experiences typical suburban business seasonality, with the third quarter expected to be the weakest [57] Question: Can the company quantify the benefit from prepayment income generated in the quarter? - Management indicated that the second quarter saw a $0.03 per share impact from accelerated fees, above the average [64]
Ares mercial Real Estate (ACRE) - 2019 Q2 - Quarterly Report
2019-07-26 00:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________ FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-35517 ARES COMMERCIAL REAL ESTATE CORPORATION (Exact name of Re ...
Ares mercial Real Estate (ACRE) - 2019 Q1 - Earnings Call Transcript
2019-05-01 20:06
Ares Commercial Real Estate Corporation (NYSE:ACRE) Q1 2019 Earnings Conference Call May 1, 2019 11:00 AM ET Company Participants Veronica Mendiola Mayer - Investor Relations. Jamie Henderson - Chief Executive Officer Tae-Sik Yoon - Chief Financial Officer David Roth - Head of U.S. Real Estate Private Equity Conference Call Participants Steve Delaney - JMP Securities Doug Harter - Credit Suisse Jade Rahmani - KBW Ryan Tomasello - KBW Rick Shane - JPMorgan Operator Good morning, and welcome to the Ares Comm ...
Ares mercial Real Estate (ACRE) - 2019 Q1 - Quarterly Report
2019-05-01 10:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________ FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-35517 ARES COMMERCIAL REAL ESTATE CORPORATION (Exact name of R ...
Ares mercial Real Estate (ACRE) - 2018 Q4 - Earnings Call Transcript
2019-02-22 01:00
Ares Commercial Real Estate Corporation. (NYSE:ACRE) Q4 2018 Results Earnings Conference Call February 21, 2019 11:00 AM ET Company Participants Veronica Mayer - Investor Relations Jamie Henderson - Chief Executive Officer Tae-Sik Yoon - Chief Financial Officer Carl Drake - Investor Relations Conference Call Participants Steve Delaney - JMP Securities Stephen Laws - Raymond James Jade Rahmani - KBW Ken Bruce - Bank of America Merrill Lynch. Doug Harter - Credit Suisse Benjamin Zucker - BTIG Operator Welcome ...
Ares mercial Real Estate (ACRE) - 2018 Q4 - Annual Report
2019-02-21 11:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-35517 ____________________________________________________ ...