Ares commercial real estate corp (ACRE)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Revenue:
Interest income from loans held for investment

114,784

118,284

97,541

81,963

86,337

70,495

37,600

9,278

Interest expense

62,583

63,002

51,193

36,856

36,342

33,637

14,973

2,558

Net interest margin

52,201

55,282

46,348

45,107

49,995

36,858

22,627

6,720

Revenue from real estate owned

25,058

0

0

-

-

-

-

-

Gain on sale of loans

-

-

-

-

-

680

-

-

Total revenue

77,259

55,282

46,348

-

-

37,538

22,627

6,720

Expenses:
Management and incentive fees to affiliate

7,363

7,418

6,569

5,956

5,397

5,440

4,125

1,665

Professional fees

2,194

1,945

1,674

2,228

2,018

2,686

2,447

1,194

Acquisition and investment pursuit costs

-

-

-

-

-

20

4,079

-

General and administrative expenses

4,188

3,307

2,828

2,801

2,830

3,003

2,430

1,285

General and administrative expenses reimbursed to affiliate

3,026

3,570

3,899

3,441

3,426

3,400

3,394

1,619

Expenses from real estate owned

22,982

0

0

-

-

-

-

-

Total expenses

39,753

16,240

14,970

14,426

13,671

14,549

16,475

5,763

Early extinguishment of debt costs

0

0

-768

0

0

-

-

-

Changes in fair value of derivatives

-

-

-

-

-

-

1,739

-97

Income from continuing operations before gain on acquisition and income taxes

-

-

-

-

-

-

7,891

860

Gain on acquisition

-

-

-

-

-

-

4,438

-

Income (loss) before income taxes

37,506

39,042

30,610

30,681

36,324

22,989

12,329

860

Income Tax Expense (Benefit)

515

446

178

230

-11

240

-

-

Less: Net income attributable to non-controlling interests

0

0

25

4,532

9,035

220

-

-

Preferred dividends

-

-

-

-

-

-

-

102

Accretion of redemption premium

-

-

-

-

-

-

-

-572

Net Income (Loss) Attributable to Parent

36,991

38,596

30,407

44,868

43,320

24,616

13,766

186

Net income from continuing operations

-

-

-

30,451

36,335

22,749

12,329

-

Net income from operations of discontinued operations, net of income taxes

-

-

-

4,221

6,985

1,867

1,437

-

Gain on sale of discontinued operations

-

-

-

10,196

0

0

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

36,991

38,596

30,432

-

-

-

-

860

Earnings Per Share [Abstract]
Net income attributable to common stockholders

-

-

-

40,336

34,285

24,396

13,766

186

Earnings per common share:
Basic earnings per common share (in dollars per share)

1.29

1.35

1.07

0.91

0.96

0.79

0.65

-

Diluted earnings per common share (in dollars per share)

1.28

1.35

1.07

0.51

0.25

0.07

0.08

-

Net income (in dollars per share)

-

-

-

1.42

1.20

0.86

0.72

0.03

Diluted earnings per common share (in dollars per share)

-

-

-

0.91

0.95

0.79

0.65

-

Weighted average number of common shares outstanding:
Discontinued operations (in dollars per share)

-

-

-

0.51

0.24

0.07

0.08

-

Net income (in dollars per share)

-

-

-

1.41

1.20

0.85

0.72

0.03

Weighted average number of common shares outstanding:
Basic weighted average shares of common stock outstanding (in shares)

28,609

28,529

28,478

28,461

28,501

28,459

18,989

6,532

Diluted weighted average shares of common stock outstanding (in shares)

28,846

28,656

28,550

28,523

28,597

28,585

19,038

6,567