Ares commercial real estate corp (ACRE)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Revenue:
Interest income from loans held for investment

118,246

114,784

117,130

119,223

118,834

118,284

112,622

110,811

103,850

97,541

95,829

88,054

84,340

81,963

79,661

79,834

81,917

86,337

84,772

81,790

78,513

70,495

62,962

55,690

46,041

37,600

30,373

21,567

15,040

9,278

0

0

0

Interest expense

62,377

62,583

63,896

65,150

64,443

63,002

60,993

58,440

54,704

51,193

47,743

42,936

39,119

36,856

34,714

34,403

34,689

36,342

36,569

37,477

37,190

33,637

34,368

26,748

20,213

14,973

6,727

5,130

3,604

2,558

0

0

0

Net interest margin

55,869

52,201

53,234

54,073

54,391

55,282

51,629

52,371

49,146

46,348

48,086

45,118

45,221

45,107

44,947

45,431

47,228

49,995

48,203

44,313

41,323

36,858

28,594

28,942

25,828

22,627

23,646

16,437

11,436

6,720

0

0

0

Revenue from real estate owned

28,367

25,058

16,970

10,268

1,911

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

680

0

0

0

-

-

-

-

-

-

-

-

Servicing fees, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

-

-

-

-

-

-

Gains from mortgage banking activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

-

-

-

-

-

-

Provision for loss sharing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

-

-

-

-

-

-

-

-

-

Provision for loss sharing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

-

-

-

-

-

Change in fair value of mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

-

-

-

-

-

-

Mortgage banking revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

-

-

-

-

-

-

Total revenue

84,236

77,259

70,204

64,341

56,302

55,282

0

0

0

-

-

-

-

-

-

-

-

-

-

-

42,217

37,538

42,884

42,265

31,059

22,627

0

0

0

-

-

-

-

Provision for Loan and Lease Losses

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Expenses:
Other interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Management and incentive fees to affiliate

7,562

7,363

7,520

7,513

7,434

7,418

6,851

6,834

6,315

6,569

6,596

6,732

6,416

5,956

5,604

5,265

5,273

5,397

5,168

5,292

5,424

5,440

5,826

5,838

5,003

4,125

3,369

2,301

0

-

0

0

-

Professional fees

2,619

2,194

2,062

2,018

1,941

1,945

1,940

1,792

1,765

1,674

1,694

2,022

2,129

2,228

1,917

1,856

1,733

2,018

1,826

1,844

2,536

2,686

3,370

3,410

2,806

2,447

2,247

1,864

1,695

1,194

0

0

0

Acquisition and investment pursuit costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20

286

2,338

3,459

4,079

0

0

0

-

-

-

-

Compensation and benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

-

-

-

-

-

-

General and administrative expenses

3,936

4,188

4,046

3,893

3,653

3,307

3,237

3,109

2,960

2,828

2,708

2,674

2,720

2,801

1,753

1,761

1,722

2,830

-1,077

662

2,615

3,003

7,757

6,314

4,167

2,430

2,358

1,860

1,730

1,285

0

0

0

General and administrative expenses reimbursed to affiliate

3,418

3,026

3,207

3,246

3,305

3,570

3,640

3,756

3,875

3,899

3,907

3,781

3,492

3,441

3,117

3,097

3,258

3,426

3,126

3,286

3,465

3,400

3,784

3,784

3,647

3,394

3,242

2,550

0

-

0

0

-

Expenses from real estate owned

27,971

22,982

15,643

8,805

1,687

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total expenses

45,506

39,753

32,478

25,475

18,020

16,240

15,668

15,491

14,915

14,970

14,905

15,209

14,757

14,426

7,754

7,342

7,349

13,671

445

7,190

14,656

14,549

27,796

27,164

21,551

16,475

21,534

13,960

10,262

5,763

0

0

0

Changes in fair value of derivatives

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,739

0

0

0

-

-

-

-

Income from continuing operations before gain on acquisition and income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Income (loss) before income taxes

11,613

37,506

37,726

38,866

38,282

39,042

35,193

36,112

33,463

30,610

33,181

29,909

30,464

30,681

31,748

32,644

34,434

36,324

35,732

29,925

27,561

22,989

15,088

19,539

16,083

12,329

0

0

0

-

-

-

-

Income Tax Expense (Benefit)

428

515

376

593

461

446

432

250

191

178

211

318

294

230

793

635

635

-11

1,368

192

272

240

0

0

0

-

0

-

-

-

-

-

-

Less: Net income attributable to non-controlling interests

-

-

-

-

-

-

-

-

-

25

681

1,980

3,268

4,532

6,051

7,083

8,091

9,035

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Preferred dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

102

0

0

0

Accretion of redemption premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-572

0

0

0

Net Income (Loss) Attributable to Parent

11,185

36,991

37,350

38,273

37,821

38,596

34,736

35,837

33,247

30,407

32,970

41,653

44,921

44,868

47,199

39,168

40,450

43,320

41,389

33,781

29,156

24,616

22,379

0

0

-

0

-

-

186

0

0

0

Net income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

30,451

30,463

31,866

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

32,289

39,673

41,653

40,336

41,148

32,085

32,359

34,285

34,309

29,032

26,703

24,396

0

0

0

-

-

-

-

186

0

0

0

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

-0.54

0.33

0.32

0.34

0.30

-

0.35

0.33

-

-

-

-

-

0.29

0.22

0.21

0.19

-

0.22

0.24

-

-

-

-

-

-

-

-

-

-

-

-

-

Diluted earnings per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.42

0.09

-0.01

-

0.10

0.08

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

0.28

0.65

0.31

0.18

0.31

0.33

0.31

0.25

-

-

-

-

-

-

-

-

-

-

-

-

Diluted earnings per common share (in dollars per share)

-

-

0.31

0.34

-

-

0.35

0.33

-

-

-

-

-

0.29

0.22

0.21

0.19

-

0.22

0.24

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic and diluted earnings per common share (in dollars per share)

-

-

-

-

-

-

-

-

0.33

-

0.39

0.24

0.23

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.42

0.09

-0.01

-

0.10

0.08

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

0.27

0.65

0.31

0.18

0.31

0.33

0.31

0.25

-

-

-

-

-

-

-

-

-

-

-

-

Basic and diluted earnings per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.14

0.23

0.17

-

0.25

0.32

0.04

-

-0.06

-0.03

-0.12

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

31,897

28,641

28,634

28,599

28,561

28,554

28,542

28,524

28,495

28,486

28,481

28,475

28,468

28,460

28,428

28,428

28,529

28,525

28,505

28,491

28,484

28,476

28,464

28,453

28,442

28,553

27,976

10,215

9,212

9,310

9,245

6,576

998

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

31,897

28,874

28,867

28,863

28,780

28,710

28,698

28,618

28,598

28,591

28,582

28,546

28,482

28,482

28,513

28,495

28,602

28,610

28,609

28,585

28,584

28,593

28,604

28,590

28,550

28,600

28,027

10,257

9,267

9,448

9,245

6,576

998

Basic and diluted weighted average shares of common stock outstanding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,205

-

-

Dividends declared per share of common stock (in dollars per share)

0.33

-

0.33

0.33

0.33

-

0.29

0.28

0.28

-

0.27

0.27

0.27

-

0.26

0.26

0.26

-

0.25

0.25

0.25

-

0.25

0.25

0.25

-

0.25

0.25

0.25

-

0.06

0.06

0.30