Profit includes an office-property disposal
Ares Commercial Real Estate reported third-quarter net income attributable to common stockholders of $10.0 million, or $0.18 per diluted share. The November 6 release compares that with $4.7 million, or $0.08 a share, a year earlier.
The quarter included a $7.1 million realized gain on the sale of real estate owned. Management said reducing office and owned-property investments remains a priority, while it continues working on higher-risk loans. The sale gain is part of reported earnings, rather than recurring interest income.
Distributable earnings and dividend differ
The company reported $6.7 million in distributable earnings, or $0.12 per diluted share. This is its adjusted, non-GAAP measure and is separate from the $10.0 million GAAP profit. Its release includes the reconciliation.
The board declared a fourth-quarter dividend of $0.15 per common share, payable January 15, 2027, to holders of record on December 31, 2026. That declared amount exceeds this quarter’s $0.12 distributable-earnings figure; neither the comparison nor the declaration guarantees future dividends.
Repayment took place after quarter-end
Ares CRE also said it fully repaid and terminated a $90 million secured term loan after September 30. This subsequent event is separate from the quarter-end balance sheet, which still records that borrowing.
The company originates and invests in commercial-property loans, with an emphasis on markets across the United States. Its planned November 6 results call is a further discussion of the report, not a new reporting period.
