Ares Commercial Real Estate Corporation reported a GAAP net loss of $(10.7) million, or $(0.20) per diluted common share, for the fourth quarter of 2024. The full-year 2024 GAAP net loss was $(35.0) million, or $(0.64) per diluted common share, reflecting ongoing challenges in the commercial real estate market.
Distributable Earnings for Q4 2024 were a loss of $(8.3) million, or $(0.15) per diluted common share, with a full-year loss of $(44.6) million, or $(0.82) per diluted common share. In response to these earnings and to support balance sheet flexibility, the Board of Directors declared a regular cash dividend of $0.15 per common share for the first quarter of 2025, a 40% reduction from the previous $0.25 per share.
The company collected $166 million in loan repayments subsequent to year-end 2024, bolstering available capital to over $200 million as of February 10, 2025. Ares Commercial Real Estate also reduced its risk-rated 4 and 5 loans by 34% year-over-year, demonstrating continued progress in de-risking its portfolio and focusing on asset resolution.
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