Today, 7:47 AM
Tue, Sep. 13, 7:36 AM
- The company announces $135M in floating rate senior loan commitments to finance two apartment properties totaling more than 1K units in Orlando. With the closing of these loans ACRE has originated more than $290M of multifamily and office loan commitments in Q3.
- Co-CEO John Jardine: "Market conditions remain favorable, and we continue to execute upon our strong pipeline of attractive investment opportunities.”
Thu, Aug. 4, 6:39 AM
Wed, Aug. 3, 5:30 PM
- AAC, AAON, ACRE, ACTA, AGCO, AGIO, AKRX, ALSK, AMCX, AME, AMRN, ANIP, ANSS, APA, APLP, ARRY, AYR, BBW, BCE, BCRX, BDX, BLL, CBB, CCOI, CHD, CHK, CNNX, CNSL, COT, CPK, CRIS, CRZO, CTB, DNR, DUK, DW, ELOS, EPAM, ESNT, EVA, FMSA, GLDD, GLOG, GOGO, GTN, HAR, HGG, HII, HL, HMHC, HRC, HSC, HSIC, HSNI, ICPT, IMGN, IOC, IPCC, IRM, IT, ITCI, ITT, K, KOP, LBY, LFUS, LGND, LIOX, LPX, LQDT, LXRX, MFC, MGM, MGP, MITL, MMS, MNTA, MPEL, MPG, MPW, NAO, NERV, NGS, NOK, NSAM, NXTM, OGE, OMAM, OMF, ORBC, PBH, PCRX, PGNX, PGTI, PH, PLUG, PPP, PRFT, PRIM, PRTY, PWR, QSR, RDUS, REGN, RFP, RGEN, RLGY, ROLL, RVLT, RWLK, SBH, SEAS, SFM, SGM, SHLX, SNR, SPAR, SPH, SRE, SSTK, SSYS, STFC, STOR, STWD, TDY, TEVA, THS, TICC, TIME, TK, TNK, TOO, TSEM, TVPT, TWI, UAM, UNT, USAC, USCR, VIAB, VLP, VWR, WIN, WPC, WRK, XLRN
Thu, Jul. 7, 4:42 PM
- The size of the company's financing facility with Wells Fargo is boosted to $325M from $225M. The maturity is also extended to Dec. 2017, along with the option for two one-year extensions.
- ACRE over the past year has increased, renewed, or extended six of its funding facilities totaling more than $695M. Plus, there was a $155M secured term loan facility closed in December. As of June 30, the company's secured funding facilities and term loan agreements totaled more than $1.2B, up about $200M from a year earlier.
Fri, May 6, 12:55 AM
Thu, May 5, 6:35 AM
Wed, May 4, 5:30 PM
- AAC, AAON, AAWW, ABC, ACIW, ACRE, ACTA, AGIO, AMCX, AMRC, AMRN, ANIP, ANSS, APA, APO, AVP, AXLL, BABA, BCRX, BDX, BR, CBB, CCC, CCOI, CDK, CHD, CHK, CLDT, CNAT, CNNX, CNSL, COT, CVC, CWEI, DDD, DIN, DISCA, DNR, EAC, ENOC, EPAM, ESNT, EVA, FIG, FLDM, G, GCAP, GWPH, HII, HL, HWCC, ICON, IT, ITG, ITT, JEC, JMBA, K, LAMR, LFUS, LINC, LIOX, LMOS, LQDT, LXP, MBLY, MDC, MFC, MGA, MGLN, MGM, MITL, MLM, MMS, MRK, MWW, NICE, NILE, NRG, NTCT, NYLD, OGE, ONE, OXY, PGNX, PGTI, PRFT, PRIM, PWR, RDEN, RDUS, REGN, RFP, RGEN, RLGY, RSTI, RWLK, SBH, SEAS, SFM, SHLX, SNH, SNI, SNR, SNSS, SPH, SQBG, STOR, TDC, TDY, TE, THS, TIME, TLP, TWI, UNT, USAC, USAK, USCR, VER, VG, VLP, WIN, WPC, WRLD
Tue, Mar. 1, 6:34 AM
- Ares Commercial Real Estate (NYSE:ACRE): Q4 EPS of $0.31 beats by $0.04.
- Revenue of $20.92M (+0.6% Y/Y) misses by $0.04M.
Mon, Feb. 29, 5:30 PM
Tue, Jan. 26, 10:58 AM
- Mortgage REIT valuations "appear untethered from traditional metrics," says the JPMorgan team, led by Richard Shane, in its upgrade of MFA Financial (MFA +2.2%). Not upgraded today, but also with Overweight ratings are American Capital Agency (AGNC +1.3%), Apollo Residential Mortgage (AMTG +1%), and Ares Commercial Real Estate (ACRE +1.3%).
- With earnings season for mREITs kicking off next week, Shane and team see book values getting nicked by the Fed rate hike and flattening yield curve.
- As for this year's FHLB rule change which could limit mREIT's access to that source of funding, Shane concludes the names he's following should be fine. He notes ACRE, AMTG, Blackstone Mortgage (BXMT +1.2%), and Western Asset Mortgage (WMC +0.3%) have not utilized FHLB for funding, and while Apollo Commercial Real Estate Finance (ARI -0.4%) is a member, it had no advances as of Sept. 30.
- ETFs: MORL, REM, MORT, LMBS
- Previously: JPMorgan buys the dip in MFA Mortgage (Jan. 26)
Wed, Jan. 6, 9:49 AM
- Douglas Harter and team's top picks are those companies with operating businesses that can create their own investments: New Residential (NYSE:NRZ), PennyMac Mortgage (NYSE:PMT), Starwood Property (NYSE:STWD), and Two Harbors (NYSE:TWO).
- As for the names best-insulated from what's likely to be a series of rate hikes, Harter likes Starwood and Ares Commercial Real Estate (NYSE:ACRE).
- Looking more generally at the sector, Harter notes stocks on average are trading at a 25% discount to book value, meaning the risks from higher rates may already be baked in. While not seeing any catalyst to drive valuations higher, the average 14.7% dividend yield should provide a nice return.
- ETFs: MORL, REM, MORT, LMBS
Dec. 14, 2015, 7:27 AM
- The new $155M secured term loan has a term of three years and carries an interest rate of Libor +6%. Ares (NYSE:ACRE) made an initial draw of $75M at closing, with the remaining $80M to be funded within nine months.
- The facility will be used to fund proceeds for new loan originations, and the delay feature allows the company to better match its capital deployment and associated expense.
Nov. 5, 2015, 6:07 AM
- Ares Commercial Real Estate (NYSE:ACRE): Q3 EPS of $0.33 beats by $0.05.
- Revenue of $23.92M (+81.5% Y/Y) beats by $2.69M.
Nov. 4, 2015, 5:30 PM
- AAWW, ACIW, ACRE, ACTA, AES, AGIO, AGU, AINV, ALSK, AMCX, AMED, AMRC, ANSS, APA, ATHM, AZN, BBEP, BCE, BCRX, BDBD, BEE, BR, CCC, CCOI, CECE, CELG, CLDT, CNK, CNP, CNQ, CNSL, CONE, COTY, CROX, CSTM, CWEI, DNR, DUK, EGL, ENB, ENDP, ENOC, ESI, FUN, GEO, GLOG, GLP, GOGO, HFC, HGG, HII, HRC, INSY, IRC, IT, ITC, ITG, KATE, KOP, LAMR, LBY, LINE, LPI, LXP, MEG, MGA, MITL, MPEL, MPW, MSG, MSO, MVIS, MZOR, NDLS, NGS, NHI, NILE, NRP, OGE, OMED, PBH, PDCE, PRFT, PRIM, PWE, PWR, RDUS, RGEN, RGLD, RICE, RL, RLGY, RRD, RVLT, RWLK, SCOR, SEAS, SFM, SFY, SJI, SNSS, SPAR, SRC, SRPT, SSTK, STN, STWD, SYMC, TAP, TDC, TE, THS, TIME, TK, TLP, TNK, TRXC, TU, USAC, VC, VER, VIVO, WAC, WIN, WPP, ZEUS
Jul. 30, 2015, 11:31 AM
- Q2 net income of $9M or $0.31 per share vs. $6.6M and $0.23 one year ago. Dividend is $0.25.
- Full-year EPS guidance is boosted to $1.12-$1.18.
- Principal Lending total volume of $60.5M, including new originations of $39M and another $21.5M of funding on existing commitments. Loan repayments of $10M of principal. 90% of loans are floating-rate, 84% are senior mortgage loans.
- Mortgage Banking originations of $233M. As of June 30, multifamily service portfolio of 973 loans with a UPB of $4.4B. Carrying value of MSRs is $60.1M.
- Conference call at 12 ET
- Previously: Ares Commercial Real Estate beats by $0.04, beats on revenue (July 30)
- ACRE +2.4%