# Ares Commercial Real Estate Corporation (ACRE)

> Source: Nexqual · https://nexqual.com/ACRE · data as of 2026-10-23 17:24 UTC · cite as "Nexqual, Ares Commercial Real Estate Corporation (ACRE), nexqual.com/ACRE" · informational, not investment advice.

**Price:** USD 3.27 (+0.31% today) · US market open, as of October 23, 2026 at 17:24 UTC; quotes may be delayed. Prev close 3.26 · day 3.2–3.29 · 52w 3.16–5.89 · market cap $181M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $55.1M, net income -$4.4M (-8.0% margin) (SEC filings).
- Analysts: Hold (mean 3.13 on a 1–5 scale) (8 analysts), mean target USD 5 (range 4.5–5.5).
- Total return with dividends: 1Y -20.4% vs S&P 500 +14.4%; 5Y -59.6% vs S&P 500 +77.0%.
- Next earnings: 2026-11-05, EPS estimate USD 0.05, revenue estimate $13.9M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $102M | $107M | $92.9M | $69.7M | $54.8M | $55.1M |
| Net income | $60.5M | $29.8M | -$38.9M | -$35.0M | -$902K | -$4.4M |
| Net margin | 59.2% | 27.9% | -41.8% | -50.2% | -1.6% | -8.0% |
| Revenue growth | +23.4% | +4.7% | -13.0% | -25.0% | -21.3% | — |
| Cash + short-term investments | $50.6M | $141M | $110M | $63.8M | $29.3M | — |
| Total debt | $1.04B | $960M | $895M | $718M | $948M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 3.3x · P/B 0.4x · Earnings yield -2.44% · Dividend yield (paid, TTM) 18.53%

## Analysts
Consensus Hold (mean 3.13 on a 1–5 scale), 8 analysts; mean target USD 5 (low 4.5, high 5.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Keefe, Bruyette & Woods | Target lowered | Outperform | $5.5 → $4.5 |
| 2026-07-17 | JP Morgan | Target lowered | Neutral | $5.5 → $5 |
| 2026-07-09 | Citizens | Reiterated | Market Perform |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -20.4% | -59.6% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -20.4% | -16.6% |
| Volatility (annualized) | 36.5% | 36.0% |
| Max drawdown | -38.7% (Feb 2026→Oct 2026) | -67.0% (Apr 2022→Apr 2025) |

## Peers (REIT - Mortgage)
KREF (KKR Real Estate Finance Trust I) USD 5.6 -2.19% · RWT (Redwood Trust, Inc.) USD 3.13 +0.32% · BRSP (BrightSpire Capital, Inc.) USD 3.61 -1.23% · TRTX (TPG RE Finance Trust, Inc.) USD 6.21 -0.16% · FBRT (Franklin BSP Realty Trust, Inc.) USD 6.16 -1.52% · ABR (Arbor Realty Trust) USD 2.83 -4.56%

## More
Full page: https://nexqual.com/ACRE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ACRE's own 10-K filed 2026-02-10 (https://www.sec.gov/Archives/edgar/data/1529377/000162828026006635/acre-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Ares Management Corp (ARES) | "Ares Management believes that its unique culture, which centers upon values of collaboration, responsibility, entrepreneurialism, self-awareness and trustworthiness, makes it a preferred place for top talent at all level…" |
| Partner | Cortland Capital Market Services | "As of December 31, 2025, we had $90.0 million outstanding under our $90.0 million Credit and Guaranty Agreement with the lenders referred to therein and Cortland Capital Market Services LLC, as administrative agent and c…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.05 | $0.10 | -53.9% | $13.9M | 4 |
| Next quarter (ends 2026-12-31) | $0.04 | $0.11 | -66.0% | $14.3M | 4 |
| Current fiscal year (ends 2026-12-31) | $0.26 | $0.32 | -17.7% | $55.7M | 4 |
| Next fiscal year (ends 2027-12-31) | $0.28 | $0.46 | -40.3% | $60.6M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±24.7%; last 8 reports averaged ±10.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 221.0% | ±24.7% |