NEW YORK (AP) — NEW YORK (AP) — Ares Commercial Real Estate Corp. (ACRE) on Wednesday reported a loss of $10.7 million in its fourth quarter.
On a per-share basis, the New York-based company said it had a loss of 20 cents. Losses, adjusted for one-time gains and costs, were 15 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The real estate investment trust posted revenue of $17.5 million in the period. Its adjusted revenue was $33.5 million.
For the year, the company reported that its loss narrowed to $35 million, or 64 cents per share. Revenue was reported as $157.7 million.
Ares Commercial Real Estate shares have increased slightly more than 3% since the beginning of the year. The stock has decreased 30% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACRE at https://www.zacks.com/ap/ACRE
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