NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� Ares Commercial Real Estate Corp. (ACRE) on Tuesday reported second-quarter net income of $4.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of 8 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 12 cents per share.
The real estate investment trust posted revenue of $14.4 million in the period. Its adjusted revenue was $27.8 million.
The company’s shares closed at $4.25. A year ago, they were trading at $4.44.
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