Ares Commercial Real Estate (ACRE)
Originates senior CRE loans through an externally managed Ares platform.
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Originates and invests in senior mortgage loans and related CRE debt, with revenue tied mainly to net interest margin and real estate owned. The company is externally managed by an Ares affiliate and operates as one segment, with current execution shaped by office and risk-rated loan cleanup.
Provides financing to owners, operators, and sponsors of commercial real estate, with the public portfolio centered on senior mortgage loans in liquid U.S. markets. Target investments also include subordinated debt, mezzanine loans, preferred equity, commercial mortgage-backed securities, and REO-related assets.
Operates as a single reportable segment, earning mainly through net interest margin and real estate owned rather than property operations. The business has no direct employees; an Ares Management affiliate supplies executives, investment personnel, administration, and day-to-day operating support.
Execution depends on the Ares platform for origination and portfolio management. Recent activity has focused on rebuilding senior-loan commitments while reducing office exposure, risk-rated loans, debt, and REO positions.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 2, 2026 | UBS | Reiterate | Rating: —Target: $3.75 | Target: $5.50 |
| Feb 12, 2026 | Wells Fargo | Reiterate | Rating: —Target: $7 | Target: $5 |
| Dec 15, 2025 | Keefe, Bruyette & Woods | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $17.6M · Total debt $1.53B · Total assets $1.82B · Shareholders' equity $489.2M
- Revenue
- $14.4M
- Operating income
- $5.4M
- Net income
- $4.4M
HistoryDividendAnnual yieldUpcoming
| Institutions | 45.55% | 25.27M shares | |
|---|---|---|---|
| 148 holders · as of Jun 30, 2026 | |||
| Insiders | 6.21% | 3.44M shares | |
| 11 holders · as of May 1, 2026 | |||
| Strategic holders | 8.07% | 4.48M shares | |
| 1 holder · as of Feb 3, 2022 | |||
| Other | 40.17% | 22.29M shares | |
| remainder | |||
55.48M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.42% | 4.67M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 8.07% | 4.48M | filed Feb 3, 2022 |
Vanguard Capital Management LLCInstitution | 4.35% | 2.41M | as of Jun 30, 2026 |
Schedule 13d/aInsider | 4.21% | 2.34M | filed Mar 22, 2021 |
Lighthouse Investment Partners, LLCInstitution | 2.82% | 1.56M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 14, 2026 | Anton Feingold | officer: Gen. Counsel VP and Secretary | −7,606 | $4.93 |
| Jan 14, 2026 | Jeffrey Michael Gonzales | officer: CFO and Treasurer | −6,218 | $4.93 |
| Jan 14, 2026 | Bryan Patrick Donohoe | officer: Chief Executive Officer | −21,761 | $4.93 |
- Starwood Property Trust
Large CRE finance peer with senior lending and debt investing
- Blackstone Mortgage Trust
Scaled Blackstone-backed senior CRE lending peer
- Ladder Capital
Middle-market CRE finance peer across mortgages and mezzanine capital
- Apollo Commercial Real Estate Finance
Apollo-backed CRE debt REIT with first mortgage overlap
- KKR Real Estate Finance Trust
KKR-backed structured senior CRE loan competitor
- BrightSpire Capital
Internally managed CRE credit REIT focused on senior loans
- Granite Point Mortgage Trust
Smaller senior floating-rate commercial mortgage peer
- ACRES Commercial Realty
Small middle-market CRE mortgage REIT with similar loan focus
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ares Commercial Real Estate | $4.45 | +1.48% | $243.0M | — | 20.4 | 2.5 | — |
| Starwood Property Trust | $15.18 | +1.17% | $5.56B | 22.0 | 9.0 | 2.7 | +7.9% |
| Blackstone Mortgage Trust | $13.24 | −0.26% | $2.24B | 165.9 | 10.9 | 1.5 | +18.1% |
| Ladder Capital | $9.47 | +0.16% | $1.20B | 22.5 | 8.7 | 3.2 | −40.9% |
| Apollo Commercial Real Estate Finance | $6.43 | −0.00% | $842.0M | 8.1 | 57.6 | 3.2 | +3.1% |
| KKR Real Estate Finance Trust | $6.68 | −1.26% | $434.7M | — | — | 1.0 | −41.6% |
| BrightSpire Capital | $4.27 | +2.03% | $528.9M | — | 7.0 | 1.6 | −2.8% |
| Granite Point Mortgage Trust | $0.8304 | +0.33% | $39.7M | — | — | 0.3 | −87.2% |
| ACRES Commercial Realty | $12.54 | −0.28% | $89.6M | — | 9.1 | 0.5 | −50.2% |
| Median | 22.3 | 9.1 | 1.5 | −21.8% |