Investor Presentaiton
Consolidated Statements of Operations
($ in thousands, except share and per share data)
6/30/2020
3/31/2020
12/31/2019
For the Three Months Ended
9/30/2019
6/30/2019
Revenue:
Interest income from loans held for investment
Interest expense
Net interest margin
Revenue from real estate owned
29,835 $
31,448 $
28,536 $
28,269 $
29,993
(13,042)
(15,534)
(15,044)
(15,124)
(16,675)
16,793
15,914
13,492
13,145
13,318
1,189
5,220
8,088
6,702
8,357
Total revenue
17,982
21,134
21,580
19,847
21,675
Expenses:
Management and incentive fees to affiliate
2,152
1,773
1,959
1,578
2,252
Professional fees
660
903
641
542
532
General and administrative expenses
959
868
1,035
1,005
1,029
General and administrative expenses reimbursed to affiliate
1,038
1,051
764
831
771
Expenses from real estate owned
3,254
6,676
7,338
6,838
7,118
Total expenses
8,063
11,271
11,737
10,794
11,702
Provision for current expected credit losses
(4,007)
27,117
Unrealized losses on loans held for sale
3,998
Income (loss) before income taxes
9,928
(17,254)
9,843
9,053
9,973
Income tax expense, including excise tax
160
9
183
Net income (loss) attributable to common stockholders
9,768 $
(17,263) $
9,660 $
19
9,034 $
218
9,755
Earnings (loss) per common share:
Basic earnings (loss) per common share
$
0.29 $
Diluted earnings (loss) per common share
$
0.29 $
(0.54) $
(0.54) $
0.34 $
0.32 $
0.34
0.33 $
0.31 $
0.34
Weighted average number of common shares outstanding:
Basic weighted average shares of common stock outstanding
Diluted weighted average shares of common stock outstanding
Dividends declared per share of common stock (¹)
33,316,933
33,539,580
31,897,952
31,897,952
28,640,363
28,872,975
28,634,514
28,867,603
28,599,282
28,863,765
0.33 $
0.33 $
0.33
$
0.33 $
0.33
1. There is no assurance dividends will continue at these levels or at all.
19
ARES
COMMERCIAL REAL ESTATE CORPORATIONView entire presentation