NEW YORK (AP) _ Ares Commercial Real Estate Corp. (ACRE) on Wednesday reported first-quarter earnings of $8.5 million.
On a per-share basis, the New York-based company said it had profit of 30 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 32 cents per share.
The real estate investment trust posted revenue of $28 million in the period.
Ares Commercial Real Estate shares have climbed 17% since the beginning of the year. The stock has climbed 24% in the last 12 months.
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