NEW YORK (AP) — NEW YORK (AP) — Ares Commercial Real Estate Corp. (ACRE) on Tuesday reported a loss of $6.1 million in its second quarter.
On a per-share basis, the New York-based company said it had a loss of 11 cents. Losses, adjusted for one-time gains and costs, came to 12 cents per share.
The real estate investment trust posted revenue of $16.8 million in the period. Its adjusted revenue was $40.8 million.
Ares Commercial Real Estate shares have fallen 33% since the beginning of the year. The stock has declined 34% in the last 12 months.
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