The sharp miss on Street earnings and revenue decline confirm ongoing portfolio credit issues. Watch for resolution of risk-rated loans (still $368M) and any dividend cut if Distributable Earnings continue to weaken. The maintained dividend provides a backstop but is not sustainable if credit losses persist.
Price Chart
Executive Summary
ACRE reported Q1 2026 GAAP net loss of $(9.6)M and Distributable EPS of $0.06, missing consensus of $0.11 by 45%. Total revenue fell 10% YoY to $13.5M, with a $11.1M CECL provision vs a reversal a year ago, underscoring persistent credit stress.
Key Financial Metrics
Key Facts
- GAAP net loss of $(9.6)M or $(0.17) per diluted share
- Distributable EPS (non-GAAP) of $0.06 vs consensus $0.11 — a 45% miss
- Total revenue of $13.5M declined 10% YoY from $14.9M
- CECL provision of $11.1M vs a $5.3M reversal in Q1 2025
- Quarterly dividend maintained at $0.15/share
- Closed $294M in new loan commitments in Q1 2026; $95M post-quarter
Financial Impact
Distributable EPS miss of $0.05 (45%), revenue decline of ~$1.5M (10%), and a $11.1M CECL charge
Risk Factors
- Further CECL provisioning if credit conditions worsen
- Dividend reduction if Distributable Earnings fall below payout
- Limited earnings growth until risk-rated loans are resolved
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-031611 |
| Document: acreq1-26exhibit992.htm | 0001628280-26-031611 |
| Document: acre-20260507.htm | 0001628280-26-031611 |
| Document: 0001628280-26-031611-index-headers.html | 0001628280-26-031611 |
| Document: 0001628280-26-031611-index.html | 0001628280-26-031611 |
| Document: 0001628280-26-031611.txt | 0001628280-26-031611 |
| 8-K Data (Synthetic) | 0001628280-26-031611 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | Press Release | $3.27 | awaiting T+20 | — | $3.41 (+4.28%) |
Oct 9, 2026 17d ago | 8-K | $3.57 | awaiting T+20 | — | $3.41 (−4.48%) |
Aug 15, 2026 10w ago | Institutional Cluster | $4.62 $4.33 | ▼ −6.28% | ▼ −4.30% | $3.41 (−26.19%) |
Jul 21, 2026 13w ago | Press Release | $4.57 $4.70 | ▲ +2.84% | ▼ −0.05% | $3.41 (−25.38%) |
May 15, 2026 23w ago | DEFA14A | $4.64 $4.88 | ▲ +5.17% | ▲ +3.59% | $3.41 (−26.51%) |
May 6, 2026 24w ago | 8-K | $5.05 $4.89 | ▲ +3.17% | ▲ +6.30% | $3.41 (+32.48%) |
US Market Status
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