Ares Commercial Real Estate targets 9%-10% return on equity after announcing a new share repurchase authorization.
Ares Commercial Real Estate Corporation (ACRE) authorized a $50M share repurchase program extending through July 2027. The move follows a quarter of relative stability in commercial real estate despite macroeconomic uncertainty.
Management aims to return to a 9%-10% return on equity, citing compelling opportunities in the sector. The company did not disclose prior repurchase activity or consensus expectations for the authorization.
No immediate market reaction was reported following the announcement.