Ares Commercial Real Estate (ACRE) Operating Expenses (2012 - 2026)
Ares Commercial Real Estate (ACRE) reported Operating Expenses of $8.97 million for the quarter ended Jun 30, 2026, down 16.6% from $10.75 million a year earlier but up 4.8% from the prior quarter.
Ares Commercial Real Estate (ACRE) Operating Expenses (2012 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Ares Commercial Real Estate's Operating Expenses came in at $37.52 million, down 10.4% year-over-year; for the year ended Dec 31, 2025, it was $41.41 million, up 9.2% from the prior year.
- Operating Expenses has a five-year compound annual growth rate of 2.7% (years ended Dec 2020 to Dec 2025).
- By year, Operating Expenses came in at $37.93 million in the year ended Dec 31, 2024 (+33.0%), $28.51 million in the year ended Dec 31, 2023 (-12.9%), $32.73 million in the year ended Dec 31, 2022 (-19.9%) and $40.88 million in the year ended Dec 31, 2021 (+12.6%).
- Five-year quarterly Operating Expenses spans a low of $6.2 million in the quarter ended Mar 31, 2023 and a high of $12.06 million in the quarter ended Dec 31, 2021.
- Year over year, Operating Expenses has now declined in each of the last three quarters, with growth averaging 9.6% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was the quarter ended Sep 30, 2024 (growth of 41.0%); the low point was the quarter ended Mar 31, 2023 (a decline of 41.0%).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at $8.56 million (quarter ended Mar 31, 2026), $10 million (quarter ended Dec 31, 2025) and $10 million (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 2.50 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | Ares Commercial Real Estate | 213.60 Mn | -4.28 Mn | - | 8.97 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.97 Mn |
| Mar 31, 2026 | 8.56 Mn |
| Dec 31, 2025 | 10.00 Mn |
| Sep 30, 2025 | 10.00 Mn |
| Jun 30, 2025 | 10.75 Mn |
| Mar 31, 2025 | 10.66 Mn |
| Dec 31, 2024 | 11.16 Mn |
| Sep 30, 2024 | 9.31 Mn |
| Jun 30, 2024 | 8.91 Mn |
| Mar 31, 2024 | 8.55 Mn |
| Dec 31, 2023 | 8.61 Mn |
| Sep 30, 2023 | 6.60 Mn |
| Jun 30, 2023 | 7.11 Mn |
| Mar 31, 2023 | 6.20 Mn |
| Dec 31, 2022 | 7.83 Mn |
| Sep 30, 2022 | 7.14 Mn |
| Jun 30, 2022 | 7.25 Mn |
| Mar 31, 2022 | 10.51 Mn |
| Dec 31, 2021 | 12.06 Mn |
| Sep 30, 2021 | 10.89 Mn |
Ares Commercial Real Estate Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ACRE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ACRE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ACRE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();