akinbostanci/iStock via Getty Images We first wrote about Ares Commercial Real Estate Corporation (NYSE:ACRE) in February 2024. The idea then was that the poor distribution coverage would result in a cut, sooner rather than later. The actual distribution cut came within two weeks, and the stock has responded in kind. Total returns have been negative, even accounting for the distributions. Seeking Alpha In our subsequent coverage, we made the rather unusual call that a second distribution cut would be coming ...