Real Estate & Construction · Week of Nov 2, 2026
Q3 results, FirstService mandates and slowing home sales
Third-quarter results from Stanley Black & Decker and Ares Commercial Real Estate, three FirstService mandates and softer October home sales data.
Third-quarter reporting led the week. Stanley Black & Decker raised its 2026 EPS and free cash flow guidance, and its results included a benefit of about $0.67 per share from net IEEPA tariff refunds. Ares Commercial Real Estate Corporation reported GAAP net income of $10.0 million, or $0.18 per diluted share. It also repaid and terminated its $90 million secured term loan after the quarter and declared a $0.15 fourth-quarter dividend. On the housing side, Realtor.com's October report shows active inventory rising for a fourth straight month while homes under contract fell 10.5% year over year, with 30-year mortgage rates averaging 7.33%.
FirstService Residential issued three releases announcing new property management mandates. They cover a 70-residence luxury development in Sarasota, a high-rise condominium in Baltimore and a community association in Chalfont, Pennsylvania. None of the three releases gives contract terms. Separately, Draper Goren Blockchain Studio launched LenDb.ai, a free database of US mortgage loan officers built for AI assistants, which the company says is run day to day by an AI CEO.
Stanley Black & Decker, Inc.
Stanley Black & Decker Reports 3Q 2026 Results
Stanley Black & Decker reported third-quarter 2026 net sales of $3.7 billion, down 1% in total and up 4% organically. Diluted EPS was $1.83, and both diluted and adjusted EPS included about $0.67 from net IEEPA tariff refunds. The company raised 2026 GAAP EPS guidance to $5.45 to $5.85 and lifted free cash flow guidance to $1.0 billion to $1.2 billion, from $600 million to $800 million. Its Board approved a new $1 billion share repurchase authorization on October 29, 2026.
Ares Commercial Real Estate Corp
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS
Ares Commercial Real Estate Corporation reported third-quarter 2026 GAAP net income of $10.0 million, or $0.18 per diluted share, up from $0.08 a year earlier. Distributable Earnings were $6.7 million, or $0.12 per share. Results included a $7,082 thousand gain on the sale of a real estate owned office property. The company's current expected credit loss reserve rose to $139,325 thousand as of September 30, 2026, from $125,756 thousand at December 31, 2025.
Ares Commercial Real Estate Corporation
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS THIRD QUARTER 2026 RESULTS
A second Ares Commercial Real Estate Corporation release on the same third-quarter results says the company fully repaid and terminated its $90 million secured term loan after quarter end. It also says the Board declared a fourth-quarter 2026 dividend of $0.15 per common share, payable January 15, 2027 to stockholders of record as of December 31, 2026.
Realtor.com
Active Inventory Grows as Sellers Keep Homes on the Market: Realtor.com® October Housing Report
Realtor.com says new listings fell 7.5% year over year to 357,000 in October, the steepest decline of 2026, while active listings rose 7.4% to 1,183,500. The national median list price was $415,000, down 2.2% from a year earlier. Homes under contract fell 10.5%, the steepest annual drop since October 2023, as 30-year mortgage rates averaged 7.33%. The company says buyers are pulling back while sellers list fewer homes without a broad rise in delistings.
Firstservice Residential, Inc.
FirstService Residential selected for Sarasota's historic Mira Mar redevelopment
Seaward Development selected FirstService Residential to provide property management and lifestyle and amenities management for Mira Mar Sarasota. The project has 70 residences in two 18-story towers and includes restoration of the historic 1922 Mira Mar building. According to the release, pricing begins in the high $3 million range. The release does not state when services begin.
FirstService Residential
FirstService Residential Selected to Manage Scarlett Place Condominium in Baltimore
FirstService Residential says it was selected to provide full-service property management for Scarlett Place Condominium, a high-rise overlooking Baltimore's Inner Harbor. The release says the community is now managed by the company but gives no start date or contract terms.
FirstService Residential
FirstService Residential Expands in Pennsylvania, Welcoming The Highlands Community Association
FirstService Residential says it was selected to provide full-service property management for The Highlands Community Association in Chalfont, Pennsylvania, in Bucks County. The release does not give contract terms, community size or the name of any previous manager.
LenDb.ai, Inc.
Draper Goren launches LenDb.ai, a free database of 224,000 US loan officers built for AI assistants and run day to day by an AI CEO
Draper Goren Blockchain Studio launched LenDb.ai, a free, lender-neutral database of 224,703 US loan officer records and 512,101 license records, designed for AI assistants such as ChatGPT and Claude. The company says it is not a lender or referral service and that lenders cannot pay for placement. It also says day-to-day operations are managed by an AI CEO named Andrew that reports to a human board.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Smart Finance Review reporting.