Private company
ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc.
American real estate investment trust, incorporated in Maryland.
Last updated Oct 18, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
77.0%Operating margin2
-21.1%Net margin2
12.6%Revenue growth, 20252
-8.1%Return on equity2
3.06×Debt to equity2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$592.3M
Out of $592.3M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid30¢$110.8M
- Share buybacks70¢$258.1M
Out of $98.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5M4 | $40.4M5 | $79.4M6 | $177.1M7 | $392.0M8 | $470.1M2 | $525.9M2 | $592.3M2 |
| Operating income | $297.7M8 | $358.5M2 | $402.6M2 | $456.4M2 | ||||
| Interest | $2.2M4 | $9.1M5 | $13.0M6 | $30.5M7 | $150.8M7 | $190.4M7 | ||
| Net income | -$4.2M4 | -$22.4M5 | -$30.1M6 | -$75.3M7 | -$308.1M8 | -$204.7M2 | -$111.1M2 | -$124.8M2 |
| Earnings per share | -$0.605 | -$0.276 | -$0.377 | -$1.048 | -$0.672 | -$0.402 | -$0.462 | |
| Earnings per share (diluted) | -$0.605 | -$0.276 | -$0.377 | -$1.048 | -$0.672 | -$0.402 | -$0.462 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash | $19.0M5 | $51.2M6 | $232.4M7 | $216.8M8 | $79.5M2 | $14.3M2 | $25.1M2 | $63.0M2 |
| Total assets | $323.5M12 | $938.8M4 | $1.9B5 | $5.2B6 | $7.2B7 | $7.3B8 | $7.6B2 | $7.8B2 |
| Long-term debt | $117.8M12 | $460.2M4 | $579.2M5 | $2.2B6 | $2.8B7 | $3.4B8 | $4.2B2 | $4.7B2 |
| Total liabilities | $151.7M12 | $531.6M4 | $701.0M5 | $3.0B6 | $4.6B7 | $5.4B8 | $5.5B2 | $5.6B2 |
| Shareholders’ equity | $171.8M12 | $406.5M4 | $1.2B5 | $2.2B6 | $2.6B7 | $1.8B8 | $1.6B2 | $1.5B2 |
| Shares outstanding |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $3.2M4 | $6.5M5 | $15.6M6 | $62.6M7 | $101.6M8 | $2.0M2 | $66.1M2 | $98.8M2 |
| Dividends paid | $1.4M4 | $6.3M5 | $19.1M6 | $37.3M7 | $57.9M8 | $68.2M2 | $85.4M2 | $110.8M2 |
| Share buybacks | $603.0K4 | $2.3M5 | $4.9M6 | $25.1M7 | $213.4M8 | $652.8M2 | $421.1M2 | $258.1M2 |
| Dividend per share | $0.554 | $0.555 | $0.556 | $0.557 | $0.558 | $0.572 | $0.602 | $0.6111 |
Compare ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. with another company
Leadership
Who has led ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc., and when. Pick a name to see everywhere that person has worked.
Chair
Chief financial officer
20202025
- ChairEvan Zucker Mar 5, 2019 to Jan 31, 202213
- PresidentRajat Dhanda Feb 2, 2023 to Feb 2, 202314
- PresidentDavid M. Fazekas Feb 17, 2023 to Dec 30, 202415
- Chief financial officerTaylor M. Paul Nov 19, 2025 to now16
- Chief financial officerScott Seager Aug 14, 2020 to Mar 28, 202317
Board members and other officers (13)
- OfficerJoshua J. Widoff Mar 5, 2019 to Feb 2, 202318
- OfficerRajat Dhanda Mar 5, 2019 to May 3, 202119
- OfficerScott W. Recknor Mar 5, 2019 to now20
- OfficerThomas G. McGonagle Mar 5, 2019 to Mar 5, 201921
- Board memberMartin A. Edmondson Apr 11, 2025 to now22
- Board memberDavid M. Fazekas Dec 30, 2024 to Dec 30, 202423
- Board memberRajat Dhanda Feb 2, 2023 to Feb 2, 202314
- Board memberWilliam Stephen Benjamin Feb 17, 2023 to Apr 3, 202324
- Board memberDawanna Williams Aug 18, 2023 to now25
- Board memberCharles B. Duke Mar 5, 2019 to now26
- Board memberJohn S. Hagestad Mar 5, 2019 to now27
- Board memberMarshall M. Burton Mar 5, 2019 to now28
- Board memberStanley A. Moore Mar 5, 2019 to now29
Former names
Timeline
- Sep 3, 2024Funding Raised $450.4 million in a private offering of equity30
Recent filings
- Oct 15, 20268-K
- Oct 7, 20268-K
- Sep 16, 20268-K
- Aug 17, 20268-K
- Aug 12, 202610-Q
- Aug 11, 20268-K
- Aug 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 10, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
- Aug 7, 20268-K
- Jul 17, 20268-K
- Jul 8, 20268-K
- Jun 24, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 12
- 13SEC EDGAREvan Zucker, Chair
- 14SEC EDGARRajat Dhanda, President
- 15SEC EDGARDavid M. Fazekas, President
- 16
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- 18SEC EDGARJoshua J. Widoff, Officer
- 19SEC EDGARRajat Dhanda, Officer
- 20SEC EDGARScott W. Recknor, Officer
- 21SEC EDGARThomas G. McGonagle, Officer
- 22SEC EDGARMartin A. Edmondson, Board member
- 23SEC EDGARDavid M. Fazekas, Board member
- 24
- 25SEC EDGARDawanna Williams, Board member
- 26SEC EDGARCharles B. Duke, Board member
- 27SEC EDGARJohn S. Hagestad, Board member
- 28SEC EDGARMarshall M. Burton, Board member
- 29SEC EDGARStanley A. Moore, Board member
- 30