ZARE on OTC
Ares Real Estate Income Trust Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
66.5%Operating margin2
-13.6%Net margin2
19.5%Revenue growth, 20252
-10.4%Return on equity2
4.53×Debt to equity2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs96¢$480.9M
- Income tax4¢$18.0M
Out of $498.8M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid37¢$94.6M
- Kept or used elsewhere63¢$159.0M
Out of $253.6M of cash from operations.2
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental revenues | $452.6M | $370.9M | $322.0M |
| Debt-related income | $46.2M | $46.6M | $31.2M |
| Total revenues | $498.8M | $417.5M | $353.2M |
| Rental expenses | $167.3M | $136.2M | $118.8M |
| Real estate-related depreciation and amortization | $196.8M | $152.8M | $150.0M |
| General and administrative expenses | $13.7M | $12.8M | $11.8M |
| Advisory fees | $51.3M | $40.8M | $38.6M |
| Performance participation allocation | $16.5M | $0 | $0 |
| Acquisition costs and reimbursements | $6.9M | $7.0M | $7.0M |
| Valuation allowance on debt-related investment | $0 | $0 | -$1.8M |
| Total operating expenses | $452.4M | $349.6M | $324.5M |
| Income (loss) from unconsolidated joint venture partnerships | $48.6M | $14.5M | -$3.6M |
| Interest expense | -$251.4M | -$188.3M | -$148.5M |
| Gain on sale of real estate property | $57.2M | $12.9M | $36.9M |
| Gain (loss) on financial assets | $407.0K | -$17.0K | $0 |
| (Loss) gain on financing obligations | -$54.8M | -$2.0M | $932.0K |
| Gain (loss) on extinguishment of debt and financing obligations, net | $32.7M | $41.0M | -$700.0K |
| (Loss) gain on derivative instruments | -$7.0K | $402.0K | $126.0K |
| Provision for current expected credit losses | $464.0K | $1.5M | -$2.0M |
| Other income and expenses | $11.1M | $6.6M | $5.0M |
| Total other income (expenses) | -$155.6M | -$113.4M | -$111.9M |
| Net loss before income tax expense | -$109.2M | -$45.5M | -$83.2M |
| Income tax expense | -$18.0M | -$11.8M | $0 |
| Net loss | -$127.2M | -$57.3M | -$83.2M |
| Net loss attributable to redeemable noncontrolling interests | $431.0K | $273.0K | $597.0K |
| Net loss attributable to noncontrolling interests | $58.8M | $19.9M | $20.2M |
| Net loss attributable to common stockholders | -$68.0M | -$37.1M | -$62.4M |
| Weighted-average shares outstanding-basic (in shares) | 183.5M shares | 188.3M shares | 203.3M shares |
| Weighted-average shares outstanding-diluted (in shares) | 342.4M shares | 305.2M shares | 267.6M shares |
| Net loss attributable to common stockholders per common share-basic (in dollars per share) | -$0.37 | -$0.20 | -$0.31 |
| Net loss attributable to common stockholders per common share-diluted (in dollars per share) | -$0.37 | -$0.20 | -$0.31 |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net investment in real estate properties | $6.2B | $4.7B | |
| Investments in real estate debt and securities (includes $259,378 and $165,401 at fair value as of December 31, 2025 and December 31, 2024, respectively) | $303.8M | $353.3M | |
| Debt-related investments, held for sale | $0 | $193.9M | |
| Investments in unconsolidated joint venture partnerships (includes $77,703 and $38,386 at fair value as of December 31, 2025 and December 31, 2024, respectively) | $439.0M | $212.3M | |
| Cash and cash equivalents | $40.1M | $19.6M | $15.1M |
| Restricted cash | $5.7M | $7.9M | $4.6M |
| DST Program Loans (includes $170,865 and $71,068 at fair value as of December 31, 2025 and December 31, 2024, respectively) | $191.5M | $120.9M | |
| Other assets | $78.2M | $92.1M | |
| Total assets | $7.3B | $5.7B | |
| Accounts payable and accrued expenses | $92.6M | $71.2M | |
| Debt, net | $3.0B | $2.7B | |
| Intangible lease liabilities, net | $187.1M | $46.1M | |
| Financing obligations, net (includes $2,126,267 and $878,386 at fair value as of December 31, 2025 and December 31, 2024, respectively) | $2.4B | $1.4B | |
| Distribution fees payable to affiliates | $73.0M | $69.9M | |
| Other liabilities | $71.5M | $42.6M | |
| Total liabilities | $5.7B | $4.3B | |
| Redeemable equity (Note 11 and 12) | $211.5M | $9.4M | |
| Preferred stock, $0.01 par value per share200,000 shares authorized, none issued and outstanding | $0 | $0 | |
| Common stock, $0.01 par value per share (Note 10) | $1.8M | $1.8M | |
| Additional paid-in capital | $2.0B | $2.0B | |
| Distributions in excess of earnings | -$1.4B | -$1.2B | |
| Accumulated other comprehensive (loss) income | -$232.0K | $3.7M | |
| Total stockholders equity | $655.4M | $745.8M | |
| Noncontrolling interests | $655.5M | $660.1M | |
| Total equity | $1.3B | $1.4B | $1.1B |
| Total liabilities and equity | $7.3B | $5.7B | |
| Investments in real estate debt and securities at fair value | $259.4M | $165.4M | |
| Investments in unconsolidated joint venture partnerships | $77.7M | $38.4M | |
| DST Program Loans | $170.9M | $71.1M | |
| Financing obligations | $2.1B | $878.4M | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$127.2M | -$57.3M | -$83.2M |
| Real estate-related depreciation and amortization | $196.8M | $152.8M | $150.0M |
| Straight-line rent and amortization of above- and below-market leases | -$11.7M | -$10.7M | -$7.0M |
| Gain on sale of real estate property | -$57.2M | -$12.9M | -$36.9M |
| Unrealized (gain) loss on financial assets | -$407.0K | $17.0K | $0 |
| Performance participation allocation | $16.5M | $0 | $0 |
| Valuation allowance on debt-related investment | $0 | $0 | -$1.8M |
| (Income) loss from unconsolidated joint venture partnerships | -$48.6M | -$14.5M | $3.6M |
| (Gain) loss on extinguishment of debt and financing obligations, net | -$32.7M | -$41.0M | $700.0K |
| Provision for current expected credit losses | -$464.0K | -$1.5M | $2.0M |
| Amortization of deferred financing costs | $14.9M | $10.0M | $7.4M |
| Decrease in financing obligation liability appreciation | $0 | -$69.0K | -$459.0K |
| Unrealized loss (gain) on financing obligations | $54.8M | $2.0M | -$932.0K |
| Unrealized loss (gain) on derivative instruments not designated as cash flow hedges | $7.0K | -$264.0K | $4.2M |
| Paid-in-kind interest on investments in real estate debt and securities, net of repayments | -$17.0K | -$26.4M | -$7.9M |
| Distributions of earnings from unconsolidated joint venture partnerships | $19.5M | $4.5M | $3.4M |
| Amortization of interest rate cap premiums | $9.7M | $14.1M | $5.7M |
| Other | $897.0K | -$451.0K | -$1.3M |
| Other assets | $108.0K | -$7.7M | -$2.9M |
| Accounts payable and accrued expenses | $13.7M | $6.9M | $4.1M |
| Other liabilities | $11.0M | $6.9M | $1.1M |
| Debt-related investments, held for sale | $193.9M | -$193.9M | $0 |
| Cash settlement of accrued performance participation allocation | $0 | $0 | -$23.7M |
| Net cash provided by (used in) operating activities | $253.6M | -$169.5M | $16.0M |
| Real estate acquisitions | -$1.5B | -$871.7M | -$401.8M |
| Capital expenditures | -$47.6M | -$55.6M | -$48.3M |
| Proceeds from disposition of real estate property | $110.9M | $31.2M | $53.7M |
| Investments in debt-related investments | -$107.9M | -$62.3M | -$52.0M |
| Principal collections on debt-related investments | $148.6M | $106.8M | $66.7M |
| Distributions from joint venture partnerships | $10.0M | $0 | $0 |
| Investments in unconsolidated joint venture partnerships | -$205.0M | -$72.1M | -$39.9M |
| Consolidation of equity method investment | $0 | $2.6M | $0 |
| Investments in available-for-sale debt securities | -$117.9M | -$3.0M | -$102.2M |
| Principal collections on available-for-sale debt securities | $128.4M | $4.6M | $0 |
| Other | $108.0K | $445.0K | $2.3M |
| Net cash used in investing activities | -$1.6B | -$919.1M | -$521.6M |
| Proceeds from mortgage notes | $85.0M | $535.8M | $287.3M |
| Repayments of mortgage notes | -$197.8M | -$22.2M | -$72.2M |
| Proceeds from line of credit | $2.6B | $1.4B | $1.2B |
| Repayments of line of credit | -$2.4B | -$1.2B | -$1.1B |
| Proceeds from term loans | $438.0M | $0 | $0 |
| Repayments of term loans | -$238.0M | $0 | $0 |
| Proceeds from secured borrowings | $462.2M | $0 | $0 |
| Repayments of secured borrowings | -$462.2M | $0 | $0 |
| Redemptions of common stock | -$122.4M | -$191.6M | -$193.9M |
| Distributions paid to common stockholders, redeemable noncontrolling interest holders and noncontrolling interest holders | -$94.6M | -$78.3M | -$61.2M |
| Proceeds from issuance of common stock | $303.9M | $29.7M | $88.1M |
| Proceeds from financing obligations, net | $1.1B | $712.3M | $412.9M |
| Offering costs for issuance of common stock and private placements | -$17.4M | -$17.3M | -$15.4M |
| Cash payout of DST Interests | $0 | -$3.9M | $0 |
| Redemption of redeemable noncontrolling interests and noncontrolling interests | -$46.1M | -$34.8M | -$33.9M |
| Debt issuance costs paid | -$22.3M | -$11.9M | -$6.4M |
| Interest rate cap premiums | -$548.0K | -$3.4M | -$29.3M |
| Other | -$159.0K | $395.0K | $0 |
| Net cash provided by financing activities | $1.4B | $1.1B | $508.1M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $137.0K | $21.0K | $0 |
| Net increase in cash, cash equivalents and restricted cash | $18.3M | $7.8M | $2.5M |
Compare Ares Real Estate Income Trust Inc. with another company
Former names
Recent filings
- Oct 7, 20268-K
- Sep 16, 20268-K
- Sep 8, 20268-K
- Aug 17, 2026D/A
- 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 7, 20268-K
- Jul 17, 20268-K
- Jul 8, 20268-K
- Jul 2, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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.
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