ZARE · XBRL financial data

Ares Real Estate Income Trust financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (ZARE's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Revenue	91	94*	99	103	107	108*	116	118	123	141*	145	151
General and administrative	3	3*	3	3	3	3*	3	3	4	4*	3	3
Operating income (loss)	61	63*	67	69	71	75*	77	78	79	98*	100	106
Interest expense	34	39*	44	46	47	51*	55	59	66	71*	71	71
Other income (expense)	1	2*	1	1	2	2*	1	3	4	3*	3	3
Income tax expense (benefit)	—	year only	—	4	5	3*	5	2	10	1*	4	11
Net income (loss)	(14)	(23)*	(15)	(14)	(2)	(6)*	(18)	(23)	(8)	(19)*	(21)	(14)
Earnings per share, basic USD per share	(0.07)	(0.12)*	(0.08)	(0.08)	(0.01)	(0.03)*	(0.10)	(0.13)	(0.05)	(0.10)*	(0.10)	(0.06)
Earnings per share, diluted USD per share	(0.07)	(0.08)*	(0.08)	(0.08)	(0.01)	(0.02)*	(0.10)	(0.13)	(0.05)	(0.05)*	(0.10)	(0.06)
Weighted average shares, basic millions of shares	202	198*	196	191	185	181*	179	178	179	198*	211	227
Weighted average shares, diluted millions of shares	266	276*	281	290	318	332*	337	335	335	361*	400	437

Fiscal quarters (ZARE's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Cash and cash equivalents	15	15	16	38	21	20	34	40	72	40	51	41
Total assets	4,486	4,639	4,682	4,933	5,061	5,731	5,585	5,836	6,533	7,269	7,481	7,678
Total liabilities	3,386	3,516	3,560	3,832	3,794	4,316	4,268	4,601	5,354	5,746	5,822	5,644
Total stockholders' equity	830	795	767	721	734	746	692	652	626	655	692	750
Total liabilities and equity	4,486	4,639	4,682	4,933	5,061	5,731	5,585	5,836	6,533	7,269	7,481	7,678

Fiscal quarters (ZARE's year ends in late December)

In millions of dollars	Q3 FY23Sep 30, 2023	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026
Net income (loss)	(14)	(23)*	(15)	(14)	(2)	(6)*	(18)	(23)	(8)	(19)*	(21)	(14)
Net cash from operating activities	19*	(2)*	8	15*	8*	year only	201	17*	(128)*	163*	(163)	189*
Net cash from investing activities	(212)*	(200)*	(63)	(247)*	(180)*	(429)*	(44)	(255)*	(467)*	(844)*	(53)	(335)*
Proceeds from issuing common stock	12*	9*	8	8*	6*	8*	13	25*	25*	240*	62	292*
Share repurchases	53*	—	38	60*	55*	—	39	27*	28*	—	—	—
Dividends paid	16*	17*	17	18*	20*	22*	24	23*	24*	24*	29	31*
Proceeds from long-term debt	0*	—	—	—	—	—	—	—	—	—	—	—
Net cash from financing activities	195*	203*	55	257*	155*	629*	(141)	245*	623*	647*	230	142*
Net change in cash	1*	1*	0	25*	(16)*	(1)*	16	7*	29*	(34)*	14	(4)*

SIC 6798 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6798 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Ares Real Estate Income Trust	41	151	189*	not reported	Q2 FY26 10-QJun 30, 2026
Tanger	177	156	93*	114.9M	Q2 FY26 10-QJun 30, 2026
Sabra Health Care REIT	36	143	129*	262.0M	Q3 FY26 10-QSep 30, 2026
Digital Turbine	43	166	18	121.0M	Q1 FY27 10-QJun 30, 2026
Essential Properties Realty Trust	25	169	118*	220.3M	Q3 FY26 10-QSep 30, 2026
Braemar Hotels & Resorts	94	171	21*	68.7M	Q2 FY26 10-QJun 30, 2026
Independence Realty Trust	16	172	81*	235.9M	Q3 FY26 10-QSep 30, 2026
JBG SMITH Properties	75	129	16*	not reported	Q2 FY26 10-QJun 30, 2026
Brandywine Realty Trust	313	126	not reported	170.0M	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.