ZARE · XBRL financial data

Ares Real Estate Income Trust financial statements, every fiscal year

The same tables from 6 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 years (ZARE's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	187	218	299	353	417	499
General and administrative	9	9	11	12	13	14
Operating income (loss)	122	139	185	234	281	332
Interest expense	59	70	140	149	188	251
Other income (expense)	1	2	3	5	7	11
Income tax expense (benefit)	—	—	0	0	12	18
Net income (loss)	(15)	31	(40)	(62)	(37)	(68)
Earnings per share, basic USD per share	(0.10)	0.20	(0.21)	(0.31)	(0.20)	(0.37)
Earnings per share, diluted USD per share	(0.10)	0.20	(0.21)	(0.31)	(0.20)	(0.37)
Weighted average shares, basic millions of shares	142	155	194	203	188	184
Weighted average shares, diluted millions of shares	154	174	233	268	305	342

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

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	11	11	13	15	20	40
Total assets	2,112	2,991	4,175	4,639	5,731	7,269
Total liabilities	1,610	2,206	2,963	3,516	4,316	5,746
Total stockholders' equity	402	580	786	795	746	655
Total liabilities and equity	2,112	2,991	4,175	4,639	5,731	7,269

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

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(15)	31	(40)	(62)	(37)	(68)
Net cash from operating activities	41	49	63	16	(169)	254
Net cash from investing activities	(420)	(707)	(1,185)	(522)	(919)	(1,610)
Proceeds from issuing common stock	105	252	360	88	30	304
Dividends paid	30	31	50	61	78	95
Proceeds from long-term debt	0	0	275	—	—	—
Net cash from financing activities	293	650	1,125	508	1,096	1,374
Net change in cash	(86)	(7)	3	2	8	18

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.