$ZARE
Ares Real Estate Income Trust Inc.
CIK:0001327978|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Revenues: | ||||
| Rental revenues | $ 140,642,000 | $ 109,218,000 | $ 278,010,000 | $ 215,614,000 |
| Debt-related income | 10,517,000 | 9,065,000 | 18,284,000 | 19,054,000 |
| Total revenues | 151,159,000 | 118,283,000 | 296,294,000 | 234,668,000 |
| Operating expenses: | ||||
| Rental expenses | 45,074,000 | 40,154,000 | 90,184,000 | 79,863,000 |
| Real estate-related depreciation and amortization | 59,498,000 | 46,856,000 | 117,870,000 | 92,729,000 |
| General and administrative expenses | 3,469,000 | 3,149,000 | 6,623,000 | 6,054,000 |
| Advisory fees | 16,894,000 | 12,188,000 | 32,578,000 | 23,592,000 |
| Performance participation allocation | 9,790,000 | 0 | 20,436,000 | 0 |
| Acquisition costs and reimbursements | 1,526,000 | 1,420,000 | 3,391,000 | 2,775,000 |
| Impairment of real estate property | 3,851,000 | 0 | 3,851,000 | 0 |
| Total operating expenses | 140,102,000 | 103,767,000 | 274,933,000 | 205,013,000 |
| Other income (expenses): | ||||
| Income from unconsolidated joint venture partnerships | 51,077,000 | 15,641,000 | 73,686,000 | 19,155,000 |
| Interest expense | (71,316,000) | (58,963,000) | (142,401,000) | (114,347,000) |
| Gain on sale of real estate property | 0 | 506,000 | 0 | 10,489,000 |
| Gain (loss) on financial assets | 396,000 | (1,000) | 557,000 | 14,000 |
| Loss on financing obligations | (9,738,000) | (14,353,000) | (30,209,000) | (18,491,000) |
| (Loss) gain on extinguishment of debt and financing obligations, net | (120,000) | (791,000) | 18,280,000 | (791,000) |
| (Loss) gain on derivative instruments | (110,000) | 0 | 57,000 | 0 |
| Provision for current expected credit losses | 0 | 57,000 | 0 | 156,000 |
| Other income and expenses | 3,486,000 | 2,550,000 | 6,769,000 | 3,865,000 |
| Total other income (expenses) | (26,325,000) | (55,354,000) | (73,261,000) | (99,950,000) |
| Net loss before income tax expense | (15,268,000) | (40,838,000) | (51,900,000) | (70,295,000) |
| Income tax expense | (10,841,000) | (1,658,000) | (14,807,000) | (6,296,000) |
| Net loss | (26,109,000) | (42,496,000) | (66,707,000) | (76,591,000) |
| Net loss attributable to redeemable noncontrolling interests | 106,000 | 149,000 | 265,000 | 275,000 |
| Net loss attributable to noncontrolling interests | 12,350,000 | 19,773,000 | 31,479,000 | 35,716,000 |
| Net loss attributable to common stockholders | $ (13,653,000) | $ (22,574,000) | $ (34,963,000) | $ (40,600,000) |
| Weighted-average shares outstanding-basic (in shares) | 227,061 | 178,395 | 219,110 | 178,511 |
| Weighted-average shares outstanding-diluted (in shares) | 437,263 | 335,463 | 418,642 | 336,450 |
| Net loss attributable to common stockholders per common share-basic (in dollars per share) | $ (0.06) | $ (0.13) | $ (0.16) | $ (0.23) |
| Net loss attributable to common stockholders per common share-diluted (in dollars per share) | $ (0.06) | $ (0.13) | $ (0.16) | $ (0.23) |