Ares Real Estate Income Trust Inc.
ZAREInvestment snapshot
Positive
1
BUY / PASS
Neutral / negative
0 / 1
NEUTRAL / FAIL
Median fair value
—
No comparable estimates
Models with upside
0 / 2
Positive margin of safety
Strongest signal
All 2 investors pass ZARE's cash flow
Key risk
All 2 investors flag ZARE's efficiency
Framework analysis
| Verdict | Meaning |
|---|---|
| BUY | Positive purchase signal: the framework's buy requirements are met. |
| PASS | The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state. |
| NEUTRAL | Neither a positive nor negative conclusion. It does not mean to hold an existing position. |
| FAIL | The company does not clear the framework's requirements. |
| Ranked | Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL. |
Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.
| Metric | Piotroski F-Score | Sleep Scale Economies Shared |
|---|---|---|
| Verdict | FAIL | PASS |
| Score | ||
| Analysis | Checking access… | Checking access… |
| Intrinsic Value (annual) | N/A | N/A |
| Margin of Safety | N/A | N/A |
| Financial Basis | Annual history · FY 2025 Latest source filing: 2026-03-06 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-03-06 Score computed: 2026-11-14 |
Where It Passes
- Cash Flow100% pass✓ 3▾
All 2 investors pass ZARE's cash flow
Operating Cash Flow$253.6M✓PiotroskiCFO > 0(CFO / Total Assets) vs ROACFO/Assets=3.49%, ROA=-0.94%✓PiotroskiCFO/Assets > ROAPositive Operating Cash Flow frequency19/20 years positive✓SleepPositive OCF in >= 70% of available years
Where It Falls Short
- Efficiency0% pass✗ 3▾
All 2 investors flag ZARE's efficiency
Current Ratio Change YoY✗PiotroskiIncreased YoYRevenue / Total Assets Change YoY0.07x -> 0.07x✗PiotroskiImproved YoYROIC (5-year)0/5 years above 12% (latest 7.2%)✗SleepROIC > 12% in a majority of years - Profitability50% pass✓ 2✗ 3▾
1 of 2 pass — Piotroski objects
Net Income / Total Assets-0.94%✗PiotroskiROA > 0ROA Change YoY-0.65% -> -0.94% (delta: -0.29%)✗PiotroskiCurrent ROA > Prior ROA(CFO / Total Assets) vs ROACFO/Assets=3.49%, ROA=-0.94%✓PiotroskiCFO/Assets > ROAGross Margin Change YoY✗PiotroskiImproved YoYRevenue growth vs. gross and operating margin trendrevenue up, operating margin 66.4% -> 66.5%✓SleepRevenue rising; gross margin flat or falling; operating margin holding - Verdicts50% pass✓ 1✗ 1▾
Split decision: 1 FAIL · 1 PASS
Overall verdict✗PiotroskiFAIL (F-Score 3)✓SleepPASS (3/6)
Business & financials
Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.
Company Profile
Financial Snapshot
Depreciation distorts REIT earnings and book value, so FFO-based criteria replace P/E and free-cash-flow tests, and P/B tests are omitted.
Shareholder Return
Fiscal 2025
Issued 12.2% of shares last year, 28.0% issued over two.
- Buybacks
- $122.4M
- Dividends
- $94.6M
Company Financials
Latest TTM and quarters alongside annual years
TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.
The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.
| Metric | TTM · 2026-09-30 2025-10-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: revenue, net income, operating income, ebit, pre tax income, interest expense, operating cash flow, depreciation amortization, dividends paid, re sale gains, buybacks. | Q3 FY 2026 2026-07-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, dividends paid, buybacks. | Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, dividends paid, buybacks. | Q1 FY 2026 2026-01-01 – 2026-03-31 Sources | FY 2025Sources
| FY 2024Sources
| FY 2023Sources
| FY 2022Sources
| FY 2021Sources
|
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Revenue | $600.6M↑29% | $162.9M↑33% | $151.2M↑28% | $145.1M↑25% | $498.8M↑19% | $417.5M↑18% | $353.2M↑18% | $299.2M↑37% | $218.3M |
| Operating Income | $414.4M↑34% | $110.8M↑40% | $106.1M↑36% | $100.0M↑30% | $331.6M↑18% | $281.3M↑20% | $234.4M↑20% | $195.3M↑31% | $148.6M |
| Net Income | -$89.6M↓65% | -$35.5M↓329% | -$13.7M↑40% | -$21.3M↓18% | -$68.0M↓83% | -$37.1M↑41% | -$62.4M↓56% | -$40.0M↓230% | $30.8M |
| EPS (Diluted) | -- | $-0.14↓180% | $-0.06↑54% | $-0.10 | $-0.37↓85% | $-0.20↑35% | $-0.31↓48% | $-0.21↓205% | $0.20 |
| Gross Margin | — | — | — | — | — | — | — | — | — |
| Operating Margin | 69.0%↑4% | 68.0%↑5% | 70.2%↑6% | 68.9%↑5% | 66.5%↓1% | 67.4%↑2% | 66.4%↑2% | 65.3%↓4% | 68.0% |
| ROE | -12.3%↓41% | — | — | — | -10.4%↓108% | -5.0%↑37% | -7.8%↓85% | -4.2%↓180% | 5.3% |
| Total Debt | $3.6B↑42% | $3.6B↑42% | $2.5B↑4% | $2.8B↑18% | $3.0B↑10% | $2.7B↑38% | $2.0B↑21% | $1.6B↑19% | $1.4B |
| Shareholders' Equity | $730.9M↑17% | $730.9M↑17% | $750.2M↑15% | $691.6M | $655.4M↓12% | $745.8M↓6% | $795.3M↓16% | $943.3M↑63% | $579.7M |
| Current Ratio | — | — | — | — | — | — | — | — | — |
| Debt / Equity | 4.95↑21% | 4.95↑21% | 3.39↓10% | 4.03↑18% | 4.53↑25% | 3.62↑47% | 2.47↑44% | 1.71↓27% | 2.35 |
| Operating Cash Flow | $185.3M↑269% | -$4.3M↑97% | $189.4M↑991% | -$162.6M↓181% | $253.6M↑250% | -$169.5M↓1162% | $16.0M↓74% | $62.5M↑27% | $49.4M |
| Free Cash Flow | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Score history
Historical Score Timeline
Industry peers
Industry Peers
Similar companies in Trading
ZARE vs Peers — Financial Grading
| Company | Market Cap | Price | Revenue | Net Income | ROE | D/E | Op. Margin | Curr. Ratio | Graham | Buffett | Lynch | Greenblatt | Piotroski | Dreman |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| REALTY INCOME CORPO | $56.1B | $58.82 | $5.7B | $1.1B | 2.7% | 0.63 | 16.8% | — | 2/7 | 1/9 | 3/7 | 0/3 | F-Score 6 | 4/10 |
| Ventas, Inc.VTR | $47.0B | $88.92 | $5.8B | $261.5M | 2.1% | 1.04 | 3.5% | — | 2/7 | 1/9 | 2/7 | 0/3 | F-Score 6 | 2/10 |
| RAYMOND JAMES FINANCIAL INCRJF | $32.4B | $168.64 | $15.9B | $2.1B | 17.1% | 0.28 | — | — | 3/9 | 3/9 | 3/7 | 1/3 | F-Score 6 | 4/11 |
| ROYAL GOLD INCRGLD | $21.7B | $256.89 | $1.0B | $466.3M | 6.5% | 0.13 | 61.9% | 3.12 | 4/9 | 2/9 | 4/7 | 0/3 | F-Score 4 | 4/11 |
| iShares Ethereum Trust ETFETHA | $19.4B | $44.02 | — | $2.3B | — | — | — | — | — | — | — | — | — | — |
| KIMCO REALTY CORPKIM | $17.0B | $25.55 | $2.1B | $584.7M | 5.6% | 0.74 | 36.0% | — | 3/7 | 2/9 | 4/7 | 0/3 | F-Score 7 | 5/10 |
| LandBridge Co LLCLB | $5.6B | $73.15 | $199.1M | $30.1M | 8.9% | 1.65 | 59.5% | 4.87 | 2/9 | 3/9 | 2/7 | 0/3 | F-Score 6 | 3/11 |
| Digital Turbine, Inc.APPS | $927.6M | $7.61 | $565.3M | $37.7M | -19.6% | 1.88 | 6.0% | 1.16 | 1/9 | 2/9 | 2/7 | 1/3 | F-Score 7 | 0/11 |