$47.46▼ −1.01 · −2.1%from $48.47 the session before · Sep 30, 2026 close · end of day
Open
$47.98
High
$48.10
Low
$47.18
Day's range
$0.921.9% of the previous close
VWAP
$47.55close −0.19% from it
Volume, shares
1.61M0.89× the 20-session average
Traded, $
$76.8M
Trades
21K77 shares per trade
Previous close
$48.47−1.01 to the close
Market cap
$8.27Bat the close of Sep 30
Day range31% of the way up
$47.18$48.10
52-week range45% of the way up
$39.41 Apr 28$57.28 Sep 18
−17% from the high · +20% from the low
Options
No listed options on ARE
Close $ · S&P 500 rebased to the first close126 sessions to Sep 30 · axis fixed at 4 × ATR-14 around the last close · hover or tap a session and the read beside the chart follows it
consolidated · latest filed Aug 3, 2026 · SEC filings
Profit −$72.8M in the Jun 2026 quarter, consolidated.
Last 8 quarters, consolidatedUS dollars as filed · year on year against the same quarter a year earlier · market: close on the first session after the filing against the last close before it, S&P 500 over the same session
Quarterly results of ARE on the consolidated basis with the market's move on the first session after each filing
Quarter
Revenue $
Revenue YoY
Profit $
Profit YoY
EPS $
Market on the day
Jun 2026filed Aug 3
—
—
−$72.8M
—
-0.43
▼ −7.8%S&P 500 +1.8% · −9.6 pp
Mar 2026filed Apr 27
—
—
$361.7M
—
2.10
▼ −11.3%S&P 500 −0.5% · −10.8 pp
Dec 2025filed Jan 26
—
—
−$1.08B
—
-6.35
—not reached
Sep 2025filed Oct 27
—
—
−$232.8M
▼ −240%
-1.38
—not reached
Jun 2025filed Aug 3
—
—
−$107.0M
▼ −330%
-0.64
▼ −7.8%S&P 500 +1.8% · −9.6 pp
Mar 2025filed Apr 27
—
—
−$8.9M
▼ −110%
-0.07
▼ −11.3%S&P 500 −0.5% · −10.8 pp
Dec 2024filed Jan 27
—
—
−$62.2M
—
-0.38
—not reached
Sep 2024filed Oct 27
—
—
$167.9M
▲ +590%
0.96
—not reached
By fiscal yearfiscal years as filed in the 10-K · named by the year the fiscal year ends
Financial-year results of ARE on the consolidated basis, summed from the quarters filed
Year
Revenue $
Revenue YoY
Profit $
Profit YoY
EPS $
FY25to Dec 2025
—
—
−$1.43B
▼ −540%
-8.44
FY24to Dec 2024
—
—
$322.9M
▲ +210%
1.80
FY23to Dec 2023
—
—
$103.6M
▼ −80%
0.54
FY22to Dec 2022
—
—
$521.7M
▼ −8.7%
3.18
FY21to Dec 2021
—
—
$571.2M
▼ −26%
3.82
Fundamentals
consolidated · filings to Jun 2026 · close $47.46 on Sep 30
0.53 times book value, a 4.5% dividend yield, market cap $8.27B.
Valuation
Market cap
$8.27Bon Sep 30
Price to earnings
—
Trailing EPS
$-6.06diluted · consolidated · four quarters to Jun 2026
Price to book
0.53consolidated · balance sheet to Jun 2026
Book value a share
$89.26consolidated · balance sheet to Jun 2026
Debt to equity
0.82borrowings over equity · consolidated · balance sheet to Jun 2026
Return on equity
-6.3%trailing profit over average equity · consolidated
Dividend yield
4.5%$2.16 a share in 365 days
Price to sales
—
Shares outstanding
174Mon Sep 30
Growthsums of the four quarters filed to Jun 2026 · growth against the four quarters before them · consolidated
Revenue, trailing 12 months
—
Revenue growth, 12 months
—
Revenue 3-year CAGR
—trailing twelve months against the twelve months 3 years earlier · consolidated
Profit, trailing 12 months
−$1.02Bfour quarters to Jun 2026
Profit growth, 12 months
—
Profit 3-year CAGR
—
Shareholding
quarter to Jun 2026 · SEC Form 13F
13F managers hold 150% of shares, BlackRock, Inc. the largest at 25%, NORGES BANK 19% and STATE STREET CORP 12%, as filed for the quarter to Jun 2026.
24.9%18.9%12.2%95.7%
BlackRock, Inc. 24.9%
NORGES BANK 18.9%
STATE STREET CORP 12.2%
Other 13F managers 95.7%
Held by 13F managers
150%of shares outstanding
Shares held
264M−17% on Mar 2026 among managers filing both
Managers holding
547520 a quarter earlier
Largest holder
25%BlackRock, Inc.
Largest 10 holderspercent of shares outstanding · change in shares against the previous quarter
Largest 13F holders of ARE
Manager
Shares
Of outstanding
Value
Change on quarter
BlackRock, Inc.
43.4M
25%
$2.29B
+4M
NORGES BANK
32.9M
19%
$1.74B
—
STATE STREET CORP
21.2M
12%
$1.14B
−133K
VANGUARD PORTFOLIO MANAGEMENT LLC
14M
8.0%
$740.0M
−13.7M
APG Asset Management US Inc.
14M
8.0%
$740.2M
unchanged
VANGUARD CAPITAL MANAGEMENT LLC
10.8M
6.2%
$573.0M
−10.6M
GEODE CAPITAL MANAGEMENT, LLC
9.24M
5.3%
$487.3M
+218K
AQR CAPITAL MANAGEMENT LLC
7.65M
4.4%
$404.2M
+2.46M
Invesco Ltd.
7.08M
4.1%
$374.2M
−6.57M
MORGAN STANLEY
5.9M
3.4%
$311.7M
+335K
Insider tradesSEC Forms 3, 4 and 5 · the latest 10
No open-market insider buying or selling in the last 90 days.
ARE insider trades
Insider
Trade
Shares
Price
Held after
Binda Marc EOfficer
sold · Jun 9, 2026
2,000
$54.00
188,264
Moglia Peter MOfficer
withheld for tax · May 29, 2026
1,067
$49.68
375,158
MARCUS JOEL SDirector,Officer
bought · May 6, 2026
3,511
$46.74
587,724
MARCUS JOEL SDirector,Officer
bought · May 6, 2026
3,989
$45.99
584,213
MARCUS JOEL SDirector,Officer
bought · May 5, 2026
2,062
$41.89
574,786
MARCUS JOEL SDirector,Officer
bought · May 5, 2026
1,606
$43.70
580,224
MARCUS JOEL SDirector,Officer
bought · May 5, 2026
3,832
$42.76
578,618
MARCUS JOEL SDirector,Officer
bought · May 4, 2026
10,000
$41.02
572,724
Moglia Peter MOfficer
withheld for tax · Apr 30, 2026
1,069
$40.51
376,225
Thomas Gregory CalvinOfficer
bought · Apr 30, 2026
3,500
$41.00
33,024
Corporate actions
exchange records
Nothing upcoming on record; the last was a dividend of $0.72 a share, ex-date Sep 30, 2026.
Actionsex-dates · upcoming first, then the last eight · dividends in dollars a share, splits as ratios
Corporate actions of ARE, upcoming first, then the most recent
Ex-date
Action
Amount or ratio
Record date
recent
Sep 30, 2026
dividend
$0.72
—
Jun 30, 2026
dividend
$0.72
—
Mar 31, 2026
dividend
$0.72
—
Calendardividends by ex-date
Dividends in 365 days
$2.16a share · ex-dates inside the year
Last dividend
$0.72ex-date Sep 30, 2026
Price history
131 sessions on record · to Sep 30 · end of day
ARE is −8.1% over 20 sessions against the S&P 500's +0.1%, 17% below its 52-week high, realised volatility 41% annualised.
Returns against S&P 500longest window first · S&P 500 over the same sessions
Returns of the stock and S&P 500 over six windows, longest first
Window
From $
ARE %
S&P 500 %
Difference pp
120 sessionssince Apr 9
$43.99
▲ +7.9%
▲ +12%
−4.3
60 sessionssince Jul 7
$49.41
▼ −3.9%
▲ +2.0%
−5.9
20 sessionssince Sep 1
$51.63
▼ −8.1%
▲ +0.11%
−8.2
5 sessionssince Sep 23
$51.86
▼ −8.5%
▼ −0.67%
−7.8
1 sessionsince Sep 29
$48.47
▼ −2.1%
▼ −0.21%
−1.9
Averages of the closeclose against each average
5-session average
$49.00close −3.1% from it
20-session average
$51.60close −8.0% from it
50-session average
$51.07close −7.1% from it
Range and volumetrue range over 14 sessions · high to low over 20 · volume against the 20-session average
Average true range, 14
$1.93.9% of the close
Average day's range, 20
$1.63.4% of the close
Volume against 20 sessions
0.89×1.61M vs 1.8M average
Volatility and co-movement with S&P 500annualised from daily returns
Realised volatility, 20
41%≈ ±2.6% a session · moved more than that on 6 of 20
Realised volatility, 60
44%≈ ±2.8% a session · moved more than that on 14 of 60
Beta to S&P 500, 60
0.14moved with S&P 500 on 38 of 60 sessions
Up and down sessionscloses above and below the previous close
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