Ares Management Corporation Stock Price, News & Analysis

Ares Capital Corporation (NASDAQ: ARCC) has announced a public offering of 8,000,000 shares of common stock, with an option for underwriters to purchase an additional 1,200,000 shares. The offering will utilize the company's shelf registration statement filed with the SEC on June 3, 2021. Proceeds from the offering are intended to repay certain outstanding debts, with potential reborrowing for general corporate purposes. Investors should review the preliminary prospectus and accompanying prospectus for comprehensive details on investment objectives and associated risks.

Ares Management Corporation (NYSE: ARES) reported approximately $5.9 billion in U.S. direct lending commitments across 58 transactions for Q2 2022, compared to $9.0 billion in the same quarter last year. In the last twelve months, Ares closed approximately $31.8 billion in commitments across 259 transactions, down from $21.8 billion a year prior. Additionally, Ares acquired a portfolio of $2.4 billion in middle market loans during Q2 2022.

Ares Management Corporation (NYSE: ARES) reported its second-quarter financial results for the period ending June 30, 2022. The company recorded a GAAP net income of $39.7 million, with a net income per share of $0.21. After-tax realized income reached $233.3 million, translating to $0.74 per share. Fee-related earnings were $219.8 million, showcasing a 35% increase in assets under management and fee-related earnings. A quarterly dividend of $0.61 per share has also been declared, payable on September 30, 2022.

Marriott International has begun construction on the Gaylord Pacific Resort and Convention Center in Chula Vista, California. This $1.275 billion project will feature 1,600 hotel rooms, numerous dining options, a large convention center, and recreational facilities, with an expected opening in summer 2025. The construction is projected to create over 10,000 jobs temporarily and 4,000 permanent jobs. The project is anticipated to have an economic impact of more than $14 billion for California, highlighting a significant public-private partnership.

Ares Capital Corporation (NASDAQ: ARCC) declared a third-quarter dividend of $0.43 per share, payable on September 30, 2022. This follows a previously declared $0.03 additional dividend. For Q2 2022, Ares reported a core EPS of $0.46, down from $0.53 in Q2 2021. GAAP net income per share also decreased to $0.22 compared to $1.09 year-over-year. Total portfolio investments rose to $21.17 billion, while GAAP net income dropped to $111 million. The debt/equity ratio stood at 1.27x, indicating stable leverage. Ares anticipates increased earnings from rising interest rates.

US Heart & Vascular (USHV) has announced a partnership with Willowbrook Cardiovascular Associates, enhancing its position in Houston and aiming for national expansion. USHV, supported by Ares Management, focuses on improving cardiovascular care through relationships with physician practices. This partnership is expected to enhance care delivery and aims to affiliate with more quality practices across the U.S. Financial terms were undisclosed, with the transaction set to close in Q3 2022, pending customary conditions.

Ares Capital Corporation (NASDAQ: ARCC) will report its second-quarter earnings for the period ending June 30, 2022, on July 26, 2022, before the market opens. A conference call will follow at 12:00 p.m. ET to discuss the financial results. Interested participants can join via telephone or a live webcast, accessible through Ares Capital’s website. The earnings announcement will reflect the company's ongoing focus on investing in private middle-market firms and aims to provide insights into its financial performance.

Ares Management Corporation (NYSE: ARES) will report its earnings for Q2 ended June 30, 2022, on July 28, 2022, prior to NYSE opening. A conference call is scheduled for the same day at 12:00 p.m. ET to discuss the financial results. As of March 31, 2022, Ares managed approximately $325 billion in assets across multiple sectors globally, with around 2,100 employees. Investors can participate via phone or live webcast, and archived replays will be available until August 25, 2022.