Ares Capital (ARCC)
Provides direct loans and investments to private U.S. middle-market companies.
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Provides direct loans and other investments to private U.S. middle-market companies, focusing on senior secured credit alongside subordinated debt and equity. An external Ares adviser originates, underwrites, and monitors the portfolio, while BDC rules shape leverage, distributions, and access to capital.
Provides direct loans and other investments to private U.S. middle-market companies, with a portfolio centered on senior secured loans and complemented by subordinated debt and equity. Income comes mainly from borrower interest, fees, and investment gains.
Operates as an externally managed business development company. Ares Capital Management supplies origination, underwriting, monitoring, and capital-markets resources, while a separate Ares affiliate provides administration. This structure extends the broader Ares credit platform to a publicly traded balance sheet.
Execution rests on direct sourcing, credit selection, secured positioning, and ongoing portfolio monitoring. Results depend on borrower repayment, collateral recovery, non-accrual levels, and continued access to debt and equity markets. BDC and regulated-investment-company rules also shape leverage, distributions, and retained capital.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 12, 2026 | Wells Fargo | Downgrade | Target: $21 | Target: $19 |
| Oct 29, 2025 | RBC Capital | Reiterate | Rating: —Target: $22 | Target: $23 |
| Oct 29, 2025 | Wells Fargo | Reiterate | Rating: —Target: $21.50 | Target: $21 |
| Oct 14, 2025 | UBS | Reiterate | Rating: —Target: $22 | Target: $21 |
| Oct 10, 2025 | Capital One Financial | Target | Target: — | Target: $22.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $383.0M · Total debt $15.77B · Total assets $30.50B · Shareholders' equity $13.89B
- Revenue
- $768.0M
- Operating income
- $581.0M
- Net income
- $171.0M
HistoryDividendAnnual yield
| Institutions | 33.86% | 243.12M shares | |
|---|---|---|---|
| 814 holders · as of Jun 30, 2026 | |||
| Insiders | 0.03% | 191.1K shares | |
| 7 holders · as of Feb 10, 2026 | |||
| Other | 66.11% | 474.71M shares | |
| remainder | |||
718.02M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Morgan StanleyInstitution | 2.37% | 17.02M | as of Jun 30, 2026 |
UBS Group AGInstitution | 1.92% | 13.78M | as of Jun 30, 2026 |
Van Eck Associates CorpInstitution | 1.85% | 13.31M | as of Jun 30, 2026 |
STRS OhioInstitution | 1.48% | 10.66M | as of Jun 30, 2026 |
Bank of America Corp /DE/Institution | 1.24% | 8.94M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 9, 2026 | Jana Markowicz | officer: Chief Operating Officer | +15,000 | $19.20 |
| Feb 5, 2026 | Michael Kort Schnabel | officer: Chief Executive Officer | +12,500 | $19.13 |
| Feb 5, 2026 | Mary Beth Henson | director | +4,000 | $19.14 |
| Feb 6, 2026 | Scott C. Lem | officer: CFO and Treasurer | +5,186 | $19.29 |
| Oct 31, 2025 | Michael Kort Schnabel | officer: Chief Executive Officer | +13,000 | $20.39 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ares Capital | $19.22 | −0.75% | $13.90B | 14.3 | 10.0 | 6.0 | +32.6% |
| Blue Owl Capital | $10.97 | −1.57% | $5.53B | 19.9 | 8.5 | 3.9 | −20.8% |
| Blackstone Secured Lending Fund | $24.62 | −0.42% | $5.75B | 19.5 | 9.4 | 5.4 | +25.9% |
| FS KKR Capital | $11.21 | −0.88% | $3.17B | — | 7.2 | 3.3 | +11.5% |
| Golub Capital BDC | $12.46 | −0.60% | $3.26B | 22.8 | 9.7 | 4.6 | −14.2% |
| Main Street Capital | $55.27 | −1.31% | $5.21B | 11.3 | 14.5 | 7.4 | −26.1% |
| Median | 19.7 | 9.4 | 4.6 | −14.2% |