Ares Management LP (NYSE:ARES) stock has reached an unprecedented peak, setting an all-time high at $171.53. This milestone underscores the company's robust performance and investor confidence, reflecting a significant 67.02% surge in value over the past year. The impressive ascent to this record price level highlights Ares Management's strong market presence and the positive reception of its strategic initiatives by the investment community. As the stock charts a new territory, stakeholders are closely monitoring the company's future moves and their potential impact on its valuation.
In other recent news, Ares Management Corporation has issued $750 million in senior notes with a 5.600% interest rate, maturing in 2054. The company also announced the acquisition of GLP Capital Partners Limited's international business, excluding its Greater China operations, for $3.7 billion, and initiated a public offering of 27 million shares of Series B Mandatory Convertible Preferred Stock. These recent acquisitions are expected to nearly double Ares Real Estate's assets under management to about $96 billion. Ares Management also acquired Walton Street Capital Mexico, adding approximately $2 billion in industrial real estate assets to its portfolio. TD Cowen and CFRA have reiterated a Buy rating and raised their price target for Ares, while Redburn-Atlantic initiated coverage with a Neutral rating. Ares Management's total assets under management increased by 18% year-over-year, reaching $447.2 billion in the second quarter of 2024, and the company saw a 21% increase in its third-quarter common dividend. The National Football League also approved Ares Management, among other private equity firms, to acquire up to 10% stakes in its teams.
InvestingPro Insights
Ares Management's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market capitalization stands at an impressive $34.43 billion, reflecting its significant presence in the asset management industry. InvestingPro data shows that Ares has delivered a strong 70.78% total return over the past year, corroborating the 67.02% surge mentioned in the article.
Two particularly relevant InvestingPro Tips highlight Ares' current market position. Firstly, the stock is trading near its 52-week high, which is consistent with the all-time high mentioned in the article. Secondly, Ares has shown a large price uptick over the last six months, with InvestingPro data indicating a 32.92% total return in that period.
These insights suggest that Ares Management's recent stock performance is part of a broader trend of strong returns. Investors considering Ares might be interested to know that InvestingPro offers 12 additional tips for a more comprehensive analysis of the company's prospects.
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