ZARE — what changed in the latest 10-Q
A section-by-section comparison of ZARE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-13 vs the prior 10-Q · 2025-11-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +91 | −83 | ~52 | 34 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~5 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~3 | 2 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-13
Additionally, we have a program to raise capital through private placement offerings by selling DST Interests. During the three months ended March 31, 2026, we sold $330.4 million of gross interests related to the DST Program, $29.2 million of which were financed by DST Program Loans. See “Note 6 to…
As of March 31, 2026, we had four floating-rate debt-related investments with a weighted-average interest rate of 7.7% and a weighted-average remaining life of 1.5 years. As of March 31, 2026, the aggregate outstanding principal was $183.7 million, the aggregate carrying amount was $183.5 million an…
As of March 31, 2026, we had three investments in securities. As of March 31, 2026, the aggregate fair value of these investments was$123.6 million.
During the three months ended March 31, 2026, we originated four loans through our mortgage loan origination program with a total principal balance of $304.4 million. Additionally, during the three months ended March 31, 2026 we sold one loan totaling $134.9 million, equal to the carrying cost of th…
We currently focus our investment activities primarily across the major U.S. property sectors (residential (which includes and/or may include multi-family and other types of rental housing such as manufactured, student and single-family rental housing), industrial, retail and office (which includes …
Text removed vs the prior filing · source: 10-Q · 2025-11-10
Additionally, we have a program to raise capital through private placement offerings by selling DST Interests. These private placement offerings are exempt from registration requirements pursuant to Rule 506(b) of Regulation D under the Securities Act. We anticipate that these interests may serve as…
We currently group our real property portfolio into five categories: residential, industrial, retail, office and other. The following table summarizes our real property portfolio by category as of September 30, 2025:
(1)Reflects the number of unique markets by category and in total. As such, the total number of markets does not equal the sum of the number of markets by category as certain categories are located in the same market.
(2)Amount calculated as total annualized base rent, which includes the impact of any contractual tenant concessions (cash basis) per the terms of the lease, divided by total lease square footage as of September 30, 2025.
As of September 30, 2025, we had four floating-rate debt-related investments with a weighted-average interest rate of 8.6% and a weighted-average remaining life of 0.9 years. As of September 30, 2025, the aggregate outstanding principal was $180.1 million, the aggregate carrying amount was $179.8 mi…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice