American Realty Q4 net income $43.4M vs year-ago loss; VAA portfolio acquisition drives results

AMERICAN REALTY INVESTORS INC

Net income $43.4M ($2.69 diluted EPS) vs net loss $6.8M (-$0.42) in Q4 2021.
Received $204M distribution from VAA Sale Portfolio; gained control of seven multifamily properties valued at $219.5M.
Gain on remeasurement of VAA Holdback Portfolio was $73.2M.
Paid off $38.5M loan on Stanford Center (Oct 2022) and $66.5M Series C bonds (Jan 2023).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

AMERICAN REALTY INVESTORS INC reported the quarter ended December 31, 2022 results: revenue $11.8 million, net income $43.4 million, EPS $2.69 per diluted share.

Period: the quarter ended December 31, 2022
Revenue: $11.8 million
Net income: $43.4 million
EPS: $2.69 per diluted share
Result: reported results

Exact text from the filing

cash received from sale of the VAA Sale Portfolio . Financial Results Rental revenues increased $4.1 million from $7.6 million for the three months ended December 31, 2021 to $11.8 million for the three months ended December 31, 2022 . The increase in rental revenue is primarily due to $4.9 million increase at our multifamily properties offset in part by a decrease

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Source: SEC EDGAR

accession 0001102238-23-000009

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