---
schema_version: "secwatch.filing_event.v1"
accession: "0001102238-23-000014"
form_type: "8-K"
ticker: "ARL"
cik: "0001102238"
company_name: "AMERICAN REALTY INVESTORS INC"
filed_at: "2023-05-12T23:59:59+00:00"
generated_at: "2026-06-15T02:09:15.381393+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# American Realty Investors Q1 net income drops to $3.0M from $11.3M YoY

## Summary
- Net income attributable to common shares was $3.0M ($0.18 diluted EPS) vs $11.3M ($0.70) in Q1 2022.
- Rental revenues increased to $11.0M from $7.5M, driven by multifamily acquisitions offset by commercial declines.
- Total occupancy 80% (multifamily 92%, commercial 59%) as of March 31, 2023.
- Paid off $67.4M Series C bonds in Jan and $43.1M Series A/B bonds in May 2023; subsidiary exited Tel-Aviv Stock Exchange.
- Entered agreement to develop a 240-unit multifamily property in Lake Wales, FL for ~$55.3M, funded partly by $33.0M construction loan.

## SEC filing metadata
- accession: 0001102238-23-000014
- form_type: 8-K
- ticker: ARL
- cik: 0001102238
- company_name: AMERICAN REALTY INVESTORS INC
- filed_at: 2023-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1102238/000110223823000014/0001102238-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1102238/000110223823000014/arl-20230511.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001102238-23-000014
- JSON: https://secwatch.observer/filing/0001102238-23-000014.json
- Plain text: https://secwatch.observer/filing/0001102238-23-000014.txt

## Key facts
- Earnings Releases
  AMERICAN REALTY INVESTORS INC reported the three months ended March 31, 2023 results: revenue $11.0 million, net income $3.0 million, EPS $0.18 per diluted share.
  - Period: the three months ended March 31, 2023
  - Revenue: $11.0 million
  - Net income: $3.0 million
  - EPS: $0.18 per diluted share
  - Result: reported results
  source text: Capital Ltd. withdrew from the Tel-Aviv Stock Exchange . Financial Results Rental revenues increased $3.5 million from $7.5 million for the three months ended March 31, 2022 to $11.0 million for the three months ended March 31, 2023 . The increase in rental revenue is primarily due to $4.1 million increase at our multifamily properties offset in part by a decrease of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1102238/000110223823000014/0001102238-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.