secwatch.observer — SEC 8-K summary
======================================

Issuer:     AMERICAN REALTY INVESTORS INC (ARL)
CIK:        0001102238
Form:       8-K
Filed at:   2023-05-12T23:59:59+00:00
Accession:  0001102238-23-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1102238/000110223823000014/0001102238-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1102238/000110223823000014/arl-20230511.htm
  HTML page:      https://secwatch.observer/filing/0001102238-23-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer