American Realty Investors Q3 net income $3.0M vs $302.3M YoY; rental revenue up to $11.8M

AMERICAN REALTY INVESTORS INC

2023-Q3 EPS reported $0.38 revenue$36,453,000

Net income attributable to common shares of $3.0M ($0.18/diluted) vs $302.3M ($18.72) in Q3 2022, due to absence of VAA portfolio gain.
Rental revenue increased 57% YoY to $11.8M, driven by multifamily acquisition; net operating loss improved to $2.1M from $3.2M.
Total portfolio occupancy 79% at Sep 30, 2023 (multifamily 96%, commercial 49%).
Obtained $25.4M construction loan to build 216-unit multifamily property in McKinney, TX on Nov 6, 2023.
Paid off $1.2M loan on Athens property in August 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN REALTY INVESTORS INC reported the three months ended September 30, 2023 results: revenue $11.8 million, net income $3.0 million, EPS $0.18 per diluted share.

Period: the three months ended September 30, 2023
Revenue: $11.8 million
Net income: $3.0 million
EPS: $0.18 per diluted share
Result: reported results

Exact text from the filing

a 216 unit multifamily property in McKinney, Texas. Financial Results Rental revenues increased $4.3 million from $7.6 million for the three months ended September 30, 2022 to $11.8 million for the three months ended September 30, 2023 . The increase in rental revenue is primarily due to $5.0 million increase at our multifamily properties offset in part by a

View on SEC.gov

Browse all earnings releases →

AMERICAN REALTY INVESTORS INC filing history →

Source: SEC EDGAR

accession 0001102238-23-000024

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.