American Realty Investors Q2 net income rises to $1.2M from $0.1M YoY

AMERICAN REALTY INVESTORS INC

2024-Q2 EPS reported $0.18 revenue$23,672,000

Net income attributable to common shares of $1.2M ($0.07 diluted EPS) vs $0.1M ($0.01) in Q2 2023.
Rental revenues declined to $11.2M from $11.4M, driven by a $0.5M drop in commercial property revenue.
Total occupancy 78% (93% multifamily, 48% commercial) at June 30, 2024.
On July 10, 2024, replaced Forest Grove loan with $6.6M loan at SOFR+1.85%, maturing July 2031.
Net operating loss improved to $1.3M from $3.9M, partly due to lower G&A from bonds repaid in 2023.

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