American Realty Investors posts Q3 net loss of $17.5M on $23.4M litigation settlement

AMERICAN REALTY INVESTORS INC

2024-Q3 EPS reported -$0.90 revenue$35,279,000

Net loss of $17.5M ($1.08 diluted EPS) vs. net income of $3.0M ($0.18 diluted EPS) in Q3 2023.
Rental revenues fell to $11.1M, down $0.8M YoY; overall occupancy at 79%.
Accrued $23.4M loss from Clapper litigation settlement, driving net loss.
Obtained $27.5M construction loan for 234-unit Mountain Creek multifamily development (total cost ~$49.8M).
Signed 45k sq ft Stanford Center lease, increasing occupancy 14% and rent 20% over prior leases.

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