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American Realty Investors, Inc. reports recurring updates on a real estate investment business that owns, leases and participates in equity real estate, mortgage loans and mortgage receivables. Its operating discussion centers on multifamily properties, commercial real estate, developed and undeveloped land, and its investment in Transcontinental Realty Investors, Inc.
Company news commonly covers quarterly operating results, rental revenue, occupancy at multifamily and commercial properties, lease-up activity at Alera, Bandera Ridge and Merano, and property-level developments such as Stanford Center. Updates also include real estate transactions, including multifamily property sales and single-family lot sales from Windmill Farms, along with related gains and balance-sheet effects.
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American Realty Investors (NYSE:ARL) reported a net income of $16.3 million or $1.01 per diluted share for Q2 2022, a significant recovery from a net loss of $27.3 million in Q2 2021. The company collected approximately 97% of rents, with 93% occupancy in multifamily properties. However, rental revenues dropped $2.9 million due to property sales. The net operating loss decreased to $3.0 million, mainly due to reduced legal costs, while net income benefitted from a $29.6 million arbitration settlement and currency gains.
American Realty Investors, Inc. (NYSE: ARL) published its Q1 2022 financial results, reporting a net income of $11.3 million ($0.70 per diluted share), down from $18.1 million ($1.12 per diluted share) in Q1 2021. Rental revenues fell by $2.9 million to $7.5 million, primarily due to the sale of org value="ACORN:4290649532"Las Colinas. The company achieved a rent collection rate of about 98%, with total occupancy at 90%. A significant milestone included the sale of a multifamily property for $26.8 million.
American Realty Investors, Inc. (NYSE: ARL) reported a net loss of $6.8 million, or $0.42 per diluted share, for the quarter ended December 31, 2021, a notable decline from a net income of $0.4 million in the same quarter of 2020. Rental revenues fell sharply by $9.8 million to $7.6 million, largely due to a prior lease termination payment and decreased occupancy in commercial properties. The total occupancy rate was 91%, with multifamily occupancy at 95% and commercial at 70%. Notably, the company executed a Major Decision for property sales and sold a multifamily property for $26.8 million.
Pillar Income Asset Management has appointed Bradley J. Muth as President & CEO, who also leads American Realty Investors, Inc. (NYSE: ARL), Transcontinental Realty Investors, Inc. (NYSE: TCI), and Income Opportunity Realty Investors, Inc. (AMEX: IOR). Muth aims to expand the Companies' multi-family apartment portfolio in the Sunbelt markets, targeting over 15,000 new units. The strategy includes selective divestiture of non-core assets. Muth brings over 30 years of real estate experience and previously managed over $8 billion in real estate investments.