American Realty Investors, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 12:23 pm
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American Realty Investors, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 11.39 million compared to USD 7.26 million a year ago. Revenue was USD 12.24 million compared to USD 8.13 million a year ago. Net income was USD 0.125 million compared to USD 16.31 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 1.01 a year ago.
For the six months, sales was USD 22.4 million compared to USD 14.74 million a year ago. Revenue was USD 23.93 million compared to USD 15.92 million a year ago. Net income was USD 3.1 million compared to USD 27.63 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 1.71 a year ago.
American Realty Investors, Inc. is a real estate investment company, holds a diverse portfolio of equity real estate located across the United States, including office buildings, apartments, shopping centers, and developed and undeveloped land. The Company's segments include Residential Segment and Commercial Segment. Residential Segment is engaged in the acquisition, development, ownership and management of multifamily properties. Residential Segment provides services that include rental of apartments and other tenant services, including parking and storage space rental. Commercial Segment is engaged in the acquisition, development, ownership and management of commercial properties, which are primarily office properties. Commercial Segment provides services that include rental of office space and other tenant services, including parking and storage space rental. It invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate.