American Realty Investors, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 12, 2022 at 04:34 pm
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American Realty Investors, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 7.26 million compared to USD 10.19 million a year ago. Revenue was USD 8.13 million compared to USD 11.1 million a year ago. Net income was USD 16.31 million compared to net loss of USD 27.33 million a year ago. Basic earnings per share from continuing operations was USD 1.01 compared to basic loss per share from continuing operations of USD 1.69 a year ago. Diluted earnings per share from continuing operations was USD 1.01 compared to diluted loss per share from continuing operations of USD 1.69 a year ago.
For the six months, sales was USD 14.74 million compared to USD 20.56 million a year ago. Revenue was USD 15.92 million compared to USD 22.93 million a year ago. Net income was USD 27.63 million compared to net loss of USD 9.26 million a year ago. Basic earnings per share from continuing operations was USD 1.71 compared to basic loss per share from continuing operations of USD 0.57 a year ago. Diluted earnings per share from continuing operations was USD 1.71 compared to diluted loss per share from continuing operations of USD 0.57 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.