American Realty Investors, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 13, 2018 at 06:32 pm EST
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American Realty Investors, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported rental and other property revenues of $33,409,000 against $31,807,000 a year ago. This represents an increase of $1.6 million compared to revenues in the same period in 2017. The increase is driven primarily by an increase in revenues of $2.0 million from the company’s apartment-operating segment, offset by a decrease of $0.2 million from the company’s commercial segment, and $0.2 million from the company’s land segment. Net operating income was $5,210,000 against $5,410,000 a year ago. Net income from continuing operations before taxes was $23,408,000 against $9,884,000 a year ago. Net income from continuing operations was $22,616,000 against $9,884,000 a year ago. Net income attributable to the company was $20,351,000 against $9,362,000 a year ago. Net income applicable to the common shares was $20,126,000 against $9,087,000 a year ago. Diluted net income per share from continuing operations were $1.26 against $0.59 a year ago. Income before gain on land sales, non-controlling interest, and taxes was $11,165,000 against loss of $3,938,000 a year ago.
For the nine months, the company reported rental and other property revenues of $96,099,000 against $95,216,000 a year ago. Net operating income was $13,745,000 against $14,709,000 a year ago. Net income from continuing operations before taxes was $29,318,000 against loss of $7,350,000 a year ago. Net income from continuing operations was $28,526,000 against loss of $7,350,000 a year ago. Net income attributable to the company was $25,545,000 against loss of $7,244,000 a year ago. Net income attributable to the common shares was $24,870,000 against loss of $8,069,000 a year ago. Diluted income per share from continuing operations were $1.56 against loss per share of $0.52 a year ago. Income before gain on land sales, non-controlling interest, and taxes was $15,740,000 against loss of $21,142,000 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.
AMERICAN REALTY INVESTORS, INC. 
