American Realty Investors, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 14, 2019 at 11:17 am EST
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American Realty Investors, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced operating loss was USD 1.866 million compared to operating Income of USD 5.210 million a year ago. Net loss was USD 7.571 million compared to net income of USD 20.351 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to basic earnings per share from continuing operations of USD 1.46 a year ago. Basic loss per share was USD 0.47 compared to basic earnings per share of USD 1.3 a year ago. Diluted loss per share from continuing operations was USD 0.59 compared to diluted earnings per share from continuing operations of USD 1.36 a year ago. Diluted loss per share was USD 0.47 compared to diluted earnings per share of USD 1.21 a year ago. For the nine months, operating loss was USD 7.978 million compared to operating Income of USD 13.745 million a year ago. Net loss was USD 16.496 million compared to net income of USD 25.545 million a year ago. Basic loss per share from continuing operations was USD 1.24 compared to basic earnings per share from continuing operations of USD 1.84 a year ago. Basic loss per share was USD 1.03 compared to basic earnings per share of USD 1.6 a year ago. Diluted loss per share from continuing operations was USD 1.24 compared to diluted earnings per share from continuing operations of USD 1.72 a year ago. Diluted loss per share was USD 1.03 compared to diluted earnings per share of USD 1.5 a year ago.
American Realty Investors, Inc. is a real estate investment company. The Company operates through two segments: the acquisition, development, ownership and management of multifamily properties, and the acquisition, development, ownership and management of commercial properties, which are primarily office properties. The services for its commercial segment include rental of office space and other tenant services, including parking and storage space rental. The services for its multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. The 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 invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate. The Company also holds mortgage receivables.