American Realty Investors, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 13, 2022 at 04:56 pm EDT
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American Realty Investors, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 7.48 million compared to USD 10.36 million a year ago. Revenue was USD 7.79 million compared to USD 11.83 million a year ago. Net income was USD 11.31 million compared to USD 18.07 million a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to USD 1.12 a year ago. Diluted earnings per share from continuing operations was USD 0.7 compared to USD 1.12 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.