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American Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2022American Realty Investors, Inc. (NYSE:ARL) is reporting its results of operations for the quarter ended March 31, 2022. For the three months ended March 31, 2022, we reported net income attributable to the Company of $11.3 million or $0.70 per diluted share, compared to $18.1 million or $1.12 per diluted share for the same period in 2021. Financial Highlights
Financial Results Rental revenues decreased $2.9 million from $10.4 million for the three months ended March 31, 2021 to $7.5 million for the three months ended March 31, 2022. The decrease in rental revenue is primarily due to the sale of 600 Las Colinas in 2021. Net operating loss increased $1.5 million from $3.0 million for three months ended March 31, 2021 to $4.5 million for the three months ended March 31, 2022. The increase in net operating loss is primarily due to the sale of 600 Las Colinas in 2021. Net income attributable to the Company decreased $6.8 million from $18.1 million for the three months ended March 31, 2021 to $11.3 million for the three months ended March 31, 2022. The decrease in net income is primarily attributed to the decrease in gain on sale of land in 2022. About American Realty Investors, Inc. American Realty Investors, Inc., a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., 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. The Company's primary asset and source of its operating results is its investment in Transcontinental Realty Investors, Inc. (NYSE:TCI). For more information, visit the Company's website at www.americanrealtyinvest.com.
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