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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K
Current Report

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)August 8, 2024

American Realty Investors, Inc.
(Exact name of registrant as specified in its charter)

Nevada001-1566375-2847135
(State or other jurisdiction of 
Incorporation or organization) 		(Commission File Number)(IRS Employer Identification Number)
1603 LBJ Freeway,Suite 800DallasTX75234
(Address of principal executive offices)(Zip Code)
(469) 522-4200
Registrant’s Telephone Number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
 ☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 ☐  Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 230.425)
 ☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Securities Act (17 CFR 240.14d-2(b))
 ☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Securities Act (17 CFR 240.413e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockARLNYSE
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ((17 CFR 230.405 of or Rule 12b-2 of the Securities Act of 1934 (17 CFR 230.405):
☐  Emerging growth company
If an emerging growth company indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Section 2 – Financial Information

Item 2.02. Results of Operations and Financial Condition

On August 8, 2024, American Realty Investors, Inc. (“ARL” or the “Company”) announced its operational results for the quarter ended June 30, 2024. A copy of the announcement is attached as Exhibit “99.1.”

The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits


(d) Exhibits.

The following exhibit is furnished with this Report:

Exhibit No.Description
Press release datedAugust 8, 2024
_________________________
* Furnished herewith






SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AMERICAN REALTY INVESTORS, INC.
Dated: August 8, 2024By:/s/ ERIK L. JOHNSON
Erik L. Johnson
President and Chief Executive Officer



NEWS RELEASEContact:
American Realty Investors, Inc. Investor Relations
FOR IMMEDIATE RELEASE
Erik Johnson (469) 522-4200 investor.relations@americanrealtyinvest.com


American Realty Investors, Inc. reports Earnings for Q2 2024

DALLAS (August 8, 2024) -- American Realty Investors, Inc. (NYSE:ARL) is reporting its results of operations for the three months ended June 30, 2024. For the three months ended June 30, 2024, we reported net income attributable to common shares of $1.2 million or $0.07 per diluted share, compared to net income attributable to common shares of $0.1 million or $0.01 per diluted share for the same period in 2023.

Financial Highlights

•Total occupancy was 78% at June 30, 2024, which includes 93% at our multifamily properties and 48% at our commercial properties.
•On July 10, 2024, we replaced the existing loan on Forest Grove with a $6.6 million loan that bears interest at SOFR plus 1.85% and matures on July 10, 2031.

Financial Results

Rental revenues decreased $0.2 million from $11.4 million for the three months ended June 30, 2023 to $11.2 million for the three months ended June 30, 2024. The decrease in rental revenue is primarily due to an increase of $0.3 million from our multifamily properties offset in part by a decrease of $0.5 million from the commercial properties. The increase in revenue from the multifamily properties is primarily due to the lease-up of Landing on Bayou Cane.

Net operating loss decreased $2.6 million from $3.9 million for the three months ended June 30, 2023 to $1.3 million for the three months ended June 30, 2024. The decrease in net operating loss is primarily due to a decrease in general and administrative expenses associated with our bonds payable, which were repaid in 2023.

Net income attributable to common shares increased $1.0 million from $0.1 million for the three months ended June 30, 2023 to $1.2 million for the three months ended June 30, 2024. The increase in net income is primarily attributed to a decrease in general administrative expenses and loss on extinguishment in debt offset in part by a decrease in interest income.
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.


AMERICAN REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Revenues:
Rental revenues$11,188 $11,389 $22,467 $22,398 
Other income585 850 1,205 1,529 
   Total revenue11,773 12,239 23,672 23,927 
Expenses:
Property operating expenses6,624 7,031 13,258 13,137 
Depreciation and amortization3,137 3,200 6,309 6,302 
General and administrative1,552 3,684 2,960 6,845 
Advisory fee to related party1,737 2,183 3,939 4,588 
   Total operating expenses13,050 16,098 26,466 30,872 
   Net operating loss(1,277)(3,859)(2,794)(6,945)
Interest income4,794 7,898 10,527 16,193 
Interest expense(1,913)(2,480)(3,835)(5,620)
Gain on foreign currency transactions— 22 — 993 
Loss on early extinguishment of debt— (1,710)— (1,710)
Equity in income from unconsolidated joint ventures501 293 984 2,712 
Gain on sale or write-down of assets, net— 188 — 188 
Income tax provision(614)(49)(1,089)(1,289)
Net income1,491 303 3,793 4,522 
Net income attributable to noncontrolling interest(324)(178)(875)(1,419)
Net income attributable to common shares$1,167 $125 $2,918 $3,103 
Earnings per share
Basic and diluted$0.07 $0.01 $0.18 $0.19 
Weighted average common shares used in computing earnings per share
Basic and diluted16,152,043 16,152,043 16,152,043 16,152,043 



v3.24.2.u1
Cover
Nov. 09, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Aug. 08, 2024
Entity Registrant Name American Realty Investors, Inc.
Entity Incorporation, State or Country Code NV
Entity File Number 001-15663
Entity Tax Identification Number 75-2847135
Entity Address, Address Line One 1603 LBJ Freeway,
Entity Address, Address Line Two Suite 800
Entity Address, City or Town Dallas
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75234
City Area Code 469
Local Phone Number 522-4200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol ARL
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001102238
Amendment Flag false
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