SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under
the Securities Exchange Act
of 1934 (Amendment No. 18)
AMERICAN REALTY INVESTORS,
INC.
(Name of Issuer)
Common
Stock, $0.01 par value
(Title of Class of
Securities)
029174-10-9
(CUSIP Number)
Daniel J. Moos
1603 LBJ Freeway, Suite
800
Dallas, Texas 75234
(469) 522-4200
(469) 522-4360 (Facsimile)
(Name,
Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
June 15, 2020
(Date of Event which Requires
Filing of this Statement)
If the
filing person has previously
filed a statement on
Schedule 13G to report
the acquisition which is the subject of
this Schedule 13D, and is filing
this schedule because of
Rules 13d-1(b)(3) or (4), check the following
box [ ].
NOTE:
Schedules filed in paper format
shall include a signed original and five
copies of the schedule,
including all exhibits. See Rule
13d-7 for other parties
to whom copies are to be sent.
The
remainder of this cover
page shall be filled out
for a reporting persons's initial filing
on this form with respect to the
subject class of securities, and for any
subsequent amendment containing
information which would alter disclosures
provided in a prior cover page.
The
information required on the remainder
of this cover page shall
not be deemed to be "filed"
for the purpose of Section
18 of the Securities Exchange Act
of 1934 ("Act") or otherwise
subject to the liabilities
of that section of the
Act but shall be subject to all other
provisions of the Act (however,
see the Notes).
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
Arcadian Energy, Inc.
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WC and OO
4)
Source of Funds
(See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . .
5)
Check if Disclosure of
Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
. . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nevada
6) Citizenship or Place of
Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
556,491
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
556,491
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
556,491
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)
. . . . . . . . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.48%
13)
Percent of Class
Represented by Amount
in Row (11) .. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
OO
14) Type
of Reporting Person (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
Realty Advisors, LLC
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WC and OO
4)
Source of Funds
(See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . .
5)
Check if Disclosure of
Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
. . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nevada
6) Citizenship or Place of
Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,470,000*
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
2,470,000*
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
3,929,828**
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)
. . . . . . . . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24.57%
13)
Percent of Class
Represented by Amount
in Row (11) .. . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
OO
14) Type
of Reporting Person (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
* 7,921,508
shares were previously reported under Realty Advisors, LLC, but 5,451,508 of such shares are held in accounts of Realty Advisors,
Inc. [the sole Member of Realty Advisors, LLC] and should have been (and are now)
reported there, leaving 2,470,000 Shares owned and held by Realty Advisors, LLC.
** RA Stock
Holdings, Inc., which owns 1,429,828 shares (9.13%), is wholly owned by Realty Advisors, LLC.
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
RA Stock Holdings, Inc.
(formerly, Prime Stock Holdings, Inc.)
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WC
4)
Source of Funds
(See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
5)
Check if Disclosure of
Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
. . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nevada
6) Citizenship or Place of
Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,459,828
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
1,459,828
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
1,459,828
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)
. . . . . . . . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.13%
13)
Percent of Class
Represented by Amount
in Row (11) .. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
CO
14) Type
of Reporting Person (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
Realty Advisors, Inc.
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WC
4)
Source of Funds
(See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
5)
Check if Disclosure of
Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
. . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nevada
6) Citizenship or Place of
Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10,043,501*
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
10,043,501*
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
14,499,824**
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)
. . . . . . . . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
90.64%
13)
Percent of Class
Represented by Amount
in Row (11) .. . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
CO
14) Type
of Reporting Person (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
* At
least 5,451,508 of such shares were previously reported as held by Realty Advisors, LLC, the sole Member of which is Realty Advisors,
Inc., which shares are actually held in accounts of Realty Advisors, Inc.
** Includes
(i) 1,429,828 shares (9.13%) owned by RA Stock Holdings, Inc., which is wholly
owned by Realty Advisors, LLC,
(ii) 2,470,000 shares (15.44%) owned by Realty Advisors, LLC, the sole member of which is Realty Advisors, Inc.,
(iii)
556,495 shares (3.48%) owned by Arcadian Energy, Inc.,
which is wholly owned by Realty Advisors, Inc., and (iv) 10,043,501 shares (62.78%) owned by Realty Advisors, Inc.
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
Transcontinental Realty
Investors, Inc.
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
OO
4)
Source of Funds
(See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
5)
Check if Disclosure of
Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
. . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nevada
6) Citizenship or Place of
Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
140,000*
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
140,000*
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
-0-
10) Shared
Dispositive Power . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
140,000*
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)
. . . . . . . . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . .
0.94%
13)
Percent of Class
Represented by Amount
in Row (11) .. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
CO
14) Type
of Reporting Person (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
* 229,214
shares were previously reported, but a physical count in June 2018 revealed only 140,000
held. As the shares were previously pledged as collateral to Metropolitan Savings,
it is believed that such institution sold 89,214 shares into the market.
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
The Gene E. Phillips Children’s
Trust
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
OO
4)
Source of Funds
(See Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
5)
Check if Disclosure of
Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
. . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Texas
6) Citizenship or Place of
Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27,602
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
27,602
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
27,602
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)
. . . . . . . . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
0.172%
13)
Percent of Class
Represented by Amount
in Row (11) .. . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .
OO
14) Type
of Reporting Person (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
|
|
1)
|
Names of
Reporting Persons I.R.S.
Identification Nos. of Above
Persons (entities
only)
|
May Realty Holdings,
Inc. (formerly, Realty Advisors Management, Inc.)
. . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
|
|
2)
|
Check the
Appropriate Box
if a Member of
a Group (See Instructions)
|
(a)
.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . .
3) SEC
Use Only . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WC
4) Source
of Funds (See
Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5) Check
if Disclosure of Legal
Proceedings is Required Pursuant to Items
2(d) or 2(e) . . . . . . . .
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nevada
6) Citizenship
or Place of
Organization .. . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
-0-
7) Sole Voting Power ..............................................................................................
Number of ___________________________________________________________________________
Shares
-0-
Beneficially 8) Shared Voting Power ..........................................................................................
Owned by ___________________________________________________________________________
Each Reporting
-0-
Person With 9) Sole Dispositive Power .......................................................................................
___________________________________________________________________________
-0-
10) Shared Dispositive Power ...................................................................................
-0-
10) Shared
Dispositive Power . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14,499,824*
|
|
11)
|
Aggregate Amount
Beneficially Owned
by Each
Reporting Person . . . . . . . . .
. . . . . . . . . . . . .
|
|
|
12)
|
Check if the
Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) . . . . .
|
. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
90.64%
|
|
13)
|
Percent of
Class Represented by
Amount in Row
(11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
|
CO
14) Type
of Reporting Person (See
Instructions) .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
* Includes
(i) 1,429,828 Shares (9.13%) owned by RA Stock Holdings, Inc.,
which is wholly owned by Realty
Advisors, LLC, (ii) 2,470,000 Shares (15.44%) owned directly by Realty Advisors, LLC, the sole member of which is Realty Advisors,
Inc., (iii) 556,495 Shares (3.48%) owned by Arcadian Energy, Inc., which is a wholly
owned subsidiary of Realty Advisors, Inc., and (iv) 10,043,501 Shares owned directly by Realty Advisors, Inc., which is wholly
owned by May Realty Holdings, Inc.
Item 1. Security and Issuer
This
Amendment No. 18 to Statement on Schedule 13D (this “Amendment No. 18”) relates to shares of Common Stock, par
value $0.01 per share (the “Shares”) of American Realty Investors, Inc., a Nevada corporation (the “Issuer”
or “ARL”), and further amends the original Statement on Schedule 13D as amended by Amendment Nos. 1 through
16 thereto (the “Amended Statement”) previously filed with the Securities and Exchange Commission (the “Commission”)
by the “Reporting Persons” described below. The principal executive offices of the Issuer are located at 1603 LBJ Freeway,
Suite 800, Dallas, Texas 75234. The Shares are listed and traded on the New York Stock
Exchange (“NYSE”). The CUSIP number of the Shares is 029174-10-9.
This
Amendment No. 18 to Schedule 13D is being filed to reflect the correct number of Shares held by two of the Reporting Persons, following
account confirmations concluded on June 15, 2020.
Item 2. Identity and Background
Item 2 of the Amended Statement is hereby further amended
as follows:
(a)-(c)
This Amendment No. 18 is filed on behalf of The Gene E. Phillips Children’s Trust, a trust formed under the laws of the State
of Texas (the “GEP Trust”), Transcontinental Realty Investors, Inc., a Nevada corporation (“TCI”),
May Realty Holdings, Inc. (formerly, Realty Advisors Management, Inc.), a Nevada corporation (“MRHI”), Realty
Advisors, Inc., a Nevada corporation (“RAI”), the sole stockholder of which is MRHI, Realty Advisors, LLC, a
Nevada limited liability company (“RALLC”), the sole member
of which is RAI and RA Stock Holdings, Inc. (formerly, Prime Stock Holdings, Inc.),
a Nevada corporation (“Holdings”), which is wholly owned by RALLC and Arcadian Energy, Inc., a Nevada corporation
(“AEI”), which has been, since December 21, 2017, a wholly owned subsidiary of RAI. Each of the Reporting Persons
has its principal executive offices located at 1603 LBJ Freeway, Suite 300, Dallas, Texas 75234. All of GEP Trust, TCI, MRHI, RAI,
RALLC, Holdings and AEI are collectively referred to as the “Reporting Persons.” The Reporting Persons may be
deemed to constitute a “person” within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended,
because Holdings is owned by RALLC, the
sole member of which is RAI, the sole stockholder of which is MRHI, which is beneficially owned by a trust established for the
benefit of Gene E. Phillips’ children. RALLC owns all of the voting securities of Holdings. RAI owns all of the voting securities
of AEI. The executive officers of TCI are also executive officers of MRHI, RAI and RALLC. Bradford A. Phillips serves as a Vice
President of MRHI and is one of the beneficiaries of the GEP Trust. The executive officers of ARL are also executive officers of
TCI.
Item 5. Interest in Securities of the Issuer
The Amended Statement is hereby further amended as follows:
(a)
According to the latest information available from the Issuer, as of May 14, 2020, the total number of issued and outstanding
Shares was 15,997,076. After giving effect to the matters described in item 5(c), the Reporting Persons own and hold directly and
beneficially the following Shares as of June 15, 2020:
|
Name
|
No. of Shares Owned
Directly
|
Approximate Percent
of Class
|
|
AEI
|
556,495
|
3.48%
|
|
GEP Trust
|
27,602
|
0.172%
|
|
TCI
|
140,000
|
0.88%
|
|
RALLC
|
2,470,000
|
15.44%
|
|
RAI
|
10,043,501
|
62.78%
|
|
MRHI
|
-0-
|
0.00%
|
|
Holdings
|
1,459,828
|
9.13%
|
|
|
14,667,426
|
91.69%
|
Pursuant
to Rule 13d-3 under the Exchange Act, each of the directors of Holdings may be deemed to beneficially own the number of Shares
owned by Holdings described above; each of the directors of MRHI may be deemed to beneficially own the number of Shares owned by
RAI, RALLC, Holdings and AEI described above; each of the managers of RALLC may be deemed to beneficially own the number of Shares
beneficially owned by RALLC and Holdings; each of the directors of RAI may be deemed to beneficially own the number of Shares owned
by RALLC, Holdings and AEI described above; the director of AEI may be deemed to beneficially own the number of Shares of AEI described
above; each of the directors of TCI may be deemed to beneficially own the number of Shares owned by TCI described above; the Trustees
of the GEP Trust may be deemed to beneficially own the Shares held directly by the GEP Trust. Those individuals and the number
of Shares deemed beneficially owned pursuant to Rule 13d-3 and the approximate percent of the class, as well as the relationship,
as of June 15, 2020, are set forth in the following table:
|
Name of Director and/or
Manager
|
Entity
|
No. of Shares Beneficially
Owned
|
Percent
of Class
|
|
Donald W. Phillips
|
GEP Trust
|
27,602
|
0.172%
|
|
Mickey Ned Phillips
|
AEI, RALLC,
MRHI, Holdings, and RAI
|
14,499,824
|
90.64%
|
|
Henry A. Butler
|
TCI
|
140,000
|
0.88%
|
|
William J. Hogan
|
TCI
|
140,000
|
0.88%
|
|
Robert A. Jakuszewski
|
TCI
|
140,000
|
0.88%
|
|
Ted R. Munselle
|
TCI
|
140,000
|
0.88%
|
|
Robert C. Murray, Sr.
|
AEI
|
556,495
|
3.48%
|
|
Raymond D. Roberts
|
TCI
|
140,000
|
0.88%
|
|
Gina Kay
|
RALLC
|
2,470,000
|
15.44%
|
|
Daniel J. Moos+
|
RALLC
|
2,470,000
|
15.44%
|
|
Christine Van Derwarker
|
AEI
|
556,495
|
3.48%
|
Total Units beneficially owned by Reporting
Persons
and individuals listed above (9 persons): 7,688,746*t✓ 88.20%
+ Daniel
J. Moos owns directly 5,000 Shares, which are not included in the table.
(b)
Each of the managers of RALLC shares voting and dispositive power over the 2,470,000 Shares held by RALLC. Each of the directors
of Holdings shares voting and dispositive power over the 1,459,828 Shares held by Holdings. Each of the directors of TCI shares
voting and dispositive power over the 140,000 Shares held by TCI. The Trustee of the GEP Trust has complete voting and dispositive
power over the 27,602 Shares held by the GEP Trust. Each of the directors of RAI share voting and dispositive power over the 10,043,501
Shares held by RAI. Each of the directors of AEI shares voting and dispositive power over the 556,495 Shares held by AEI.
(c)
During the 60 calendar days ended June 15, 2020, the Reporting Persons and their respective executive officers and directors
or managers did not engage in any transaction involving the Shares or any other equity interest derivative thereof. During June
2020, a complete review was made of all brokerage accounts held by the Reporting Persons to reconcile all Shares held. Also, the
original Arcadian Energy, Inc. merged with and into RAI Acquisitions, Inc., a wholly owned subsidiary of RAI, on December 21, 2017,
which then changed its name to Arcadian Energy, Inc. The original Arcadian Energy, Inc. held 542,303 (3.30%) Shares for more than
two years and 14,188 (0.09%) Shares since April 1, 2020.
(d)
No person other than the Reporting Persons or their respective Board of Directors, Managers or Trustees is known to have
the right to receive or the power to direct receipt of dividends from, or proceeds of sale of, the Shares of ARL Common Stock held
by AEI, RAI, RALLC, Holdings, TCI and/or the GEP Trust.
Item 6. Contracts, Arrangements, Understandings
or Relationships with Respect to Securities of the Issuer
Item 6 of the Amended Statement is hereby further amended
to read as follows:
Of the
Shares owned directly by Arcadian, 104,015 Shares are subject to an accommodation pledge for an obligation of another entity in
connection with a loan from ABC Land & Development, Inc. (“ABCLD”), and 48,600 Shares are subject to an
accommodation pledge for a loan to another entity from Shillington.
Of the
Shares owned directly by RAI, 1,142,109 Shares are subject to a pledge for a loan to RAI from ABCLD, and 405,900 Shares are subject
to a pledge for a loan from Shillington to RAI.
Of the
Shares owned directly by RAI, 5,589,168 Shares and the 1,459,828 Shares owned by Holdings, all are held
in bank and brokerage accounts along with other securities owned by each entity,
and, as such, those Shares may be deemed to be “collateral” for any borrowings made from time to time pursuant to customary
margin or other account arrangements with such banks and/or brokers. Such arrangements are standard involving margin securities
of up to a specified percentage of market value of the Shares, as well as other securities in such accounts, bear interest at varying
rates and contain only standard default and similar provisions, the operation of which should not give any other person immediate
voting power or investment power over such Shares.
Except
as set forth in the preceding paragraphs, the Reporting Persons do not have any contracts, arrangements, understandings or relationships
(legal or otherwise) with any person with respect to any securities or the Issuer including, but not limited to, transfer of voting
of any of the
securities, finders’ fees, joint ventures,
loan or option arrangements, puts or calls, guaranties
of profits, divisions of profits, divisions of profits or loss, or the giving or withholding of proxies.
SIGNATURES
After
reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this
Amendment No. 18 to Statement on Schedule 13D is true, complete, and correct.
|
Dated: June 18, 2020
|
|
|
|
|
|
|
|
REALTY ADVISORS, INC.
|
|
REALTY ADVISORS, INC.
|
|
|
|
|
|
By:
|
/s/ Daniel J. Moos
|
|
By:
|
/s/ Daniel J. Moos
|
|
Daniel J. Moos, President
|
|
Daniel J. Moos, President
|
|
|
|
|
|
GENE E. PHILLIPS CHILDREN’S TRUST
|
|
TRANSCONTINENTAL REALTY INVESTORS, INC.
|
|
|
|
|
|
By:
|
/s/ Donald W. Phillips
|
|
By:
|
/s/ Daniel J. Moos
|
|
Donald W. Phillips, Trustee
|
|
Daniel J. Moos, President
|
|
|
|
|
|
RA STOCK HOLDINGS, INC.
|
|
MAY REALTY HOLDINGS, INC.
|
|
|
|
|
|
By:
|
/s/ Daniel J. Moos
|
|
By:
|
/s/ Daniel J. Moos
|
|
Daniel J. Moos, President
|
|
Daniel J. Moos, President
|
|
|
|
|
|
ARCADIAN ENERGY, INC.
|
|
|
|
|
|
|
|
By:
|
/s/ Robert C. Murray
|
|
|
|
Robert C. Murray, Sr., President
|
|
|
|
|
|
|
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