Overview
American Realty Q2 net income rises to $2.8 mln from $1.2 mln yr ago
Rental revenues increased to $11.5 mln
Co paid off $10.8 mln loan on 770 South Post Oak with cash on hand
The Company’s primary asset and source of its operating results is its investment in Transcontinental Realty Investors, Inc.
Result Drivers
OCCUPANCY INCREASE - Rental revenue growth driven by higher occupancy at Stanford Center
REAL ESTATE GAINS - Gain on sale of single-family lots contributed to net income increase
EXPENSE REDUCTION - Decrease in insurance and property tax costs helped reduce operating loss
Key Details
Press Release: ID:nBwbSWz28a
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)