American Realty Investors (ARL)) Q1 2026 earnings summary

Executive summary

• Report covers the quarter ended March 31, 2026, with 16.15 million shares outstanding as of May 7, 2026.

• Primary business is acquisition, development, and ownership of multifamily and commercial properties, with a portfolio including 13 operating multifamily properties, 3 in lease-up, 1 under development, 4 office buildings, and 1,786 acres of land.

• Operations are externally managed by Pillar Income Asset Management; no direct employees.

• Reported net loss attributable to common shares of $0.6 million ($0.03 per share) for Q1 2026, compared to net income of $3.0 million ($0.18 per share) in Q1 2025.

• Revenues increased to $12.3 million from $12.0 million year-over-year, driven by higher commercial property occupancy.

Financial highlights

• Total revenue for Q1 2026 was $12.3 million, up from $12.0 million in Q1 2025.

• Net loss attributable to common shares was $0.6 million, compared to net income of $3.0 million in Q1 2025.

• Earnings per share were $(0.03) versus $0.18 year-over-year.

• Funds From Operations (FFO) was $3.3 million, down from $5.2 million in Q1 2025.

• Cash and cash equivalents at quarter-end were $9.6 million, with total assets of $1.09 billion and total liabilities of $273.6 million.

Outlook and guidance

• Expectation of sufficient liquidity from cash, receivables, and investments to meet requirements; may sell assets or refinance debt as needed.

• Three multifamily properties in lease-up expected to stabilize in 2026; Mountain Creek development to complete in 2027.