CORRECTED-American Realty Investors Q4 revenue rises, net income turns positive
Overview
U.S. real estate investor's Q4 revenue rose yr/yr, driven by higher commercial property income
Net income swung to profit on gain from property sale
Outlook
Company did not provide specific guidance or outlook for future quarters or year
Result Drivers
ASSET SALE - Net income benefited from a $12.2 mln gain on the sale of Villas at Bon Secour multifamily property
COMMERCIAL PROPERTY INCOME - Revenue increased due to higher occupancy at Stanford Center and higher commercial property income
Company press release: ID:nBw88mDvsa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenues |
| $13 mln |
|
Q4 Net Income |
| $9.8 mln |
|
Q4 Operating Income |
| -$3 mln |
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