Dallas, Texas 11/08/2013 (Financialstrend) – American Realty Investors, Inc. (NYSE:ARL) lost steady ground on Nov 7, closing the day at $5.15.
The Dallas based ARL, is known for its steady performance for the past quarter. ARL has established an excellent portfolio in its apartment segment and has taken complete advantage of the recent upward trend in this segment.
Quarter two for the company has been buoyant largely due to the intense developments in the economic divisions, averaging nearly 95% of the segment. The company also announced that there was great positive movement in its commercial market segments as well. Considering the fact that new lease was now available across several properties.
ARL was also very happy to announce that a major portion of its income came from its rental properties as well.
Prudently, ARL also realigned some of its operations to meet market expectations and arrive at more cost-effective solutions.
ARL executives commented that, while the costs of operating properties was $12.5 million for 3 months, there was a decrease to $0.8million on the expenses front as well, comparatively.
Considering the fact, there was increase in the costs of operations on commercial properties which also saw a drop to $1.2 million following tax refunds, as a result of several litigations on some of its properties.
The company also registered overall administrative as well as general expenses to the tune of $2.0 million in the initial 3 months. This related to $1.1 million, over a period of $0.9 million. The increase in professional services, total cost returns were also noted.
The most important part of the income was from the sale of land, it held. The company also successfully realigned operations, selling non-performing assets and reclassifying many to yield better results. During 2012, ARL sold properties – two apartments, one hotels s well as three commercial complexes to post tidy profits.