# American Realty Investors, Inc. (ARL)

> Source: Nexqual · https://nexqual.com/ARL · data as of 2026-10-23 13:46 UTC · cite as "Nexqual, American Realty Investors, Inc. (ARL), nexqual.com/ARL" · informational, not investment advice.

**Price:** USD 16.41 (+0.00% today) · US market open, as of October 23, 2026 at 13:46 UTC; quotes may be delayed. Prev close 16.41 · day 16.41–16.41 · 52w 12.42–24.44 · market cap null · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $51.1M, net income $8.3M (16.4% margin) (SEC filings).
- Analysts: None.
- Total return with dividends: 1Y +9.0% vs S&P 500 +14.5%; 5Y +39.1% vs S&P 500 +77.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $42.0M | $37.5M | $50.5M | $47.3M | $50.0M | $51.1M |
| Operating income | -$20.6M | -$9.3M | -$11.2M | -$6.6M | -$6.4M | -$9.3M |
| Net income | $3.3M | $373M | $4.0M | -$14.7M | $15.7M | $8.3M |
| EPS (diluted) | $0.21 | $23.11 | $0.25 | -$0.91 | $0.97 | — |
| Operating margin | -49.0% | -24.7% | -22.3% | -14.0% | -12.9% | -18.3% |
| Net margin | 8.0% | 994.4% | 7.9% | -31.1% | 31.4% | 16.4% |
| Revenue growth | -28.8% | -10.7% | +34.5% | -6.3% | +5.7% | — |
| Cash + short-term investments | $66.7M | $233M | $127M | $99.7M | $89.1M | — |
| Total debt | $183M | $188M | $183M | $185M | $214M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 16.5x, Dec 2023 70.9x.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +9.0% | +39.1% |
| S&P 500 (SPY) | +14.5% | +77.1% |
| Per year | +9.0% | +6.8% |
| Volatility (annualized) | 62.9% | 53.7% |
| Max drawdown | -38.7% (Jun 2026→Sep 2026) | -63.6% (Mar 2023→Mar 2025) |

## Peers (Real Estate Services)
OPEN (Opendoor Technologies Inc) USD 2.01 -0.50% · CWK (Cushman & Wakefield Ltd.) USD 11.78 -2.69% · IHS (IHS Holding Limited) USD 8.44 -0.12% · NMRK (Newmark Group, Inc.) USD 11.49 -2.83% · CIGI (Colliers International Group In) USD 92.17 -4.45% · FSV (FirstService Corporation) USD 141.63 -3.80%

## More
Full page: https://nexqual.com/ARL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ARL's own 10-K filed 2026-03-12 (https://www.sec.gov/Archives/edgar/data/1102238/000110223826000004/arl-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Victory Abode Apartments | "On March 23, 2023, we received $18.0 million from our joint venture in Victory Abode Apartments, LLC ("VAA"), which represented the remaining distribution of proceeds from the sale of the 45 properties in September 2022 …" |
| Partner | TRANSCONTINENTAL REALTY INVESTORS INC (TCI) | "We are part of a tax sharing and compensating agreement with respect to federal income taxes among ARL, TCI and IOR and their subsidiaries." |
| Related party | Pillar Income Asset Management | "In addition, as described in Part III, Item 13. "Certain Relationships and Related Transactions, and Director Independence", we compete with related parties of Pillar having similar investment objectives related to the a…" |
| Related party | Unified Housing Foundation | "Due to our ongoing relationship and significant investment in the performance of the collateral secured under the notes receivable, we consider UHF to be a related party." |

Other companies that name ARL in their own reports (relationship from ARL's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | INCOME OPPORTUNITY REALTY INVESTORS INC /TX/ (IOR) | 10-K 2026-03-12 | "agreement with respect to federal income taxes among the Company, ARL and TCI." |
| partner | TRANSCONTINENTAL REALTY INVESTORS INC (TCI) | 10-K 2026-03-12 | "We are part of a tax sharing and compensating agreement with respect to federal income taxes among the Company, ARL, and IOR." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Multifamily | $8.9M | 69.6% | +5.4% | $2.8M | 31.7% |
| Commercial | $3.9M | 30.4% | +6.8% | $1.9M | 47.4% |
| Total revenue | $12.9M | 100% | — | $4.7M | 36.5% |