American Realty Investors swings to Q2 loss on higher operating expenses - ARL News | RalliesAmerican Realty Investors swings to Q2 loss on higher operating expenses
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ARL• Outlook
- Company did not provide specific guidance or outlook for future periods
Overview
- U.S. real estate investor's Q2 revenue rose yr/yr, but company posted net loss
- Revenue growth driven by higher occupancy at multifamily and commercial properties
- Net loss reflects higher operating expenses and lower interest income
Key Details
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| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Rental Revenues | | $12.24 mln | |
| Q2 Net Loss | | $1 mln | |
| Q2 Net Operating Loss | | $2.55 mln | |
Result Drivers
- Multifamily occupancy - Co said revenue growth was mainly due to higher occupancy at multifamily properties from lease-up of development properties
- Commercial occupancy - Co said revenue growth was also supported by increased occupancy at Stanford Center
- Operating expenses - Co attributed higher net operating loss to increased operating expenses from lease-up properties
