American Realty Investors, Inc. $(ARL)$ reported its financial results for the quarter ended September 30, 2025. The company recorded net income attributable to common shares of $0.1 million, or $0.01 per diluted share, compared to a net loss of $17.5 million, or $1.08 per diluted share, for the same period in 2024. Revenues increased by $1.2 million year-over-year, from $11.6 million in 2024 to $12.8 million in 2025, primarily due to a $0.3 million increase from multifamily properties and a $1.0 million increase from commercial properties, attributed mainly to higher occupancy at Stanford Center. Total occupancy stood at 82% as of September 30, 2025, with multifamily properties at 94% and commercial properties at 58%. During the quarter, the company began leasing new units at Alera, Bandera Ridge, and Merano. Additionally, on October 10, 2025, American Realty Investors sold the Villas at Bon Secour property for $28,000, using the proceeds to pay off the associated $18,767 loan and for general corporate purposes. Net operating loss decreased from $2.1 million in 2024 to $1.6 million in 2025, reflecting increased revenue partially offset by higher operating expenses.