American Realty Investors’ Q2 2026 revenue rose 5.8% to $12.9 million, but diluted EPS fell to a $0.06 loss from $0.18 profit a year earlier. Net loss attributable to common shares was $1.0 million as property operating expenses increased 25.1%, largely reflecting costs at lease-up properties. Multifamily and commercial revenue added $0.5 million and $0.2 million, respectively, while the net interest contribution fell by about $1.6 million. Investors now need to track development-property occupancy, commercial occupancy of 58%, and whether rental growth can outpace lease-up and financing costs.