DALLAS (AP) — DALLAS (AP) — American Realty Investors Inc. (ARL) on Thursday reported third-quarter net income of $3 million.

On a per-share basis, the Dallas-based company said it had net income of 18 cents.

The real estate investment company posted revenue of $12.5 million in the period.

ARL shares have declined 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.96, a fall of 32% in the last 12 months.

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