I don't see how this REIT can continue to meet minimum listing requirements on the NYSE with such a low volume of shares being traded.
As I predicted years ago...the "We're sorry, it just didn't work out..." letters with an offer to buy us out (at what they will admit in the fine print is far less than what the equity is truly worth) ought to be in the mail soon.
Owning shares in this has been a real education...about Markets...Exchanges...and People (I'm being generous).
This is just my suspicion...I don't know anything for a fact. Well, other than that this REIT has been run so as NOT to benefit the "Average Joe" common shareholders.
I stand corrected, and it is an important difference.
If it were a REIT (and it were profitable), then they would have to pay us dividends. But they are not, and they don't.
I went out to their linked website and was bemused to find the following at the very top of their site:
"American Realty Investors, a New York Stock Exchange Company (NYSE: ARL), maintains a 38-year commitment to greater shareholder value through the acquisition, financing, operation and sale of real estate and real estate assets."
I wonder which shareholder they are talking about (other than Gene Phillip's and his family), because it sure isn't any of us!
Sounds like false advertising to me.
Also, under FAQ's, the very first one deals with obtaining a duplicate copy of the 1099DIV!!!
What a joke! They haven't paid a dividend to the common shareholders since 1999 (according to Yahoo Finance key statistics)!!!!
I'll bet a more frequently asked question is, "Will we EVER see a dividend from ARL???!!!".
Somehow, I don't think that question will make the list.