American Realty 4Q Profit Doubles

American Realty Investors Inc., a Dallas real estate investment trust, said late Monday fourth-quarter earnings more than doubled as the company increased its rental portfolio and sold land.

Net income rose to $60.6 million, or $4.49 per share, from $28.8 million, or $2.20 per share, a year ago.

Rents and property revenue climbed to $46.1 million from $39.4 million in the 2006 period. The gain came from the acquisition of two properties in January 2007. The company also posted a $8.8 million gain on land sales.

For the year, net income rose to $24.1 million, or $2.35 per share, from $10.6 million, or $1.04 per share, in 2006. Revenue climbed to $176.9 million from $147.6 million last year.