<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-C
Report by Issuer of Securities Quoted on NASDAQ
Interdealer Quotation System
Filed pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 and Rule 13a-17
or 15d-17 thereunder
American Realty Trust, Inc.
10670 N. Central Expressway
Suite 300
Dallas, Texas 75231
(214) 692-4700
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the number
of shares outstanding:
1. Title of Security: Common Stock
2. Number of shares outstanding before the change: 2,929,164
3. Number of shares outstanding after the change: 5,858,328
4. Effective date of change: January 2, 1996
5. Method of change: This is a forward split on a 2 for 1 basis of the
shares of Common Stock, $0.01 par value per share, without any adjustment to
par value, in the form of a 100% distribution for each share of Common Stock
held, with the intention that each stockholder retain his shares presently held
and receive an additional share of Common Stock for each share of Common Stock.
II. CHANGE IN NAME OF ISSUER
1. Name prior to change: n/a
2. Name after change: n/a
3. Effective date of charter amendment changing name: n/a
4. Date of shareholder approval of change if required: n/a
Date 1/2/96 American Realty Trust, Inc.
--------------------
By: /s/ BRUCE A. ENDENDYK
-----------------------------
Bruce A. Endendyk,
Executive Vice President
