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Transcontinental Realty Investors Inc

Transcontinental Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2025

DALLAS--(BUSINESS WIRE)--Aug. 7, 2025-- Transcontinental Realty Investors, Inc. (NYSE:TCI) is reporting its results of operations for the three months ended June 30, 2025. For the three months ended June 30, 2025, we reported net income attributable to common shares of $0.2 million or $0.02 per diluted share, compared to $1.5 million or $0.17 per diluted share for the same period in 2024.

Financial Highlights

  • Total occupancy was 82% at June 30, 2025, which includes 94% at our multifamily properties and 57% at our commercial properties.
  • During the three months ended June 30, 2025, we sold 30 single family lots from our holdings in Windmill Farms for $1.4 million, resulting in a gain on sale of $1.1 million.
  • On May 30, 2025, we paid off the $10.8 million loan on 770 South Post Oak with cash on hand.

Financial Results

Rental revenues increased $0.3 million from $11.2 million for the three months ended June 30, 2024 to $11.5 million for the three months ended June 30, 2025. The increase in rental revenue is primarily due to an increase in occupancy at Stanford Center.

Net operating loss decreased $0.3 million from $1.1 million for the three months ended June 30, 2024 to $0.8 million for the three months ended June 30, 2025. Our decrease in net operating loss was due to a $0.1 million decrease in operating expenses. The decrease in operating expenses is primarily due to a decrease in the cost of insurance and property taxes for the three months ended June 30, 2025.

Net income attributable to the Company decreased $1.3 million from $1.5 million for the three months ended June 30, 2024 to $0.2 million for the three months ended June 30, 2025. The decrease in net income is primarily attributed to a decrease in interest income and an increase in tax provision for the three months ended June 30, 2025 offset in part by an increase in gain on real estate transactions.

About Transcontinental Realty Investors, Inc.

Transcontinental Realty Investors, Inc., a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, shopping centers, and developed and undeveloped land. The Company invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate. The Company also holds mortgage receivables.

 
TRANSCONTINENTAL REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
 
 

Three Months Ended
June 30,

Six Months Ended
June 30,

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 
Revenues:
Rental revenues

$

11,510

 

$

11,188

 

$

22,937

 

$

22,467

 

Other income

 

650

 

 

585

 

 

1,231

 

 

1,205

 

Total revenue

 

12,160

 

 

11,773

 

 

24,168

 

 

23,672

 

Expenses:
Property operating expenses

 

6,535

 

 

6,624

 

 

12,512

 

 

13,258

 

Depreciation and amortization

 

3,062

 

 

3,137

 

 

5,945

 

 

6,309

 

General and administrative

 

1,383

 

 

1,414

 

 

2,735

 

 

2,675

 

Advisory fee to related party

 

2,005

 

 

1,680

 

 

4,436

 

 

3,845

 

Total operating expenses

 

12,985

 

 

12,855

 

 

25,628

 

 

26,087

 

Net operating loss

 

(825

)

 

(1,082

)

 

(1,460

)

 

(2,415

)

Interest income

 

3,982

 

 

5,200

 

 

8,610

 

 

11,327

 

Interest expense

 

(1,738

)

 

(1,862

)

 

(3,519

)

 

(3,731

)

Equity in income from unconsolidated joint venture

 

-

 

 

109

 

 

-

 

 

544

 

Gain on sale or write-down of assets, net

 

947

 

 

-

 

 

4,838

 

 

-

 

Income tax provision

 

(2,042

)

 

(669

)

 

(3,364

)

 

(1,272

)

Net income

 

324

 

 

1,696

 

 

5,105

 

 

4,453

 

Net income attributable to noncontrolling interest

 

(155

)

 

(198

)

 

(318

)

 

(406

)

Net income attributable to the Company

$

169

 

$

1,498

 

$

4,787

 

$

4,047

 

Earnings per share
Basic and diluted

$

0.02

 

$

0.17

 

$

0.55

 

$

0.47

 

Weighted average common shares used in computing earnings per share
Basic and diluted

 

8,639,316

 

 

8,639,316

 

 

8,639,316

 

 

8,639,316

 

 

 

Transcontinental Realty Investors, Inc.
Investor Relations
Erik Johnson (469) 522-4200
investor.relations@transconrealty-invest.com

Source: Transcontinental Realty Investors, Inc.