Transcontinental Realty Investors, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 12:29 pm EDT
Share
Transcontinental Realty Investors, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 11.39 million compared to USD 7.26 million a year ago. Revenue was USD 12.24 million compared to USD 7.77 million a year ago. Net income was USD 0.53 million compared to USD 16.46 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to USD 1.91 a year ago.
For the six months, sales was USD 22.4 million compared to USD 14.74 million a year ago. Revenue was USD 23.93 million compared to USD 15.56 million a year ago. Net income was USD 4.05 million compared to USD 30.96 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 3.58 a year ago.
Transcontinental Realty Investors, Inc. is a fully integrated, externally managed real estate company. The Company operates through two segments: the acquisition, development, ownership and management of multifamily properties, and the acquisition, development, ownership and management of commercial properties, which are primarily office properties. The services for its commercial segment include primarily rental of office space and other tenant services, including parking and storage space rental. The services for its multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. It holds a diverse portfolio of equity real estate located across the United States, including office buildings, apartments, shopping centers, and developed and undeveloped land. It invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate. It also holds mortgage receivables.