Transcontinental Realty Investors, Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2020
March 26, 2021 at 11:43 am EDT
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Transcontinental Realty Investors, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2020. For the quarter, the company reported total revenue was $18,676,000 against $12,402,000 a year ago. Net operating income was $4,017,000 against net operating loss of $1,954,000 a year ago. Net loss was $1,084,000 against $6,979,000 a year ago. Basic and diluted loss per share was $0.17 against $0.82 a year ago.
For the year, the company reported total revenue was $57,022,000 against $48,054,000 a year ago. Net operating loss was $28,000 against $7,652,000 a year ago. Net income was $7,464,000 against net loss of $26,137,000 a year ago. Basic and diluted earnings per share was $0.77 against loss per share of $3.09 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.