Transcontinental Realty Investors, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2020
August 14, 2020 at 04:30 pm EDT
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Transcontinental Realty Investors, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2020. For the quarter, the company reported rental and other property revenues were $11,947,000 compared to $11,840,000 a year ago. Net operating loss was $849,000 compared to $3,380,000 a year ago. Net loss was $3,916,000 compared to $5,966,000 a year ago. Basic net loss per share was $0.45 compared to $0.68 a year ago. Basic net income per share applicable to common shares was $0.48 compared to $0.73 a year ago.
For the six months, the company reported rental and other property revenues were $23,865,000 compared to $23,769,000 a year ago. Net operating loss was $4,830,000 compared to $4,633,000 a year ago. Net income was $855,000 compared to net loss of $11,392,000 a year ago. Basic net income per share was $0.10 compared to loss per share of $1.31 a year ago. Basic net income per share applicable to common shares was $0.05 compared to loss per share applicable to common shares of $1.37 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.
TRANSCONTINENTAL REALTY INVESTORS, INC. 
