earnings
confidence high
sentiment negative
materiality 0.80
Transcontinental Realty Q2 net loss widens to $30.7M on $29.6M earn-out charge
TRANSCONTINENTAL REALTY INVESTORS INC
2021-Q2 EPS reported
-$0.94
revenue$22,623,000
- Net loss of $30.7M ($3.56 per diluted share) compared to $4.2M ($0.48 per share) in Q2 2020.
- Arbitration verdict on VAA joint venture earn-out requires $39.6M payment to Macquarie, a $29.6M increase.
- Rental revenues fell 12% to $10.2M; net operating loss of $5.2M vs income of $0.6M in Q2 2020.
- Rent collection 96% (96% multifamily, 97% office); total occupancy 91% (95% multifamily, 73% commercial).