Transcontinental Realty Q3 net income falls to $4.5M from $378.4M YoY; EPS $0.52 vs $43.79

TRANSCONTINENTAL REALTY INVESTORS INC

2023-Q3 EPS reported $0.98 revenue$36,452,000

Net income attributable to common shares $4.5M ($0.52 diluted EPS) vs $378.4M ($43.79) in Q3 2022; prior year included gain on sale of VAA portfolio.
Rental revenues rose to $11.8M from $7.6M due to multifamily acquisitions, partially offset by commercial decline.
Total occupancy 79% (multifamily 96%, commercial 49%) at September 30, 2023.
Obtained $25.4M construction loan for 216-unit multifamily property in McKinney, TX on Nov 6, 2023.
Paid off $1.2M loan on Athens property on Aug 28, 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRANSCONTINENTAL REALTY INVESTORS INC reported three months ended September 30, 2023 results: revenue $11.8 million, net income $4.5 million, EPS $0.52 per diluted share.

Period: three months ended September 30, 2023
Revenue: $11.8 million
Net income: $4.5 million
EPS: $0.52 per diluted share
Result: reported results

Exact text from the filing

a 216 unit multifamily property in McKinney, Texas. Financial Results Rental revenues increased $4.3 million from $7.6 million for the three months ended September 30, 2022 to $11.8 million for the three months ended September 30, 2023. The increase in rental revenue is primarily due to $5.0 million increase at our multifamily properties offset in part by a decrease

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Source: SEC EDGAR

accession 0000733590-23-000022

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