Transcontinental Realty reports Q4 net loss of $2.6M vs net income of $58.9M in Q4 2022

TRANSCONTINENTAL REALTY INVESTORS INC

Net loss of $2.6M ($0.30/diluted share) vs net income of $58.9M ($6.82/share) in Q4 2022.
Rental revenue rose $1.0M to $12.8M; net operating income swung to a loss of $2.1M from +$0.5M.
Total occupancy 77%; multifamily 92%, commercial 49% as of Dec 31, 2023.
Entered two construction loans totaling $48.9M for 216-unit multifamily projects in McKinney and Temple, TX.
Extended Windmill Farms loan to Feb 2026 at 7.50% interest.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRANSCONTINENTAL REALTY INVESTORS INC reported the quarter ended December 31, 2023 results: revenue $12.8 million, net income net loss of $2.6 million, EPS $0.30 per diluted share.

Period: the quarter ended December 31, 2023
Revenue: $12.8 million
Net income: net loss of $2.6 million
EPS: $0.30 per diluted share
Result: reported results

Exact text from the filing

to February 28, 2026 at an interest rate of 7.50%. Financial Results Rental revenues increased $1.0 million from $11.8 million for the three months ended December 31, 2022 to $12.8 million for the three months ended December 31, 2023. The increase in rental revenue is primarily due to $0.9 million increase at our multifamily properties and $0.1 million at the

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Source: SEC EDGAR

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