Transcontinental Realty Q2 2024 net income triples to $1.5M ($0.17/sh)

TRANSCONTINENTAL REALTY INVESTORS INC

2024-Q2 EPS reported $0.47 revenue$23,672,000

Net income attributable to common shares $1.5M ($0.17 diluted EPS) vs $0.5M ($0.06) in Q2 2023.
Rental revenues $11.2M, down $0.2M YoY; net operating loss narrowed to $1.1M from $3.5M.
Total occupancy 78% at Q2 end (93% multifamily, 48% commercial).
On July 10, 2024, replaced Forest Grove loan with $6.6M loan at SOFR+1.85%, maturing 2031.

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