Transcontinental Stock Price, News & Analysis

Transcontinental Realty Investors (NYSE: TCI) has announced an extension of its tender offer for Income Opportunity Realty Investors (NYSE American: IOR) shares. The offer deadline has been extended from January 15, 2025, to 5:00 PM New York City time on January 29, 2025.

The tender offer remains at $18 per share, net to the seller in cash without interest and less required withholding taxes. As of January 13, 2025, two IOR stockholders of record had tendered shares, with additional shares validly tendered through CEDE. Shareholders can withdraw their tendered shares before the expiration time following the Withdrawal Rights outlined in the Offer to Purchase.

For additional information, stockholders can contact D.F. King & Co., Inc., the information agent, at (800) 431-9643 or ior@dfking.com. No dealer manager has been appointed for this tender offer, and no soliciting dealer fees will be paid.

Transcontinental Realty Investors (NYSE:TCI) has announced a cash tender offer to purchase up to 100,000 outstanding shares of Income Opportunity Realty Investors (NYSE American:IOR) at $18.00 per share in cash. The offer aims to increase TCI's current ownership stake, which is already over 80% of IOR common stock.

The tender offer begins December 16, 2024, and expires on January 15, 2025, at 5:00 PM New York time, unless extended. The offer's completion requires a minimum tender of 49,353 shares. IOR's Board of Directors, who are also TCI directors, have made no recommendation to shareholders regarding the tender offer. Following the completion, IOR stock will continue to be listed on NYSE American Exchange with no changes to management or operations.

Income Opportunity Realty Investors (NYSE American:IOR) reported financial results for Q3 2024. The company posted net income of $1.2 million, or $0.29 per diluted share, compared to $1.6 million, or $0.39 per share in Q3 2023. The decline in net income was primarily due to decreased interest income, partially offset by lower advisory fees.

American Realty Investors (NYSE:ARL) reported Q3 2024 results with a net loss of $17.5 million ($1.08 per diluted share), compared to net income of $3.0 million ($0.18 per share) in Q3 2023. Total occupancy was 79%, with 95% in multifamily and 48% in commercial properties. Rental revenues decreased to $11.1 million from $11.8 million year-over-year. The company secured a $6.6 million loan for Forest Grove and a $27.5 million construction loan for a new Dallas multifamily project. A significant $23.4 million settlement payment was made to resolve long-standing Clapper litigation from 1999.

Transcontinental Realty Investors (NYSE:TCI) reported Q3 2024 results with net income of $1.7 million ($0.20 per diluted share), down from $4.5 million ($0.52 per share) in Q3 2023. Total occupancy was 79%, with 95% in multifamily and 48% in commercial properties. Rental revenues decreased to $11.1 million from $11.8 million year-over-year. The company secured a $6.6 million loan for Forest Grove and a $27.5 million construction loan for a new 234-unit multifamily project in Dallas. A significant 45,000 square foot lease was completed at Stanford Center, expected to increase property occupancy by 14%.

Transcontinental Realty Investors (NYSE:TCI) reported its Q2 2024 results, showing a net income of $1.5 million or $0.17 per diluted share, up from $0.5 million or $0.06 per share in Q2 2023. Total occupancy was 78%, with 93% in multifamily and 49% in commercial properties. Rental revenues decreased slightly to $11.2 million from $11.4 million in Q2 2023. The company saw a $2.4 million decrease in net operating loss to $1.1 million, primarily due to reduced general and administrative expenses. TCI also refinanced its Forest Grove property with a $6.6 million loan at SOFR plus 1.85%, maturing in 2031.

Income Opportunity Realty Investors (NYSE American: IOR) has reported its financial results for Q2 2024. The company's net income attributable to common shares decreased to $1.2 million ($0.28 per diluted share), compared to $1.8 million ($0.44 per share) in the same quarter of 2023. This 33.3% decline in net income is primarily due to a decrease in interest income, partially offset by a reduction in advisory fees. The earnings report highlights the challenges faced by IOR in maintaining its profitability levels year-over-year, with a significant drop in earnings per share from $0.44 to $0.28.

American Realty Investors, Inc. (NYSE:ARL) reported its Q2 2024 results, showing a net income of $1.2 million or $0.07 per diluted share, up from $0.1 million or $0.01 per diluted share in Q2 2023. Total occupancy was 78%, with 93% in multifamily and 49% in commercial properties. Rental revenues slightly decreased to $11.2 million from $11.4 million year-over-year. The company's net operating loss improved, decreasing from $3.9 million to $1.3 million. This improvement was primarily due to reduced general and administrative expenses related to repaid bonds. ARL also refinanced its Forest Grove property with a $6.6 million loan at SOFR plus 1.85%, maturing in 2031.

American Realty Investors, Inc. (NYSE: ARL) reported net income attributable to common shares of $1.8 million or $0.11 per diluted share for the three months ended March 31, 2024, compared to $3.0 million or $0.18 per diluted share for the same period in 2023. Rental revenues increased to $11.3 million, with total occupancy at 79% as of March 31, 2024. The company extended the loan maturity on Windmill Farms to 2026 at a 7.50% interest rate.