Transcontinental Stock Price, News & Analysis

American Realty Investors (NYSE:ARL) reported a net income of $16.3 million or $1.01 per diluted share for Q2 2022, a significant recovery from a net loss of $27.3 million in Q2 2021. The company collected approximately 97% of rents, with 93% occupancy in multifamily properties. However, rental revenues dropped $2.9 million due to property sales. The net operating loss decreased to $3.0 million, mainly due to reduced legal costs, while net income benefitted from a $29.6 million arbitration settlement and currency gains.

Transcontinental Realty Investors, Inc. (NYSE:TCI) reported a net income of $16.5 million or $1.91 per diluted share for the quarter ending June 30, 2022, a significant turnaround from a net loss of $30.7 million in 2021. The company achieved a 97% rent collection rate, with multifamily tenants at 98% and office tenants at 96%. However, rental revenues fell by $2.9 million from $10.2 million in the previous year, largely due to property sales. Legal costs related to prior arbitration have decreased, contributing to a $2.4 million decline in net operating loss.

Income Opportunity Realty Investors, Inc. (IOR) reported Q1 2022 net income of $0.6 million or $0.15 per diluted share, declining from $1.4 million or $0.32 per diluted share in Q1 2021. This decrease of $0.7 million was primarily due to an absence of a tax credit that benefited the previous year's results.

American Realty Investors, Inc. (NYSE: ARL) published its Q1 2022 financial results, reporting a net income of $11.3 million ($0.70 per diluted share), down from $18.1 million ($1.12 per diluted share) in Q1 2021. Rental revenues fell by $2.9 million to $7.5 million, primarily due to the sale of Las Colinas. The company achieved a rent collection rate of about 98%, with total occupancy at 90%. A significant milestone included the sale of a multifamily property for $26.8 million.

Transcontinental Realty Investors (NYSE: TCI) reported a net income of $14.5 million or $1.68 per diluted share for the quarter ended March 31, 2022, down from $22.6 million or $2.62 per diluted share year-over-year. Total revenue fell $4 million to $7.8 million, primarily due to a decrease in rental revenues stemming from the 2021 sale of 600 Las Colinas. Net operating loss increased to $4.1 million. Occupancy rates stood at 90%, with 98% rent collection.

Transcontinental Realty Investors (NYSE:TCI) reported a net loss of $8.7 million ($1.01 per diluted share) for Q4 2021, a significant increase from a net loss of $1.5 million ($0.17 per diluted share) in Q4 2020. Rental revenues dropped by $9.8 million to $7.6 million, primarily due to a prior lease termination payment and declining commercial occupancy rates. Net operating loss also increased to $4.2 million from a net operating income of $4.0 million in the previous year. As of December 31, 2021, total occupancy was reported at 91%, with 95% at multifamily properties and 70% at commercial properties.

American Realty Investors, Inc. (NYSE: ARL) reported a net loss of $6.8 million, or $0.42 per diluted share, for the quarter ended December 31, 2021, a notable decline from a net income of $0.4 million in the same quarter of 2020. Rental revenues fell sharply by $9.8 million to $7.6 million, largely due to a prior lease termination payment and decreased occupancy in commercial properties. The total occupancy rate was 91%, with multifamily occupancy at 95% and commercial at 70%. Notably, the company executed a Major Decision for property sales and sold a multifamily property for $26.8 million.

Income Opportunity Realty Investors, Inc. (NYSE American: IOR) reported its Q4 2021 results, showing a net income of $0.7 million or $0.17 per diluted share, down from $1.3 million or $0.32 per share in Q4 2020. This decrease of $0.6 million was primarily due to a prior year's tax credit. The company is based in Dallas and primarily invests in real estate through direct ownership and partnerships.

Pillar Income Asset Management has appointed Bradley J. Muth as President & CEO, who also leads American Realty Investors, Inc. (NYSE: ARL), Transcontinental Realty Investors, Inc. (NYSE: TCI), and Income Opportunity Realty Investors, Inc. (AMEX: IOR). Muth aims to expand the Companies' multi-family apartment portfolio in the Sunbelt markets, targeting over 15,000 new units. The strategy includes selective divestiture of non-core assets. Muth brings over 30 years of real estate experience and previously managed over $8 billion in real estate investments.