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Transcontinental Realty Investors, Inc. reported a Q2 2026 net loss attributable to common shares of $1.1 million, or $(0.13) per share, compared with net income of $0.2 million, or $0.02 per share, for the same 2025 period. Total revenue for the quarter increased to $12.9 million from $12.2 million, driven by a $0.5 million increase from multifamily properties and a $0.2 million increase from commercial properties as development assets continued to lease up.
Net operating loss widened to approximately $2.3 million from $0.8 million, primarily due to a $1.6 million increase in operating expenses from lease-up properties. Net income also reflected a $1.9 million decrease in interest income, net, partially offset by a $2.2 million decrease in income tax provision. The company sold 21 lots at Windmill Farms for $1.0 million, realizing a $0.8 million gain. At June 30, 2026, occupancy for stabilized properties was 81%, including 93% at multifamily and 58% at commercial properties, while development properties Alera, Bandera Ridge and Merano reported occupancy of 86%, 85% and 77%, respectively.
Transcontinental Realty Investors, Inc. generated Q2 2026 revenue of 12,866 and first‑half revenue of 25,207, slightly above 2025, but reported net loss attributable to the company of 1,127 for the quarter and 959 year‑to‑date, compared with income of 169 and 4,787 a year earlier.
Total NOI from the multifamily and commercial segments declined to 4,690 in Q2 and 9,698 for the first half, primarily from weaker multifamily NOI during lease‑up of Alera, Bandera Ridge and Merano and softer occupancy at Same Properties; FFO decreased to 2,570 for Q2 and 6,581 year‑to‑date.
At June 30, 2026, assets were 1,130,394 with real estate of 603,217 and mortgages and other notes payable of 214,486; cash, cash equivalents and restricted cash were 21,940, alongside 73,438 of short‑term investments and 120,879 of notes receivable. The portfolio included thirteen operating multifamily properties with 2,128 units, three lease‑up multifamily properties with 672 units, one 234‑unit development, four office buildings and 1,786 acres of land. Management expects existing liquidity, asset sales, refinancings and new borrowings to meet cash requirements, and notes ongoing related‑party advisory and financing arrangements. After quarter‑end, 134,649 new common shares were issued in exchange for 269,299 IOR shares, increasing outstanding shares to 8,773,965.
Transcontinental Realty Investors, Inc. reported Q1 2026 net income attributable to common shares of $0.2 million, or $0.02 per share, down from $4.6 million, or $0.53 per share, a year earlier.
Total revenue in the quarter edged up to $12.3 million from $12.0 million, mainly from higher commercial property revenue tied to improved occupancy at Stanford Center. However, total operating expenses rose to $14.3 million from $12.6 million, driving a larger net operating loss of $2.0 million versus $0.6 million.
Stabilized properties were 81% occupied at March 31, 2026, including 93% occupancy in multifamily and 58% in commercial assets. Development properties Alera, Bandera Ridge and Merano had occupancies of 47%, 44% and 42%, respectively. The company also sold 21 lots at Windmill Farms for $1.0 million, generating a $0.8 million gain.
Transcontinental Realty Investors, Inc. reported Q1 2026 net income of $0.3 million, down from $4.8 million a year earlier, as prior-year gains on property sales did not repeat. Total revenue was $12.3 million, slightly above $12.0 million in Q1 2025.
Multifamily net operating income fell to $3.0 million from $4.7 million, mainly from lease-up properties and a sold asset, while commercial NOI rose to $2.0 million from $1.3 million on higher occupancy. Interest income, net declined and depreciation increased as new developments entered service.
Funds From Operations were $4.0 million, compared with $6.8 million in the prior-year quarter. The company ended March 31, 2026 with $1.13 billion in total assets, $211.9 million of mortgages and other notes payable, and $22.9 million of cash, cash equivalents and restricted cash.
Transcontinental Realty Investors, Inc. reported sharply higher earnings for the quarter ended December 31, 2025. Net income attributable to common shares was $8.3 million, or $0.97 per diluted share, compared with $0.1 million, or $0.01 per diluted share, a year earlier.
Total revenue for the quarter rose modestly to $12.1 million from $11.8 million, as stronger commercial property performance offset lower multifamily revenue following a property sale. Overall net operating loss widened to $3.5 million due to higher operating expenses, mainly from lease-up properties.
Quarterly profit was driven largely by real estate gains. The company sold Villas at Bon Secour, a 200‑unit multifamily property in Alabama, for $28.0 million, generating a gain on sale of $12.2 million. For the full year 2025, net income attributable to the company increased to $13.8 million, or $1.60 per share, compared with $5.9 million, or $0.68 per share, in 2024.
Transcontinental Realty Investors, Inc. is an externally managed real estate company focused on multifamily and office properties in the Southern United States. At December 31, 2025, its portfolio included 13 operating multifamily properties with 2,128 units, three lease-up multifamily projects with 672 units, one 234-unit project under construction, four office buildings totaling about 1.0 million rentable square feet, and roughly 1,792 acres of land.
For 2025, revenue was $49.1 million and segment NOI was $21.2 million. Net income rose to $14.4 million from $6.7 million in 2024, driven largely by a $12.2 million gain on the sale of Villas at Bon Secour and higher gains on land sales at Windmill Farms, partially offset by lower interest income and higher advisory and related-party expense. Real estate assets reached $602.4 million, mortgages and other notes payable were $210.8 million, and notes receivable were $123.7 million. Equity totaled $866.2 million, including $584.6 million of retained earnings. The company paid no common dividends for 2023–2025 and remains highly related-party oriented through ARL, Pillar and UHF relationships.
American Realty Investors, Inc., a director and more than 10% owner of Transcontinental Realty Investors, Inc. (TCI), reported buying 70,023 shares of TCI common stock on 01/12/2026. The shares were acquired in a privately negotiated deal at a price of $55.50 per share, based on the simple average of TCI’s NYSE closing prices over the 10 trading days before the transaction date.
Following this purchase, American Realty Investors, Inc. beneficially owns 5,458,515 TCI shares directly and 1,383,226 TCI shares indirectly through its wholly owned subsidiary, Transcontinental Realty Acquisition Corporation.
Transcontinental Realty Investors’ controlling stockholder group filed a corrective Schedule 13D amendment to update its ownership and recent transactions in the company’s common stock. The filing shows that American Realty Investors, Inc. now directly owns 5,458,515 shares, or about 63.18% of the 8,639,316 shares believed to be outstanding, while its subsidiary Transcontinental Realty Acquisition Corp. holds 1,383,226 shares (16.01%) and Realty Advisors, Inc. owns 695,996 shares (8.06%). May Realty Holdings, Inc., which indirectly controls these entities, is deemed to beneficially own 7,537,737 shares, or roughly 87.2% of the company.
The amendment records that on 01/12/2026 American Realty Investors bought 70,023 shares (0.81%) from ABC Land & Development, Inc. in a privately negotiated deal at $55.50 per share, and that Realty Advisors previously acquired 75,068 shares (0.89694%) between October 2023 and April 2025 at an average price of $31.99. The reporting group states it has no present plans for major corporate actions, though it may buy or sell additional shares if attractive opportunities arise.
Transcontinental Realty Investors, Inc. (TCI) remains tightly controlled by entities affiliated with American Realty Investors, Inc. (ARL). May Realty Holdings, Inc. reports beneficial ownership of 7,487,737 TCI common shares, representing 86.7% of the outstanding 8,639,316 shares. Within this group, ARL holds 5,408,515 shares (62.6%), Transcontinental Realty Acquisition Corporation (TRAC) holds 1,383,226 shares (16.0%), and Realty Advisors, Inc. (RAI) holds 695,996 shares (8.1%).
This amendment reflects ARL’s acquisition on 01/12/2026 of 70,023 TCI shares (0.81%) from ABC Land & Development, Inc. in a privately negotiated transaction at $55.50 per share, based on the 10-day average closing price. Over the two years prior to April 29, 2025, ARL had also purchased 75,068 shares at an average price of $31.99 per share. Some of the group’s shares are pledged as collateral for loans and margin arrangements, but the reporting persons state they currently have no specific plans for corporate actions involving TCI.
American Realty Investors, Inc., a 10% owner of Transcontinental Realty Investors, Inc. (TCI), reported purchasing 70,023 shares of TCI common stock on 01/12/2026 at $55.5 per share in an open-market transaction. This increased its directly held position to 5,408,515 TCI shares. The filing notes that these 70,023 shares were bought from ABC Land & Development, Inc. in a privately negotiated deal, with the price based on the simple average of TCI’s NYSE closing prices over the 10 trading days before the transaction date.
The filing also discloses 1,383,226 additional TCI shares held indirectly through Transcontinental Realty Acquisition Corporation, a Nevada corporation that is a wholly owned subsidiary of American Realty Investors and has owned these shares for several years.