Transcontinental Realty Investors, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 04:17 pm
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Transcontinental Realty Investors, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 7.57 million compared to USD 9.63 million a year ago. Revenue was USD 8.32 million compared to USD 10.03 million a year ago. Net income was USD 378.35 million compared to USD 26.25 million a year ago. Basic earnings per share from continuing operations was USD 43.79 compared to USD 3.04 a year ago.
For the nine months, sales was USD 22.31 million compared to USD 30.18 million a year ago. Revenue was USD 23.88 million compared to USD 32.66 million a year ago. Net income was USD 409.31 million compared to USD 18.15 million a year ago. Basic earnings per share from continuing operations was USD 47.38 compared to USD 2.1 a year ago.
Transcontinental Realty Investors, Inc. is a fully integrated, externally managed real estate company. The Company operates through two segments: the acquisition, development, ownership and management of multifamily properties, and the acquisition, development, ownership and management of commercial properties, which are primarily office properties. The services for its commercial segment include primarily rental of office space and other tenant services, including parking and storage space rental. The services for its multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. It holds a diverse portfolio of equity real estate located across the United States, including office buildings, apartments, shopping centers, and developed and undeveloped land. It invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate. It also holds mortgage receivables.