Debt Management - The company paid off $67.5 million of Series C bonds on January 31, 2023[68]. - The company experienced a loss of $1.7 million on the early extinguishment of debt when paying off Series A and B Bonds[68]. - The company extended the maturity of its loan on Windmill Farms to February 28, 2026, at an interest rate of 7.50%[68]. Construction and Development - A $33.0 million construction loan was secured on March 15, 2023, for the development of a 240-unit multifamily property in Lake Wales, Florida, with a total expected cost of approximately $55.3 million[69]. - The company entered into a $25.4 million construction loan on November 6, 2023, for the development of a 216-unit multifamily property in McKinney, Texas, with a total expected cost of approximately $51.9 million[70]. - A $23.5 million construction loan was secured on December 15, 2023, for the development of a 216-unit multifamily property in Temple, Texas, with a total expected cost of approximately $49.6 million[71]. - The company has agreements to develop 125 acres of land into approximately 470 lots for single-family homes at a total cost of $24.3 million, expected to be completed over a two-year period starting Q3 2024[68]. - As of June 30, 2024, the company incurred $25.1 million in development costs for the Alera project[69]. - The company incurred $11.8 million in development costs for the Merano project as of June 30, 2024[70]. - The company incurred $6.2 million in development costs for the Bandera Ridge project as of June 30, 2024[71]. Financial Performance - Revenue for the multifamily segment increased to $7,927 million in Q2 2024 from $7,658 million in Q2 2023, a variance of $269 million[79]. - Net income for the six months ended June 30, 2024, was $4,453 million, a decrease of $138 million compared to $4,591 million for the same period in 2023[79]. - Interest income decreased by $4.2 million, primarily due to a $6.0 million decrease in interest income offset by a $1.8 million decrease in interest expense[82]. - Net cash provided by operating activities increased to $3,358 million in the six months ended June 30, 2024, compared to a cash outflow of $8,436 million in the same period in 2023, a variance of $11,794 million[85]. - Funds From Operations (FFO) for the six months ended June 30, 2024, was $10,356 million, compared to $10,349 million for the same period in 2023[91]. - The company experienced a $132.9 million decrease in cash used in financing activities, primarily due to the repayment of $131.2 million in bonds in 2023[86]. - Operating expenses for the multifamily segment increased to $4,497 million in Q2 2024 from $4,478 million in Q2 2023, a variance of $19 million[79]. - The commercial segment's revenue decreased to $3,261 million in Q2 2024 from $3,731 million in Q2 2023, a decline of $470 million[79]. - General, administrative, and advisory expenses decreased significantly from $5,521 million in Q2 2023 to $3,094 million in Q2 2024, a reduction of $2,427 million[79]. - Net income attributable to the Company for the six months ended June 30, 2024, was $1.498 billion, compared to $530 million for the same period in 2023, representing a significant increase[91]. - Funds from Operations (FFO) for the six months ended June 30, 2024, was $4.635 billion, up from $3.730 billion in the same period of 2023, indicating a growth of approximately 24.2%[91]. - Depreciation and amortization expenses for the six months ended June 30, 2024, were $3.137 billion, slightly down from $3.200 billion in the prior year[91]. - The Company reported no gain on the sale or write down of assets for the current period, contrasting with a loss of $188 million in the previous year[91]. - FFO-adjusted for the six months ended June 30, 2024, was $4.635 billion, compared to $5.418 billion for the same period in 2023, reflecting a decrease of approximately 14.5%[91]. Risk and Compliance - There were no material changes in risk factors from the previous disclosures in the 2023 10-K report[94]. - The Company has maintained effective disclosure controls and procedures as of the end of the reporting period[93]. - There has been no change in internal control over financial reporting that materially affected the Company during the most recent fiscal quarter[94]. - The Company did not report any legal proceedings during the current reporting period[94]. Advisory Agreements - The advisory agreement with Pillar Income Asset Management, Inc. was amended and restated as of May 7, 2024[96].

Core Insights - AJet has selected TCI, Turksat, and Hughes to provide an integrated In-Flight Connectivity (IFC) solution, enhancing passenger Wi-Fi services across its fleet of over 120 aircraft [1][2][3] Company Partnerships - The partnership between Hughes, TCI, and Turksat aims to deliver fast and reliable connectivity for AJet, showcasing Hughes' commitment to the aviation industry [2] - TCI's advanced aviation engineering and integration capabilities, combined with Turksat's satellite technology, are expected to set a new standard for in-flight connectivity [2] Industry Impact - This collaboration is anticipated to transform the connectivity experience for AJet customers, providing exceptional and reliable service [3] - Hughes has previously been selected by Delta Air Lines to enhance passenger Wi-Fi service on over 400 aircraft, indicating a growing trend in the aviation sector towards improved in-flight connectivity solutions [2]

Financial Performance - Net income attributable to the Company decreased by $1.0 million from $3.5 million in Q1 2023 to $2.5 million in Q1 2024, representing a decline of approximately 28.6%[4] - Total revenue for Q1 2024 was $11.9 million, compared to $11.7 million in Q1 2023, reflecting a growth of approximately 1.8%[7] - Earnings per diluted share decreased from $0.41 in Q1 2023 to $0.30 in Q1 2024, a decline of approximately 26.8%[1] Revenue and Occupancy - Rental revenues increased by $0.3 million from $11.0 million in Q1 2023 to $11.3 million in Q1 2024, an increase of approximately 2.7%[2] - Total occupancy was reported at 79% as of March 31, 2024, with multifamily properties at 94% and commercial properties at 49%[6] Operating Loss and Expenses - Net operating loss decreased by $1.2 million from $2.6 million in Q1 2023 to $1.3 million in Q1 2024, a reduction of approximately 46.2%[3] - General and administrative expenses decreased significantly from $2.9 million in Q1 2023 to $1.3 million in Q1 2024, a reduction of approximately 55.2%[3] Interest and Currency Transactions - Interest income decreased by $2.7 million from $8.8 million in Q1 2023 to $6.1 million in Q1 2024, a decline of approximately 30.6%[7] - The Company reported a gain on foreign currency transactions of $0 in Q1 2024, compared to a gain of $0.971 million in Q1 2023[7] Loan and Financing - The Company extended the maturity of its loan on Windmill Farms to February 28, 2026, at an interest rate of 7.50%[6]

Revenue Performance - Multifamily segment revenue increased to $8.1 million in Q1 2024 from $7.4 million in Q1 2023, a rise of approximately 9.2%[97] - Commercial segment revenue decreased to $3.2 million in Q1 2024 from $3.6 million in Q1 2023, a decline of approximately 11.2%[97] - Net income for Q1 2024 was $2.8 million, down from $3.7 million in Q1 2023, representing a decrease of approximately 25.8%[97] - Net income attributable to the Company for Q1 2024 was $2.549 million, compared to $3.517 million in Q1 2023[108] Development Projects - Development of 125 acres into approximately 470 lots for single-family homes is projected to cost $24.3 million, with completion expected over two years starting Q3 2024[85] - A development agreement for a 240-unit multifamily property in Lake Wales, Florida, is expected to cost approximately $55.3 million, with $18.9 million incurred as of March 31, 2024[86] - A $25.4 million construction loan was secured for the development of a 216-unit multifamily property in McKinney, Texas, expected to be completed in 2025[87] - A $23.5 million construction loan was secured for the development of a 216-unit multifamily property in Temple, Texas, also expected to be completed in 2025[88] Financial Position - Cash and cash equivalents as of March 31, 2024, are expected to be sufficient to meet all cash requirements, with potential selective land sales and refinancing options available[101] - Interest income decreased by $2.7 million, primarily due to changes in interest rates on UHF notes and Pillar Receivable[98] - General, administrative, and advisory expenses decreased by $1.6 million, attributed to reduced legal and auditing costs related to repaid bonds[98] - The company repaid $67.5 million of Series C bonds and $14.0 million of Series A Bonds, resulting in a loss of $1.7 million on early extinguishment of debt[86] Cash Flow Analysis - Net cash provided by operating activities increased to $3.869 million in Q1 2024 from $1.533 million in Q1 2023, a variance of $2.336 million[102] - Net cash provided by investing activities saw a significant increase of $35.786 million, primarily due to a $51.1 million increase in net redemption of short-term investments[103] - Cash used in financing activities decreased by $87.671 million, mainly due to an $88.3 million repayment of bonds in 2023[103] Funds From Operations (FFO) - Funds From Operations (FFO) for Q1 2024 was $5.721 million, down from $6.619 million in Q1 2023[108] - FFO-adjusted for Q1 2024 was $5.721 million, compared to $5.648 million in Q1 2023[108] - Depreciation and amortization for Q1 2024 was $3.172 million, slightly up from $3.102 million in Q1 2023[108] - The company emphasizes that FFO should not be considered as cash flow from operations as defined by GAAP[106] - The company provides a reconciliation of net income to FFO to help investors understand performance better[107]

Transcontinental Realty Investors, Inc. reports Earnings for Q4 2023 DALLAS (March 21, 2024) -- Transcontinental Realty Investors, Inc. (NYSE:TCI) is reporting its results of operations for the quarter ended December 31, 2023. For the three months ended December 31, 2023, we reported net loss attributable to common shares of $2.6 million or $0.30 per diluted share, compared to a net income of $58.9 million or $6.82 per diluted share for the same period in 2022. Financial Highlights Financial Results Rental ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-09240 Transcontinental Realty Investors, Inc. (Exact name of registrant as specified in its charter) Nevada 94-6565852 (State or other jurisdiction of Incorporation or organizati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to________ Commission File Number 001-09240 TRANSCONTINENTAL REALTY INVESTORS, INC. (Exact Name of Registrant as Specified in Its Charter) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to________ Commission File Number 001-09240 TRANSCONTINENTAL REALTY INVESTORS, INC. (Exact Name of Registrant as Specified in Its Charter) (Sta ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to________ Commission File Number 001-09240 TRANSCONTINENTAL REALTY INVESTORS, INC. (Exact Name of Registrant as Specified in Its Charter) (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-09240 Transcontinental Realty Investors, Inc. (Exact name of registrant as specified in its charter) Nevada 94-6565852 (State or other jurisdiction of Incorporation or organizati ...