Transcontinental Realty Investors(US:TCI)2025-03-20 17:44Financial Performance - For Q4 2024, Transcontinental Realty Investors reported net income attributable to common shares of $0.1 million or $0.01 per diluted share, a significant improvement from a net loss of $2.6 million or $0.30 per diluted share in Q4 2023[2][6]. - The company reported a net income attributable to the Company of $5.9 million for the twelve months ended December 31, 2024, compared to $5.9 million in 2023[10]. Revenue and Occupancy - Rental revenues decreased by $1.6 million from $12.8 million in Q4 2023 to $11.2 million in Q4 2024, primarily due to a decrease in occupancy at commercial properties[4]. - Total revenue for the twelve months ended December 31, 2024, was $47.1 million, down from $49.9 million in 2023[10]. - Total occupancy was 81% as of December 31, 2024, with multifamily properties at 94% and commercial properties at 53%[7]. Operating Expenses and Losses - Net operating loss decreased by $0.4 million from $2.1 million in Q4 2023 to $1.7 million in Q4 2024, attributed to a $2.1 million decrease in operating expenses[5]. New Developments and Investments - A new lease at Stanford Center, completed on October 18, 2024, is expected to increase occupancy by 14% and rent per square foot by 20% over recent expired leases[7]. - The company secured a $27.5 million construction loan for a 234-unit multifamily property in Dallas, expected to be completed in 2026 at a total cost of approximately $49.8 million[7]. Asset Sales and Gains - The sale of 30 single-family lots from Windmill Farms generated $1.4 million, resulting in a gain of $1.1 million[7]. Interest Income and Expenses - Interest income increased to $4.6 million in Q4 2024 from $3.0 million in Q4 2023, while interest expense slightly decreased[10].