$TCI

TRANSCONTINENTAL REALTY INVESTORS INC

CIK:0000733590|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Rental revenues (including $152 and $144 for the three months ended June 30, 2026 and 2025, respectively, and $345 and $289 for the six months ended June 30, 2026 and 2025, respectively, from related parties)	$ 12,236	$ 11,510	$ 23,892	$ 22,937
Other income	630	650	1,315	1,231
Total revenue	12,866	12,160	25,207	24,168
Expenses:
Property operating expenses (including $92 and $88 for the three months ended June 30, 2026 and 2025, respectively, and $190 and $174 for the six months ended June 30, 2026 and 2025, respectively, from related parties)	8,176	6,535	15,509	12,512
Depreciation and amortization	3,697	3,062	7,327	5,945
General and administrative (including $1,011 and $1,025 for the three months ended June 30, 2026 and 2025, respectively, and $1,983 and $1,996 for the six months ended June 30, 2026 and 2025, respectively, from related parties)	1,351	1,383	2,678	2,735
Advisory fee to related party	1,986	2,005	3,999	4,436
Total operating expenses	15,210	12,985	29,513	25,628
Net operating loss	(2,344)	(825)	(4,306)	(1,460)
Interest income (including $1,848 and $2,521 for the three months ended June 30, 2026 and 2025, respectively, and $4,297 and $5,038 for the six months ended June 30, 2026 and 2025, respectively, from related parties)	3,155	3,982	7,559	8,610
Interest expense	(2,772)	(1,738)	(5,706)	(3,519)
Gain on sale or write-down of assets, net	814	947	1,199	4,838
Income tax benefit (provision)	127	(2,042)	558	(3,364)
Net (loss) income	(1,020)	324	(696)	5,105
Net income attributable to noncontrolling interest	(107)	(155)	(263)	(318)
Net (loss) income attributable to the Company	$ (1,127)	$ 169	$ (959)	$ 4,787
Earnings per share - basic and diluted
Basic (in dollars per share)	$ (0.13)	$ 0.02	$ (0.11)	$ 0.55
Diluted (in dollars per share)	$ (0.13)	$ 0.02	$ (0.11)	$ 0.55
Weighted average common shares used in computing earnings per share - basic and diluted
Basic (in shares)	8,639,316	8,639,316	8,639,316	8,639,316
Diluted (in shares)	8,639,316	8,639,316	8,639,316	8,639,316

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flow From Operating Activities:
Net (loss) income	$ (696)	$ 5,105
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Gain on sale or write down of assets	(1,199)	(4,838)
Depreciation and amortization	7,371	5,979
Provision (recovery) for bad debts	184	(47)
Changes in assets and liabilities:
Other assets	(3,362)	(5,885)
Related party receivable	(6,191)	(6,443)
Interest payable	486	156
Accounts payable and other liabilities	(1,960)	(4,367)
Net cash used in operating activities	(5,367)	(10,340)
Cash Flow From Investing Activities:
Collection of notes receivable	2,799	1,664
Purchase of short-term investments	(29,005)	(17,308)
Redemption and/or maturity of short-term investments	30,531	39,060
Development and renovation of real estate	(11,548)	(53,376)
Deferred leasing costs	(30)	(339)
Proceeds from sale of assets	2,064	4,868
Net cash used in investing activities	(5,189)	(25,431)
Cash Flow From Financing Activities:
Proceeds from mortgages and other notes payable	5,047	43,027
Payments on mortgages and other notes payable	(1,393)	(12,508)
Purchase of IOR shares	(425)	(1,025)
Deferred financing costs	(37)	0
Net cash provided by financing activities	3,192	29,494
Net decrease in cash, cash equivalents and restricted cash	(7,364)	(6,277)
Cash, cash equivalents and restricted cash, beginning of period	29,304	40,472
Cash, cash equivalents and restricted cash, end of period	21,940	34,195
Supplemental cash flow information
Cash paid for interest	4,812	3,000
Cash paid for taxes	178	166
Non-cash investing and financing activities:
Accrued development costs	$ 4,012	$ 13,738

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Real estate	$ 603,217	$ 602,431
Cash and cash equivalents	10,703	14,071
Restricted cash	11,237	15,233
Short-term investments	73,438	74,964
Notes receivable (including $55,032 and $57,468 at June 30, 2026 and December 31, 2025, respectively, from related parties)	120,879	123,678
Receivables from related party	175,938	169,747
Other assets (including $1,030 and $1,259 at June 30, 2026 and December 31, 2025, respectively, from related parties)	134,982	132,396
Total assets	1,130,394	1,132,520
Liabilities:
Mortgages and other notes payable	214,486	210,825
Accounts payable and other liabilities (including $31 and $30 at June 30, 2026 and December 31, 2025, respectively, to related parties)	45,990	51,142
Accrued interest	4,297	3,811
Deferred revenue	581	581
Total liabilities	265,354	266,359
Equity
Common stock, $0.01 par value, 10,000,000 shares authorized; 8,639,316 shares issued and outstanding	86	86
Additional paid-in capital	262,351	262,050
Retained earnings	583,637	584,596
Total shareholders' equity	846,074	846,732
Noncontrolling interest	18,966	19,429
Total equity	865,040	866,161
Total liabilities and equity	$ 1,130,394	$ 1,132,520