Transcontinental Realty Investors Q2 rental revenue rises
Overview
Transcontinental Realty Q2 net income drops to $0.2 mln from $1.5 mln yr ago
Rental revenues rose to $11.5 mln, driven by higher occupancy at Stanford Center
Company sold 30 single-family lots from holdings in Windmill Farms for $1.4 mln, gaining $1.1 mln on sale
Result Drivers
OCCUPANCY INCREASE - Rental revenues rose due to higher occupancy at Stanford Center
GAIN ON SALE - Company gained $1.1 mln from the sale of 30 single-family lots from our holdings in Windmill Farms
EXPENSE REDUCTION - Operating expenses decreased due to lower insurance and property tax costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Rental Revenues |
| $11.51 mln |
|
Q2 Net Income |
| $324,000 |
|
Q2 Operating Income |
| -$825,000 |
|
Q2 Property Operating Expenses |
| $6.54 mln |
|
Press Release: ID:nBwNwcfYa
