Transcontinental Realty Investors Q4 net income jumps on asset sale
Overview
U.S. real estate investor's Q4 revenue rose slightly, driven by higher commercial property occupancy
Net income surged, mainly due to gain on Villas at Bon Secour sale
Operating loss widened as expenses rose from lease-up properties
Outlook
Company did not provide specific guidance or outlook for future periods
Result Drivers
PROPERTY SALE - Net income increase was mainly due to gain on sale of Villas at Bon Secour
OPERATING EXPENSES - Operating loss widened due to higher costs from lease-up properties
COMMERCIAL OCCUPANCY - Revenue rose due to higher occupancy at commercial properties, mainly Stanford Center
Company press release: ID:nBwbX7SJza
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Rental Revenues |
| $11.51 mln |
|
Q4 EPS |
| $0.97 |
|
Q4 Net Income |
| $8.44 mln |
|
Q4 Operating Income |
| -$3.49 mln |
|
Q4 Property Operating Expenses |
| $7.82 mln |
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