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 Farmsfor $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/Mis Actual Consensu

s s

Estimate

Q2 $11.51

Rental mln

Revenues

Q2 Net $324,000

Income

Q2 -$825,00

Operatin 0

g Income

Q2 $6.54

Property mln

Operatin

g

Expenses

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)