07:07 AM EDT, 09/09/2024 (MT Newswires) -- Wall Financial ( WFICF ) over the weekend reported higher second-quarter profit and revenue.

The real estate company said net income rose to $11.4 million, or $0.35 per share, from $9.2 million, or $0.29 per share, last year.

Quarterly revenue jumped to $72.6 million, from $45 million. The increase was due to acquisitions of apartment investment properties, lower vacancy rates, and higher rents on tenant turnover. Wall recorded higher daily rates for its hotels, while the company's development operations reported higher earnings due to closing of condominium units.