Transcontinental
Realty Investors, Inc. (TCI) today recognized a 249% increase in
stock value over the period of eighteen months. TCI’s common stock had a
quoted value per share of approximately $10.58 as of January 30, 2014.
“As we look back on our strategic commitment to fortify our portfolio,
we are pleased to see solid results. This is evidenced by both our
residential and commercial occupancy levels running higher than last
year, and significantly higher over the previous several years,” stated
CEO and President Daniel J. Moos. “We’re also starting to see new
development opportunities, which should provide us with enhanced ability
to sell various land assets. We will continue to adapt to the improved
results in the Texas and surrounding regions’ real estate market and are
cautiously optimistic about the future as the market continues to
improve.”
With over 40 years in the real estate industry, Gene Phillips, advisory
source to Pillar Income Asset Management, Inc., notes that the changes
in the current market are in keeping with his experience through
previous recessions. “The U.S. residential real estate market grew
steadily in 2013 and I foresee steady growth in commercial real estate
in 2014. It’s commonly known that the U.S. economy recovers on the back
of the real estate industry. In particular, a low tax environment and
low cost of living enhance Texas recovery even further as major
investors and corporations look to our state and neighboring states for
relocation and development opportunities.”
Transcontinental
Realty Investors maintains a strong emphasis on creating
greater shareholder value through acquisition, financing, operation,
developing, and sale of real estate across every geographic region in
the United States. A New York Stock Exchange company, Transcontinental
is traded under the symbol "TCI". Transcontinental produces revenue
through the professional management of apartments, office buildings,
warehouses, and retail centers that are "undervalued" or
"underperforming" at the time of acquisition. Value is added under
Transcontinental ownership, and the properties are repositioned into
higher classifications through physical improvements and improved
management. Transcontinental also develops new properties, such as
luxury apartment homes principally on land it owns or acquires.
Pillar Income Asset Management, Inc. (www.pillarincome.com)
is a Dallas-based real estate management company, which develops and
manages in excess of $2.5 billion of real estate for public and private
real estate entities. Affiliated companies under management or
advisement by Pillar include American Realty Investors, Inc. (NYSE:
ARL); Transcontinental Realty Investors, Inc. (NYSE:
TCI); Income Opportunity Realty Investors, Inc. (NYSE
MKT:
IOT); and Regis Property Management, LLC (www.regisinc.com).
Copyright Business Wire 2014