Transcontinental Realty Investors, Inc. reported net income attributable to common shares of $4.6 million, or $0.53 per diluted share, for the three months ended March 31, 2025. This represents a significant increase from the $2.5 million, or $0.30 per diluted share, reported for the same period in 2024. The rise in net income was primarily attributed to an increase in gain on real estate transactions, partially offset by a decrease in interest income and an increase in tax provision.
Rental revenues for the first quarter of 2025 saw a slight increase of $0.1 million, reaching $11.4 million compared to $11.3 million in Q1 2024. This modest growth in rental revenue was primarily due to an increase in rents at the company's multifamily properties. The multifamily segment demonstrated positive operational momentum, contributing to the overall revenue stability.
The company also achieved a decrease in its net operating loss, which fell by $0.7 million to $0.6 million in Q1 2025 from $1.3 million in Q1 2024. This improvement was driven by a $0.6 million decrease in operating expenses, primarily due to lower costs for insurance and property taxes. These results indicate effective cost management and strategic asset performance contributing to enhanced profitability.
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