DALLAS--(BUSINESS WIRE)--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).
