Transcontinental Realty Investors, Inc. and Abode Properties Announce Advisor May Make Purchases of Stock
June 19 2018 - 11:57AM
Business Wire
Transcontinental Realty Investors, Inc. (NYSE: TCI) and its
subsidiary, Abode Properties, have been informed that their
management company, Pillar Income Asset Management, has made a
determination to acquire, from time to time, some of the shares of
Common Stock of TCI. Any purchases of TCI Common Stock by Pillar
will only be made in accordance with the requirements of Rule
10b-18 under the Securities Act of 1933, as amended (the “1933
Act”). Pillar’s executive management (who also serve in the same
capacity as Executive Officers for TCI) may use acquired shares as
incentive or other considerations such as contributions to Pillar’s
employee 401(k) plan. Any purchases of TCI Common Stock by Pillar
will satisfy Rule 10b-18’s manner, timing, price, and volume
conditions. While Pillar seeks to acquire any TCI Common Stock,
TCI’s own previously approved repurchase program will be held in
suspension.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180619006072/en/
“Considering current trading levels of TCI stock and our general
overview of the strength of the US economy, both now and in the
near future, we believe acquiring shares back is financially
prudent,” commented Daniel Moos, Pillar Income Asset Management’s
President and CEO.
Pillar Income Asset Management, Inc. 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 American: IOR), Abode
Properties, and Regis Property Management, LLC.
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.
Abode Properties is a subsidiary of Transcontinental Realty
Investors Inc., (NYSE: TCI), a Dallas-based real estate investment
company. Abode’s investment and strategic focus is to acquire,
develop, and operate a portfolio of desirable multifamily
residential properties, while capitalizing on our ability to obtain
long term and static debt structures. The portfolio stands to
benefit from historically established, proven, and successful
operational practices, seasoned on-site management, and an
experienced leadership team with forward thinking capabilities in
order to realize maximum cash flows and consistent returns, while
maintaining unequaled resident and customer service. We are
disciplined and prudent allocators of capital and we will continue
growing our geographically diverse portfolio from the Southwest to
the Southeast. These markets are geographically located in areas of
the country that correspond with both sustainable and viable
economic growth activity.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180619006072/en/
On behalf of Transcontinental Realty Investors Inc.Chris
Childress, 469-522-4275
Transcontinental Realty ... (NYSE:TCI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Transcontinental Realty ... (NYSE:TCI)
Historical Stock Chart
From Jul 2023 to Jul 2024