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Is Transcontinental Realty Investors (TCI) A Good Buy?

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Clark Street Value, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. An annual portfolio return of 74.99% was recorded by the fund for the year 2021, versus 28.71% for the S&P 500, and an IRR since the inception of 29.12%. over the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Clark Street Value, in its Q4 2021 investor letter, mentioned Transcontinental Realty Investors, Inc. (NYSE: TCI) and discussed its stance on the firm. Transcontinental Realty Investors, Inc. is a Dallas, Texas-based real estate investment company with a $347.7 million market capitalization. TCI delivered a 2.94% return since the beginning of the year, while its 12-month returns are up by 67.71%. The stock closed at $40.25 per share on January 13, 2022.

Here is what Clark Street Value has to say about Transcontinental Realty Investors, Inc. in its Q4 2021 investor letter:

"I wrote up the mess of a situation at Transcontinental Realty (TCI) and parent American Realty (ARL) earlier this week. I had one big mistake, I thought the $134MM of notes receivable were just mortgage loans consolidated from Income Opportunity Realty (IOR), that's not the case, so the fair value of TCI is ~$15 higher than the $60/share I threw out there. IOR is maybe the strangest little micro cap I've looked at, almost all of the assets of the company are a loan to Pillar, IOR's external advisor, not sure how that's okay legally and might be why it is being challenged in a shareholder lawsuit. IOR is probably worth a closer look (won't take you long)."


Our calculations show that Transcontinental Realty Investors, Inc. (NYSE: TCI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Transcontinental Realty Investors, Inc. (NYSE: TCI) delivered a 3.21% return in the past 3 months.

You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.