<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
[X] ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE YEAR ENDED DECEMBER 31, 1995
-----------------
Commission File Number 1-9240
------
TRANSCONTINENTAL REALTY INVESTORS, INC.
-----------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Nevada 94-6565852
- ------------------------------- --------------------
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.
10670 North Central Expressway, Suite 300, Dallas, Texas 75231
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(214) 692-4700
----------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
Securities Registered Pursuant to Section 12(b) of the Act:
Name of each exchange on
Title of each class which registered
- ------------------------------ ----------------------------
Common Stock, $.01 par value New York Stock Exchange
Securities Registered Pursuant to Section 12(g) of the Act:
NONE
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for at least the past 90 days. Yes X No
--- ---
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. [X]
As of March 15, 1996, the Registrant had 4,012,275 shares of Common Stock
outstanding. Of the total shares outstanding 2,505,866 were held by other than
those who may be deemed to be affiliates, for an aggregate value of $25,058,660
based on the last trade as reported on the New York Stock Exchange on March 15,
1996. The basis of this calculation does not constitute a determination by the
Registrant that all of such persons or entities are affiliates of the
Registrant as defined in Rule 405 of the Securities Act of 1933, as amended.
Documents Incorporated by Reference:
NONE
1
<PAGE> 2
This Form 10-K/A amends the Registrant's annual report on Form 10-K for the
fiscal year ended December 31, 1995 as follows:
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - page 37
2
<PAGE> 3
TRANSCONTINENTAL REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
For the Years Ended December 31,
-----------------------------------------------------------
1995 1994 1993
--------------- --------------- --------------
(dollars in thousands, except per share)
<S> <C> <C> <C>
Income
Rents.............................. $ 46,770 $ 36,494 $ 30,373
Interest (including $27 in 1993
from affiliates)................. 1,502 1,489 1,869
--------------- --------------- --------------
48,272 37,983 32,242
Expenses
Property operations (including
$2,928 in 1995, $1,280 in 1994
and $747 in 1993 to affiliates).. 30,211 26,944 23,659
Equity in losses of investees...... 1,083 90 262
Interest........................... 16,114 10,642 8,662
Depreciation....................... 8,619 6,095 5,435
Advisory fees to affiliate......... 1,770 1,708 1,548
General and administrative
(including $877 in 1995, $706
in 1994 and $856 in 1993 to
affiliates)...................... 1,960 1,765 1,991
Litigation settlement.............. (500) - -
Provision for losses............... - - 873
--------------- --------------- --------------
59,257 47,244 42,430
--------------- --------------- --------------
(Loss) before gain on sale of part-
nership interests, gain on sale of
real estate and extraordinary gain. (10,985) (9,261) (10,188)
Gain on sale of partnership interests - 2,514 -
Gain on sale of real estate.......... 5,822 2,153 24
--------------- --------------- --------------
(Loss) before extraordinary gain..... (5,163) (4,594) (10,164)
Extraordinary gain................... 1,437 1,189 1,594
--------------- --------------- --------------
Net (loss)........................... $ (3,726) $ (3,405) $ (8,570)
=============== =============== ==============
Earnings per share
(Loss) before extraordinary gain..... $ (1.29) $ (1.15) $ (2.52)
Extraordinary gain................... .36 .30 .40
--------------- --------------- --------------
Net (loss)........................... $ (.93) $ (.85) $ (2.12)
=============== =============== ==============
Weighted average Common shares used
in computing earnings per share.... 4,012,275 4,012,275 4,033,332
=============== =============== ==============
</TABLE>
The accompanying notes are an integral part of these Consolidated Financial
Statements.
37
