UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.1)*
TRANSCONTINENTAL REALTY INVESTORS, INC.
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(Name of Issuer)
$.01 Par Value Common Stock
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(Title of Class of Securities)
893617-20-9
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(CUSIP Number)
Randall M. Paulson, President
Transcontinental Realty Investors, Inc.
10670 North Central Expressway, Suite 300, Dallas TX 75231
Tel. (214) 692-4700
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 16, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this Schedule
13D, and is filing this schedule because of Rule 13d-1(b)(3) or
(4), check the following box ___.
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a
prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).
<PAGE>
CUSIP NO. 893617-20-9
1) Names of Reporting Persons S.S. or IRS Identification Nos.
of Above Person ###-##-####
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2) Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) PF
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5) Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
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6) Citizenship or Place of Organization United States
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Number of (7) Sole Voting Power 248,050
Shares Bene- --------------------------
ficially (8) Shared Voting Power 0
Owned by --------------------------
Each (9) Sole Dispositive Power 248,050
Reporting -----------------------
Person
With (10) Shared Dispositive Power 0
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11) Aggregate Amount Beneficially Owned by Each Reporting
Person 248,050
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12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions)
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13) Percent of Class Represented by Amount in Row (11) 6.3
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14) Type of Reporting Person (See Instructions) IN
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<PAGE>Item 1. Security and Issuer.
The class of equity securities to which this Schedule 13D
relates is the common stock, $.01 par value ("Common Stock") of
Transcontinental Realty Investors, Inc. The principal executive
offices of Transcontinental Realty Investors, Inc. are located at
10670 North Central Expressway, Suite 300, Dallas, TX 75231.
Item 2. Identity and Background.
This statement is being filed by Maurice A. Halperin. My
business address is 2500 North Military Trail, Suite 225, Boca
Raton, Florida 33431. I am a private investor. During the last
five years, I have not been convicted in a criminal proceeding
(excluding traffic violations or other similar misdemeanors) and I
have not been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which resulted in my
being subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with
respect to such laws. I am a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
The source of the funds for the purchase of the Common Stock
was my personal funds. The total amount of money used to purchase
the Common Stock is approximately $2,715,370.
Item 4. Purpose of Transaction.
The purpose for the acquisitions of the Common Stock is
investment.
I plan to acquire additional Common Stock with my personal
funds for investment, depending on market conditions.
Item 5. Interest in Securities of the Issuer.
As of June 17, 1997, I beneficially own 248,050 shares, or
approximately 6.3 percent of the outstanding Common Stock. I have
the sole power to vote and dispose of the Common Stock. There is no
shared power to vote or dispose of the Common Stock I own.
During the period from April 15, 1997 through June 17, 1997,
I purchased a total of 49,600 shares of the Common Stock through
the New York Stock Exchange in thirty-three open market
transactions. The shares were purchased on my behalf by Raymond
James & Associates, a securities broker-dealer. The table below
lists the transaction date for each transaction, number of shares
purchased, price per share and total price.
<PAGE>
Total Price
(Includes
Commissions
Amount Price Per and/or Other
Date of Purchase Purchased Share Charges)
04/16/97 2,800 14.459 40,520
04/14/97 1,300 13.846 18,033
04/18/97 1,100 14.50 15,983
04/23/97 3,300 14.50 47,883
04/24/97 2,300 14.58 33,567
04/25/97 500 14.50 7,283
04/28/97 5,000 14.50 72,533
04/30/97 1,500 14 3/8 21,595
05/01/97 500 14 3/8 7,220
05/02/97 400 14 3/8 5,783
05/05/97 900 14 3/8 12,970
05/06/97 1,700 14 3/8 24,470
05/09/97 3,000 14.50 43,533
05/14/97 500 14.25 7,158
05/15/97 1,000 14.25 14,283
05/16/97 500 14.25 7,158
05/19/97 200 14.25 2,883
05/20/97 100 14.25 1,458
05/21/97 500 14.25 7,158
05/22/97 300 14.25 4,308
05/23/97 900 14.25 12,858
05/27/97 2,100 14.184 29,820
05/29/97 500 14 1/8 7,095
05/30/97 1,800 14 1/8 25,458
06/02/97 1,300 14 1/8 18,395
06/03/97 400 14 5,700
06/04/97 1,800 14 25,233
06/05/97 200 14 2,833
06/06/97 200 14 2,833
06/09/97 1,000 14 14,033
06/13/97 3,000 14.25 42,783
06/16/97 4,200 14.5268 61,049
06/17/97 4,800 15.1484 72,745
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of
the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits.
None.
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is
true, complete and accurate.
DATE June 19, 1997
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/S/ Maurice A. Halperin
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Signature
Maurice A. Halperin
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Name and Title
The original statement shall be signed by each person on
whose behalf the statement is filed or his authorized
representative. If the statement is signed on behalf of a person
by his authorized representative (other than an executive
officer or general partner of this filing person), evidence of
the representative's authority to sign on behalf of such person
shall be filed with the statement, provided, however, that a
power of attorney for this purpose which is already on file with
the Commission may be incorporated by reference. The name and
any title of each person who signs the statement shall be typed
or printed beneath his signature.
Attention: Intentional misstatements or omissions of fact
constitute Federal criminal violations (See 18 U.S.C. 1001).