StockNews.com Initiates Coverage on Transcontinental Realty Investors (NYSE:TCI)

StockNews.com assumed coverage on shares of Transcontinental Realty Investors (NYSE:TCI) in a report published on Wednesday. The firm issued a sell rating on the real estate investment trust’s stock.

Transcontinental Realty Investors Stock Performance

Shares of TCI opened at $28.92 on Wednesday. The stock has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $30.94. The company has a market cap of $249.87 million, a price-to-earnings ratio of 49.86 and a beta of 0.60. Transcontinental Realty Investors has a 52-week low of $27.04 and a 52-week high of $43.40.

Institutional Investors Weigh In On Transcontinental Realty Investors

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in shares of Transcontinental Realty Investors by 340.2% in the first quarter. Russell Investments Group Ltd. now owns 90,821 shares of the real estate investment trust’s stock worth $3,419,000 after acquiring an additional 70,189 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Transcontinental Realty Investors during the second quarter valued at approximately $219,000. Finally, TCW Group Inc. increased its holdings in shares of Transcontinental Realty Investors by 1.5% in the fourth quarter. TCW Group Inc. now owns 67,987 shares of the real estate investment trust’s stock valued at $2,350,000 after purchasing an additional 1,002 shares in the last quarter.

About Transcontinental Realty Investors

Transcontinental Realty Investors, Inc, a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, shopping centers, and developed and undeveloped land. The Company invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate.