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 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 3 TRANSCONTINENTAL REALTY INVESTORS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS For the Years Ended December 31, ----------------------------------------------------------- 1995 1994 1993 --------------- --------------- -------------- (dollars in thousands, except per share) 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 =============== =============== ============== The accompanying notes are an integral part of these Consolidated Financial Statements. 37