IOR - Income Opportunity Realty Investors Inc. Reports Earnings for Quarter Ended March 31 2024
Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended March 31, 2024. For the three months ended March 31, 2024, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $1.1 million or $0.25 per share for the same period in 2023. Our increase in net income is attributable to a decrease in general, administrative and advisory costs offset in part by a decrease in interest income.
About Income Opportunity Realty Investors, Inc.
Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company’s website at www.incomeopp-realty.com .
| INCOME OPPORTUNITY REALTY INVESTORS, INC. |
| CONSOLIDATED STATEMENTS OF OPERATIONS |
| (Dollars in thousands, except per share amounts) |
| (Unaudited) |
| Three Months Ended March 31, |
|
|
| 2024 |
|
|
|
|
| 2023 |
|
|
| Revenues: |
| Other Income |
| $ |
| - |
|
|
| $ |
| - |
|
|
| Expenses: |
| General and administrative |
|
|
| 66 |
|
|
|
|
| 218 |
|
|
| Advisory fee to related party |
|
|
| 29 |
|
|
|
|
| 319 |
|
|
| Total operating expenses |
|
|
| 95 |
|
|
|
|
| 537 |
|
|
| Net operating loss |
|
|
| (95 |
| ) |
|
|
| (537 |
| ) |
| Interest income from related parties |
|
|
| 1,586 |
|
|
|
|
| 1,866 |
|
|
| Income tax provision |
|
|
| (313 |
| ) |
|
|
| (279 |
| ) |
| Net income |
|
|
| 1,178 |
|
|
|
|
| 1,050 |
|
|
| Earnings per share |
| Basic and diluted |
| $ |
| 0.29 |
|
|
| $ |
| 0.25 |
|
|
| Weighted average common shares used in computing earnings per share |
| Basic and diluted |
|
|
| 4,107,131 |
|
|
|
|
| 4,168,414 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509009370/en/
Income Opportunity Realty Investors, Inc.
Investor Relations
Erik Johnson (469) 522-4200
investor.relations@incomeopp-invest.com