Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2024

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05/09/2024 - 04:30 PM

DALLAS--(BUSINESS WIRE)-- 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