IOR Income Opportunity Realty Investments

Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended December 31, 2023. For the three months ended December 31, 2023, we reported net income attributable to common shares of $2.5 million or $0.60 per diluted share compared to net income of $1.3 million or $0.30 per share for the same period in 2022. Our increase in net income is attributable to an increase in interest income due to an increase in interest rates in 2023.

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

December 31, 

 

Twelve Months Ended   

December 31, 

 

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

        Revenues:           Other Income  

 $

          -

 

 

 $

           -

 

 

 $

          -

 

 

 $

          -

 

Expenses:              General and administrative  

 

          105

 

 

 

              77

 

 

 

          490

 

 

 

          451

 

Advisory fee to related party  

 

           (75

)

 

 

            351

 

 

 

          970

 

 

 

       1,175

 

Total operating expenses  

 

            30

 

 

 

            428

 

 

 

       1,460

 

 

 

       1,626

 

Net operating loss  

 

           (30

)

   

 

          (428

)

 

 

      (1,460

)

   

 

     (1,626

)

Interest income from related parties  

 

       2,910

 

 

 

         2,096

 

 

 

     10,070

 

 

 

       6,602

 

Income tax provision

 

 

         (406

)

 

 

          (399

)

 

 

      (1,609

)

 

 

     (1,045

)

Net income  

 

       2,474

 

 

 

         1,269

 

 

 

       7,001

 

 

 

       3,931

 

            Earnings per share              Basic and diluted  

 $

      0.60

 

 

 $

        0.30

 

 

 $

      1.68

 

 

 $

      0.94

 

            Weighted average common shares used in computing earnings per share                                                                                                                                      Basic and diluted  

 

4,145,016

 

 

 

4,168,414

 

 

 

4,162,516

 

 

 

4,168,414

 

                   

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240321936232/en/

Income Opportunity Realty Investors, Inc. Investor Relations Erik Johnson (469) 522-4200 investor.relations@incomeopp-invest.com