IOR Income Opportunity Realty Investments

Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended June 30, 2024. For the three months ended June 30, 2024, we reported net income attributable to common shares of $1.2 million or $0.28 per diluted share compared to a net income of $1.8 million or $0.44 per share for the same period in 2023. Our decrease in net income is attributable to a decrease in interest income offset in part by a decrease in advisory fees.

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 June 30, Six Months Ended June 30,

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenues: Other Income

$

-

 

$

-

 

$

-

 

$

-

 

Expenses: General and administrative

 

93

 

 

76

 

 

159

 

 

294

 

Advisory fee to related party

 

21

 

 

380

 

 

50

 

 

699

 

Total operating expenses

 

114

 

 

456

 

 

209

 

 

993

 

Net operating loss

 

(114

)

 

(456

)

 

(209

)

 

(993

)

Interest income from related parties

 

1,585

 

 

2,778

 

 

3,171

 

 

4,644

 

Income tax provision

 

(309

)

 

(488

)

 

(622

)

 

(767

)

Net income

 

1,162

 

 

1,834

 

 

2,340

 

 

2,884

 

Earnings per share Basic and diluted

$

0.28

 

$

0.44

 

$

0.57

 

$

0.69

 

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

 

4,107,131

 

 

4,168,414

 

 

4,092,618

 

 

4,168,414

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240808522222/en/

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