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 EndedMarch 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

 

 

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Income Opportunity Realty Investors, Inc. Investor Relations Erik Johnson [phone] [e-mail]