Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended September 30, 2023

Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2023. For the three months ended September 30, 2023, we reported net income attributable to common shares of $1.6 million or $0.39 per diluted share compared to a net income of $1.2 million or $0.29 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 EndedSeptember 30,

Nine Months EndedSeptember 30,

2023

 

2022

 

2023

 

2022

Revenues:

Other Income

$

-

 

$

-

 

$

-

 

$

-

 

Expenses:

General and administrative

 

91

 

 

114

 

 

385

 

 

374

 

Advisory fee to related party

 

346

 

 

283

 

 

1,045

 

 

824

 

Total operating expenses

 

437

 

 

397

 

 

1,430

 

 

1,198

 

Net operating loss

 

(437

)

 

(397

)

 

(1,430

)

 

(1,198

)

Interest income from related parties

 

2,516

 

 

1,821

 

 

7,160

 

 

4,506

 

Income tax provision

 

(436

)

 

(236

)

 

(1,203

)

 

(646

)

Net income

 

1,643

 

 

1,188

 

 

4,527

 

 

2,662

 

Earnings per share

Basic and diluted

$

0.39

 

$

0.29

 

$

1.09

 

$

0.64

 

Weighted average common shares used in computing earnings per share

Basic and diluted

 

4,168,414

 

 

4,168,414

 

 

4,168,414

 

 

4,168,414

 

 

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