Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2024
Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2024
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 |
| |
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Contacts
Income Opportunity Realty Investors, Inc.
Investor Relations
Erik Johnson (469) 522-4200
investor.relations@incomeopp-invest.com
Source: Income Opportunity Realty Investors, Inc.