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) | ||||||||||||||||
| Â | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
 |
2024 |
 |
 |
2023 |
 |
 |
2024 |
 |
 |
2023 |
 |
|||||
| Revenues: | ||||||||||||||||
| Other Income | $ |
- |
 |
$ |
- |
 |
$ |
- |
 |
$ |
- |
 |
||||
| Expenses: | ||||||||||||||||
| General and administrative | Â |
93 |
 |
 |
76 |
 |
 |
159 |
 |
 |
294 |
 |
||||
| Advisory fee to related party | Â |
21 |
 |
 |
380 |
 |
 |
50 |
 |
 |
699 |
 |
||||
| Total operating expenses | Â |
114 |
 |
 |
456 |
 |
 |
209 |
 |
 |
993 |
 |
||||
| Net operating loss | Â |
(114 |
) |
 |
(456 |
) |
 |
(209 |
) |
 |
(993 |
) |
||||
| Interest income from related parties | Â |
1,585 |
 |
 |
2,778 |
 |
 |
3,171 |
 |
 |
4,644 |
 |
||||
| Income tax provision | Â |
(309 |
) |
 |
(488 |
) |
 |
(622 |
) |
 |
(767 |
) |
||||
| Net income | Â |
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 | Â |
4,107,131 |
 |
 |
4,168,414 |
 |
 |
4,092,618 |
 |
 |
4,168,414 |
 |
||||
Â
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808522222/en/
Contacts
Income Opportunity Realty Investors, Inc.
Investor Relations
Erik Johnson (469) 522-4200
investor.relations@incomeopp-invest.com
