Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended September 30, 2024

DALLAS--(BUSINESS WIRE)--November 07, 2024-- 

Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2024. For the three months ended September 30, 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 $1.6 million or $0.39 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         Nine Months Ended 
                            September 30,              September 30, 
                      ------------------------  -------------------------- 
                         2024         2023         2024          2023 
                      -----------  -----------  -----------  ------------- 
 
Revenues: 
   Other Income       $        -   $        -   $        -   $        - 
Expenses: 
   General and 
    administrative            71           91          230          385 
   Advisory fee to 
    related party             26          346           76        1,045 
                       ---------    ---------    ---------    --------- 
         Total 
          operating 
          expenses            97          437          306        1,430 
                       ---------    ---------    ---------    --------- 
         Net 
          operating 
          loss               (97)        (437)        (306)      (1,430) 
Interest income from 
 related parties           1,614        2,516        4,785        7,160 
   Income tax 
    provision               (319)        (436)        (941)      (1,203) 
                       ---------    ---------    ---------    --------- 
   Net income              1,198        1,643        3,538        4,527 
                       =========    =========    =========    ========= 
 
Earnings per share 
      Basic and 
       diluted        $     0.29   $     0.39   $     0.87   $     1.09 
                       =========    =========    =========    ========= 
 
Weighted average 
 common shares used 
 in computing 
 earnings per share 
      Basic and 
       diluted         4,070,327    4,168,414    4,085,134    4,168,414 
                       =========    =========    =========    ========= 
 

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    CONTACT:    Income Opportunity Realty Investors, Inc. 

Investor Relations

Erik Johnson (469) 522-4200

investor.relations@incomeopp-invest.com

(END) Dow Jones Newswires

November 07, 2024 17:00 ET (22:00 GMT)