Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2024
08 August 2024 - 10:30PM
Business Wire
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) Three Months Ended
June 30, Six Months Ended June 30,
2024
2023
2024
2023
Revenues: Other Income
$
-
$
-
$
-
$
-
Expenses: General and administrative
93
76
159
294
Advisory fee to related party
21
380
50
699
Total operating expenses
114
456
209
993
Net operating loss
(114
)
(456
)
(209
)
(993
)
Interest income from related parties
1,585
2,778
3,171
4,644
Income tax provision
(309
)
(488
)
(622
)
(767
)
Net income
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
4,107,131
4,168,414
4,092,618
4,168,414
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version on businesswire.com: https://www.businesswire.com/news/home/20240808522222/en/
Income Opportunity Realty Investors, Inc. Investor
Relations Erik Johnson (469) 522-4200
investor.relations@incomeopp-invest.com
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