Business
Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2023
Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30,
About this update from Income Opportunity Realty Investors, Inc.
Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended June 30, 2023. For the three months ended June 30, 2023, we reported net income attributable to common shares of $1.8 million or $0.44 per diluted share compared to a net income of $0.8 million or $0.20 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 Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues: Other Income $ - $ - $ - $ - Expenses: General and administrative 76 68 294 260 Advisory fee to related party 380 273 699 541 Total operating expenses 456 341 993 801 Net operating loss (456 ) (341 ) (993 ) (801 ) Interest income from related parties 2,778 1,433 4,644 2,685 Income tax provision (488 ) (244 ) (767 ) (410 ) Net income 1,834 848 2,884 1,474 Earnings per share Basic and diluted $ 0.44 $ 0.20 $ 0.69 $ 0.35 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 View source version on businesswire.com: https://www.businesswire.com/news/home/20230810533240/en/
View stock analysis, news, and events for Income Opportunity Realty Investors, Inc.