Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2024

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 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         View source version on businesswire.com: https://www.businesswire.com/news/home/20240509009370/en/

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