IOR Income Opportunity Realty Investments

Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended March 31, 2022. For the three months ended March 31, 2022, we reported net income attributable to common shares of $0.6 million or $0.15 per diluted share, compared to $1.4 million or $0.32 per diluted share for the same period in 2021.

Financial Results

Net income attributable to common shares decreased $0.7 million from $1.4 million for the three months ended March 31, 2021 to $0.6 million for the three months ended March 31, 2022. The decrease in net income is primarily attributed to a tax credit received in the prior year.

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,

2022

 

2021

  Revenues: Other Income

$

-

 

$

-

 

Expenses: General and administrative

 

192

 

 

188

 

Advisory fee to related party

 

268

 

 

336

 

Total operating expenses

 

460

 

 

524

 

Net operating loss

 

(460

)

 

(524

)

Interest income from related parties

 

1,252

 

 

1,218

 

Other Income

 

-

 

 

1,017

 

Income tax provision

 

(166

)

 

(359

)

Net income applicable to common shares

 

626

 

 

1,352

 

  Earnings per share Basic and diluted

$

0.15

 

$

0.32

 

  Weighted average common shares used in computing earnings per share Basic and diluted

 

4,168,414

 

 

4,168,414

 

 

 

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Income Opportunity Realty Investors, Inc. Investor Relations Erik Johnson (800) 400-6407 investor.relations@incomeopp-realty.com