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, 2023. For the three months ended March 31, 2023, we reported net income attributable to common shares of $1.1 million or $0.25 per diluted share compared to a net income of $0.6 million or $0.15 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 March 31,

2023

 

2022

  Revenues: Other Income

$

-

 

$

-

 

Expenses: General and administrative

 

218

 

 

192

 

Advisory fee to related party

 

319

 

 

268

 

Total operating expenses

 

537

 

 

460

 

Net operating loss

 

(537

)

 

(460

)

Interest income from related parties

 

1,866

 

 

1,252

 

Income tax provision

 

(279

) 

 

(166

)

Net income applicable to common shares

 

1,050

 

 

626

 

  Earnings per share Basic and diluted

$

0.25

 

$

0.15

 

  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 (469) 522-4200 Investor.relations@incomeopp-invest.com