Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended December 31, 2022

Rhea-AI Summary

Income Opportunity Realty Investors (AMEX:IOR) reported a net income of $1.3 million for the quarter ended December 31, 2022, up from $0.7 million in the same period of 2021. This equates to $0.30 per diluted share compared to $0.17 per share last year. The increase in net income is primarily attributed to a rise in interest income driven by higher interest rates in 2022. The company continues to focus on real estate investments through direct equity ownership and partnerships.

Positive

• Net income rose to $1.3 million from $0.7 million YoY.
• Earnings per share improved to $0.30 from $0.17 YoY.

Negative

• Operating expenses increased with general and administrative costs at $77,000 compared to $94,000 in the prior year.

DALLAS--(BUSINESS WIRE)-- Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended December 31, 2022. For the three months ended December 31, 2022, we reported net income attributable to common shares of $1.3 million or $0.30 per diluted share compared to a net income of $0.7 million or $0.17 per share for the same period in 2021. Our increase in net income is attributable to an increase in interest income due to an increase in interest rates in 2022.

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 December 31,								Twelve Months Ended December 31,
		2022				2021				2022				2021
Revenues:
Other Income		$	-			$	-			$	-			$	-
Expenses:
General and administrative			77				94				451				470
Advisory fee to related party			351				259				1,175				1,108
Total operating expenses			428				353				1,626				1,578
Net operating loss			(428	)			(353	)			(1,626	)			(1,578	)
Interest income from related parties			2,096				1,256				6,602				4,953
Other Income			-				-				-				1,179
Income tax provision			(399	)			(188	)			(1,045	)			(956	)
Net income applicable to common shares			1,269				715				3,931				3,598
Earnings per share
Basic and diluted		$	0.30			$	0.17			$	0.94			$	0.86
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

 

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Income Opportunity Realty Investors, Inc.

Investor Relations

Erik Johnson (469) 522-4200

Investor.relations@incomeopp-invest.com

Source: Income Opportunity Realty Investors, Inc.

FAQ

What are the earnings results for Income Opportunity Realty Investors (IOR) for Q4 2022?

Income Opportunity Realty Investors reported a net income of $1.3 million for Q4 2022, up from $0.7 million in Q4 2021.

How did the EPS change for Income Opportunity Realty Investors (IOR) in Q4 2022?

The earnings per share for Income Opportunity Realty Investors increased to $0.30 in Q4 2022 from $0.17 in Q4 2021.