Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results
Income Opportunity Realty Investors, Inc. (IOR) reported strong first-quarter results for 2021, with net income of $1,352,000 ($0.32 per share), up from $841,000 ($0.20 per share) in Q1 2020. General and administrative expenses increased to $188,000 from $139,000, primarily due to higher operating costs. Interest income fell to $1.2 million from $1.5 million due to a decrease in the prime interest rate. Notably, the company achieved $1 million in other income through the recovery of a previously written-off note, boosting its total assets to $105.8 million.
- Net income increased to $1,352,000 in Q1 2021 from $841,000 in Q1 2020.
- Earnings per share rose to $0.32 from $0.20 year-over-year.
- Achieved $1 million in other income from the recovery of a previously written-off note.
- Total assets increased to $105.8 million.
- General and administrative expenses increased by $49,000 compared to the previous year.
- Interest income decreased by $300,000 due to a lower prime interest rate.
Income Opportunity Realty Investors, Inc. (NYSE American: IOR), a Dallas-based real estate investment company, today reported results of operations for the first quarter ended March 31, 2021.
For the three months ended March 31, 2021, the Company reported net income of
Our primary business is investing in real estate and mortgage note receivables.
Expenses
General and administrative expenses were
Advisory fees were
Net income fee to related party was
Other income (expense)
Interest income decreased to
Other income was
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 BALANCE SHEETS | ||||||||||
| March 31, | December 31, | |||||||||
2021 |
2020 |
|||||||||
| (Unaudited) | (Audited) | |||||||||
| (dollars in thousands, except par value amount) | ||||||||||
| Assets | ||||||||||
| Current assets | ||||||||||
| Cash and cash equivalents | $ |
- |
|
$ |
12 |
|
||||
| Receivable and accrued interest from related parties |
|
94,307 |
|
|
90,526 |
|
||||
| Total current assets |
|
94,307 |
|
|
90,538 |
|
||||
| Non current assets | ||||||||||
| Notes and interest receivable from related parties |
|
11,503 |
|
|
13,930 |
|
||||
| Total non current assets |
|
11,503 |
|
|
13,930 |
|
||||
| Total Assets | $ |
105,810 |
|
$ |
104,468 |
|
||||
| Liabilities and Shareholders' Equity | ||||||||||
| Liabilities: | ||||||||||
| Accounts payable and other liabilities | $ |
2 |
|
$ |
12 |
|
||||
| Total liabilities |
|
2 |
|
|
12 |
|
||||
| Shareholders’ equity: | ||||||||||
| Common stock, |
|
42 |
|
|
42 |
|
||||
| Treasury stock at cost, 5,261 shares in 2021 and 2020 |
|
(39 |
) |
|
(39 |
) |
||||
| Paid-in capital |
|
61,955 |
|
|
61,955 |
|
||||
| Retained earnings |
|
43,850 |
|
|
42,498 |
|
||||
| Total shareholders' equity |
|
105,808 |
|
|
104,456 |
|
||||
| Total liabilities and shareholders' equity | $ |
105,810 |
|
$ |
104,468 |
|
||||
| INCOME OPPORTUNITY REALTY INVESTORS, INC. | |||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
| (Unaudited) | |||||||||||
| For the Three Months Ended March 31, | |||||||||||
|
2021 |
|
|
2020 |
|
||||||
| (dollars in thousands, except per share amounts) | |||||||||||
| Revenues: | |||||||||||
| Revenue from operations | $ |
- |
|
$ |
- |
|
|||||
| Expenses: | |||||||||||
{
"@context": "https://schema.org",
"@type": "FAQPage",
"name": "Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results FAQs",
"mainEntity": [
{
"@type": "Question",
"name": "What was Income Opportunity Realty Investors' net income for Q1 2021?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The net income for Q1 2021 was $1,352,000."
}
},
{
"@type": "Question",
"name": "How much did earnings per share increase for IOR in Q1 2021?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Earnings per share increased to $0.32 in Q1 2021 from $0.20 in Q1 2020."
}
},
{
"@type": "Question",
"name": "What contributed to the increase in other income for Income Opportunity Realty Investors?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The increase in other income was primarily due to the collection of a note previously written off, totaling $1 million."
}
},
{
"@type": "Question",
"name": "What were the total assets of IOR as of March 31, 2021?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The total assets of Income Opportunity Realty Investors as of March 31, 2021, were $105.8 million."
}
},
{
"@type": "Question",
"name": "How did general and administrative expenses change for IOR in Q1 2021?",
"acceptedAnswer": {
"@type": "Answer",
"text": "General and administrative expenses increased to $188,000 in Q1 2021 from $139,000 in Q1 2020."
}
}
]
}
FAQ
What was Income Opportunity Realty Investors' net income for Q1 2021?
The net income for Q1 2021 was $1,352,000.
How much did earnings per share increase for IOR in Q1 2021?
Earnings per share increased to $0.32 in Q1 2021 from $0.20 in Q1 2020.
What contributed to the increase in other income for Income Opportunity Realty Investors?
The increase in other income was primarily due to the collection of a note previously written off, totaling $1 million.
What were the total assets of IOR as of March 31, 2021?
The total assets of Income Opportunity Realty Investors as of March 31, 2021, were $105.8 million.
How did general and administrative expenses change for IOR in Q1 2021?
General and administrative expenses increased to $188,000 in Q1 2021 from $139,000 in Q1 2020.
Income Opportunity Realty Investors, Inc.
NYSE:IORIOR RankingsIOR Latest NewsNov 7, 2024
Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended September 30, 2024
Aug 8, 2024
Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2024
May 9, 2024
Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2024
IOR Stock Data
73.41M
415.31k
89.79%
0.25%
0.02%
Mortgage Finance
Real Estate Investment Trusts
United States of America
DALLAS
| |||||||||||