{"id":494691,"date":"2021-05-17T17:52:01","date_gmt":"2021-05-17T21:52:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/income-opportunity-realty-investors-inc-reports-first-quarter-2021-results\/"},"modified":"2021-05-17T17:52:01","modified_gmt":"2021-05-17T21:52:01","slug":"income-opportunity-realty-investors-inc-reports-first-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/income-opportunity-realty-investors-inc-reports-first-quarter-2021-results\/","title":{"rendered":"Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results"},"content":{"rendered":"

<\/p>\n

Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results<\/b><\/p>\n

DALLAS–(BUSINESS WIRE<\/a>)–
\nIncome 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.\n<\/p>\n

\nFor the three months ended March 31, 2021, the Company reported net income of $1,352,000 or $0.32 per share, as compared to net income of $841,000 or $0.20 per share for the same period ended 2020.\n<\/p>\n

\nOur primary business is investing in real estate and mortgage note receivables.\n<\/p>\n

Expenses <\/b><\/p>\n

\nGeneral and administrative expenses were $188 thousand for the three months ended March 31, 2021. This represents an increase of $49 thousand, compared to general and administrative expenses of $139 thousand for the three months ended March 31, 2020. This increase was primarily due to an increase in various operating expenses.\n<\/p>\n

\nAdvisory fees were $197 thousand for the three months ended March 31, 2021 compared to $189 thousand for the same period in 2020 for an increase of $8 thousand. Advisory fees are computed based on a gross asset fee of 0.0625% per month (0.75% per annum) of the average of the gross asset value.\n<\/p>\n

\nNet income fee to related party was $139 thousand for the three months ended March 31, 2021. This represents an increase of $53 thousand, compared to the net income fee of $86 thousand for the three months ended March 31, 2020. The net income fee paid to our Advisor is calculated at 7.5% of net income.\n<\/p>\n

Other income (expense) <\/b><\/p>\n

\nInterest income decreased to $1.2 million for the three months ended March 31, 2021 compared to $1.5 million for the same period in 2020. The decrease of $300 thousand was primarily due to a decrease in the prime interest rate used to calculate interest on the receivable amount owed from our Advisor and other related parties.\n<\/p>\n

\nOther income was $1 million for the three months ended March 31, 2021 due to the collection of a note previously written off.\n<\/p>\n

About Income Opportunity Realty Investors, Inc.<\/i><\/b><\/p>\n

\nIncome 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\u2019s website at www.incomeopp-realty.com<\/a><\/span>.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
INCOME OPPORTUNITY REALTY INVESTORS, INC.<\/b><\/td>\n<\/tr>\n
CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n
<\/tr>\n
\n\n\n\nMarch 31,<\/b><\/td>\n\nDecember 31,<\/b><\/td>\n<\/tr>\n
\n\n\n\n

2021<\/b><\/p>\n<\/td>\n

\n\n

2020<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n(Unaudited)<\/b><\/td>\n\n(Audited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n(dollars in thousands, except par value amount)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Assets<\/b><\/td>\n\n\n\n\n\n<\/tr>\n
\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Current assets<\/td>\n\n\n\n\n\n<\/tr>\n
Cash and cash equivalents<\/td>\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n12\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Receivable and accrued interest from related parties<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n94,307\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n90,526\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total current assets<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n94,307\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n90,538\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Non current assets<\/td>\n\n\n\n\n<\/tr>\n
Notes and interest receivable from related parties<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n11,503\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n13,930\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total non current assets<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n11,503\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n13,930\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Total Assets<\/b><\/td>\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n105,810\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n104,468\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Liabilities and Shareholders’ Equity<\/b><\/td>\n\n\n\n\n<\/tr>\n
Liabilities:<\/td>\n\n\n\n\n\n<\/tr>\n
Accounts payable and other liabilities<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n2\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n12\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total liabilities<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Shareholders\u2019 equity:<\/td>\n\n\n\n\n<\/tr>\n
\nCommon stock, $0.01 par value, authorized 10,000,000 shares; issued 4,173,675 and outstanding 4,168,414 shares in 2021 and 2020<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n42\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n42\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nTreasury stock at cost, 5,261 shares in 2021 and 2020<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(39\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(39\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\nPaid-in capital<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n61,955\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n61,955\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nRetained earnings<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n43,850\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n42,498\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total shareholders’ equity<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n105,808\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n104,456\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total liabilities and shareholders’ equity<\/b><\/td>\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n105,810\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n104,468\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
INCOME OPPORTUNITY REALTY INVESTORS, INC.<\/b><\/td>\n<\/tr>\n
CONSOLIDATED STATEMENTS OF OPERATIONS <\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\nFor the Three Months Ended March 31, <\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2021<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n(dollars in thousands, except per share amounts)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Revenues: <\/b><\/td>\n\n\n\n<\/tr>\n
\nRevenue from operations<\/td>\n\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Expenses:<\/b><\/td>\n\n\n\n\n\n<\/tr>\n
\n\n

\nGeneral and administrative (including $107 and $72 for the three months\n<\/p>\n

\nended 2021 and 2020, respectively, to related parties)\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n188\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n139\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nNet income fee to related party<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n139\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n86\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nAdvisory fee to related party<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n197\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n189\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nTotal operating expenses<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n524\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n414\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nNet operating loss<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(524\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(414\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Other income (expenses):<\/b><\/td>\n\n\n\n\n\n<\/tr>\n
\nInterest income from related parties<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,218\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,479\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nOther income<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,017\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nTotal other income<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,235\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,479\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nIncome before taxes<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,711\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,065\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nIncome tax expense<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n359\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n224\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nNet income<\/td>\n\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,352\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n841\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nEarnings per share – basic and diluted<\/b><\/td>\n\n\n\n\n\n<\/tr>\n
\nNet income<\/td>\n\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.32\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.20\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nWeighted average common shares used in computing earnings per share<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,168,414\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,168,414\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n\u00a0\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210517005949\/en\/<\/a><\/span><\/p>\n

\nIncome Opportunity Realty Investors, Inc.
\n
Investor Relations
\n
Gene Bertcher (800) 400-6407
\n
investor.relations@incomeopp-realty.com<\/a><\/p>\n

KEYWORDS:<\/b> Texas United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> REIT Other Construction & Property Residential Building & Real Estate Commercial Building & Real Estate Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results DALLAS–(BUSINESS WIRE)– 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 $1,352,000 or $0.32 per share, as compared to net income of $841,000 or $0.20 per share for the same period ended 2020. Our primary business is investing in real estate and mortgage note receivables. Expenses General and administrative expenses were $188 thousand for the three months ended March 31, 2021. This represents an increase of $49 thousand, compared to general and administrative expenses of $139 thousand for … <\/p>\n

Continue reading “Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-494691","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nIncome Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/income-opportunity-realty-investors-inc-reports-first-quarter-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Income Opportunity Realty Investors, Inc. Reports First Quarter 2021 Results DALLAS–(BUSINESS WIRE)– 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 $1,352,000 or $0.32 per share, as compared to net income of $841,000 or $0.20 per share for the same period ended 2020. Our primary business is investing in real estate and mortgage note receivables. Expenses General and administrative expenses were $188 thousand for the three months ended March 31, 2021. This represents an increase of $49 thousand, compared to general and administrative expenses of $139 thousand for … Continue reading "Income Opportunity Realty Investors, Inc. 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