In This Story
Income Opportunity Realty Investors Inc. (IOR-1.36%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Income Opportunity Realty Investors Inc. is an externally managed company investing in mortgage notes receivables and real property. The company is managed by Pillar Income Asset Management, Inc., which is a related party.
The filing indicates that Transcontinental Realty Investors, Inc. is the controlling shareholder of the company, owning 83.2% of the stock as of December 31, 2024. The financial results of Income Opportunity Realty Investors Inc. are included in the consolidated financial statements of Transcontinental Realty Investors, Inc.
For the year ended December 31, 2024, the company reported a net income of $4.7 million, a decrease from $7.0 million in the previous year. The decrease in net income is primarily attributed to a $3.8 million decrease in interest income due to lower interest rates.
The company has no employees, and all services are rendered by employees of Pillar under an Advisory Agreement. The company pays Pillar an advisory fee based on a percentage of gross asset value and net income.
The filing details that the company has significant transactions with related parties, including a note receivable from Unified Housing Foundation, Inc., which is considered a related party. The note receivable had a balance of $11.1 million as of December 31, 2024.
The company’s common stock is listed on the NYSE American Exchange under the symbol 'IOR'. As of March 19, 2025, there were 4,066,178 shares of common stock outstanding.
The filing mentions that the company has a stock repurchase program allowing for the repurchase of up to 1,650,000 shares of its common stock. During 2024, the company repurchased 44,536 shares.
The company does not anticipate paying dividends on common stock in the near future. The board of directors determines dividend declarations on an annual basis.
The filing also discusses the company’s cybersecurity risk management processes and states that the Audit Committee of the Board of Directors oversees cybersecurity matters.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Income Opportunity Realty Investors Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.