Income Opportunity Realty Investors (IOR) 8-KResults of Operations and Financial Condition

Income Opportunity Realty Investors, Inc. 8-K

Exhibit 99.1

Income Opportunity Realty Investors, Inc. reports Earnings
for Quarter Ended March 31, 2024

DALLAS (May 9, 2024) -- Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended March 31, 2024. For the three months ended March 31, 2024, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $1.1 million or $0.25 per share for the same period in 2023. Our increase in net income is attributable to a decrease in general, administrative and advisory costs offset in part by a decrease in interest income.

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)