Income Opportunity Realty Investors Inc Dossier
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SectorFinancials IndustryMortgage REITS Beta (adjusted)0.31 Intrinsic Value $15.12median of 1 methodbased on filings through 30 Jun 2026 Market Price $17.60Price as of 1 Oct 2026 Near fair valueIntrinsic value is 14% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $71.6M Enterprise Value $71.5M Shares Outstanding 4.1M diluted Next Earnings Date6 Nov 2026 Last ex-dividend15 Sep 2000 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Income Opportunity Realty Investors, Inc. (IOR) operates as an externally managed real estate investment company primarily holding a portfolio of notes receivable collateralized by land and multifamily properties. The company is heavily controlled by Transcontinental Realty Investors, Inc. (TCI), which owns over 84% of its outstanding shares (and over 91% with affiliates). IOR has no direct employees and relies entirely on Pillar Income Asset Management, Inc. for its operations. While the company maintains a clean balance sheet with virtually no debt and a high book value per share relative to its stock price, its revenue and net income are almost entirely dependent on interest income from related parties. This creates significant governance and concentration risks, making it a Hold for investors seeking stable but highly concentrated asset-backed returns, with limited upside due to the lack of independent operations and low trading liquidity. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 19 Jun 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $12.00 A default or financial distress at Unified Housing Foundation, Inc. or other related party borrowers, leading to a material impairment of the notes receivable. Alternatively, a further decline in interest rates could compress interest income and reduce net profitability. Base CaseCentral scenario $18.00 The company continues to collect interest income on its notes receivable from related parties, maintaining stable quarterly net income of approximately $1.0 million. TCI maintains its controlling stake without executing a full squeeze-out merger, and the stock continues to trade in a tight range around $17.50 to $18.50, supported by its high book value per share of over $31.00. Bull CaseUpside scenario $25.00 TCI or another affiliate proposes a full squeeze-out merger of the remaining minority shares at a significant premium closer to the company's book value per share (which exceeds $30.00), providing immediate upside to minority shareholders. Scenarios reflect our research view at the research date. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |