DALLAS--(BUSINESS WIRE)--Income Opportunity Realty Investors, Inc. (IOT) today recognized an over 194% increase in stock value over the period of eighteen months. TCI’s common stock had a quoted value per share of approximately $5.40 as of January 30, 2014.
“As we look back on our strategic commitment to fortify our portfolio we are pleased to see solid results. This is evidenced by both our residential and commercial occupancy levels running higher than last year, and significantly higher over the previous several years,” stated CEO and President Daniel J. Moos. “We’re also starting to see new development opportunities, providing us with enhanced ability to sell various land assets; which is of particular importance to IOT. We will continue to adapt to the improved results in the Texas and surrounding regions’ real estate market and are cautiously optimistic about the future as the market continues to improve.”
With over 40 years in the real estate industry, Gene Phillips, advisory source to Pillar Income Asset Management, Inc., notes that the changes in the current market are in keeping with his experience through previous recessions. “The U.S. residential real estate market grew steadily in 2013, and I foresee steady growth in commercial real estate in 2014. It’s commonly known that the U.S. economy recovers on the back of the real estate industry. In particular, a low tax environment and low cost of living enhance Texas recovery even further as major investors and corporations look to our state and neighboring states for relocation and development opportunities.”
Beginning in 1985, Income Opportunity Realty Investors, Inc. (NYSE MKT: IOT) has been committed to creating greater shareholder value through the acquisition, financing, operation and sale of real estate across the United States. Income Opportunity's business is investing in equity interests in real estate through direct equity investments and partnerships, and financing real estate and real estate-related activities through investments in mortgage loans. All of our real estate is located in the southwest region of the continental United States.
Pillar Income Asset Management, Inc. (www.pillarincome.com) is a Dallas-based real estate management company, which develops and manages in excess of $2.5 billion of real estate for public and private real estate entities. Affiliated companies under management or advisement by Pillar include American Realty Investors, Inc. (NYSE: ARL); Transcontinental Realty Investors, Inc. (NYSE: TCI); Income Opportunity Realty Investors, Inc. (NYSE MKT: IOT); and Regis Property Management, LLC (www.regisinc.com).