INTERGROUP CORP Files 10-Q for Period Ending 2023-12-31

Ticker: INTG · Form: 10-Q · Filed: Feb 20, 2024

Sentiment: neutral

Topics: 10-Q, INTERGROUP CORP, Real Estate, Apartment Buildings, Financial Reporting

TL;DR

<b>INTERGROUP CORP filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing its financial performance and operational status.</b>

AI Summary

INTERGROUP CORP (INTG) filed a Quarterly Report (10-Q) with the SEC on February 20, 2024. INTERGROUP CORP filed a 10-Q for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30. INTERGROUP CORP is an operator of apartment buildings. The company was formerly known as MUTUAL REAL ESTATE INVESTMENT TRUST.

Why It Matters

For investors and stakeholders tracking INTERGROUP CORP, this filing contains several important signals. This 10-Q filing provides investors with an updated view of INTERGROUP CORP's financial health and operational activities for the second quarter of fiscal year 2024. Understanding the details within this filing is crucial for stakeholders to assess the company's performance in the real estate sector, specifically apartment building operations.

Risk Assessment

Risk Level: low — INTERGROUP CORP shows low risk based on this filing. The filing is a standard 10-Q, indicating routine reporting rather than an event-driven disclosure that might suggest higher risk.

Analyst Insight

Monitor future filings for specific financial performance metrics and operational updates related to INTERGROUP CORP's apartment building portfolio.

Key Numbers

Key Players & Entities

FAQ

When did INTERGROUP CORP file this 10-Q?

INTERGROUP CORP filed this Quarterly Report (10-Q) with the SEC on February 20, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by INTERGROUP CORP (INTG).

Where can I read the original 10-Q filing from INTERGROUP CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by INTERGROUP CORP.

What are the key takeaways from INTERGROUP CORP's 10-Q?

INTERGROUP CORP filed this 10-Q on February 20, 2024. Key takeaways: INTERGROUP CORP filed a 10-Q for the period ending December 31, 2023.. The filing covers the second quarter of fiscal year 2024.. The company's fiscal year ends on June 30..

Is INTERGROUP CORP a risky investment based on this filing?

Based on this 10-Q, INTERGROUP CORP presents a relatively low-risk profile. The filing is a standard 10-Q, indicating routine reporting rather than an event-driven disclosure that might suggest higher risk.

What should investors do after reading INTERGROUP CORP's 10-Q?

Monitor future filings for specific financial performance metrics and operational updates related to INTERGROUP CORP's apartment building portfolio. The overall sentiment from this filing is neutral.

How does INTERGROUP CORP compare to its industry peers?

INTERGROUP CORP operates within the real estate sector, specifically as an operator of apartment buildings.

Are there regulatory concerns for INTERGROUP CORP?

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

Industry Context

INTERGROUP CORP operates within the real estate sector, specifically as an operator of apartment buildings.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

  1. Review the full 10-Q document for detailed financial statements and management discussion.
  2. Analyze segment performance if revenue breakdowns are provided in the full filing.
  3. Compare current quarter results to historical data for trend analysis.

Year-Over-Year Comparison

This is a 10-Q filing for the period ending December 31, 2023, representing a routine quarterly update.

Filing Stats: 4,514 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-02-16 21:37:44

Filing Documents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. Condensed Consolidated Balance Sheets as of December 31, 2023 (Unaudited) and June 30, 2023 3 Condensed Consolidated Statements of Operations for the Three Months ended December 31, 2023 and 2022 (Unaudited) 4 Condensed Consolidated Statements of Operations for the Six Months ended December 31, 2023 and 2022 (Unaudited) 5 Condensed Consolidated Statements of Shareholders' Deficit for the Three and Six Months ended December 31, 2023 and 2022 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months ended December 31, 2023 and 2022 (Unaudited) 7 Notes to the Condensed Consolidated Financial Statements 8-20 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 21-29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 29 Item 4.

Controls and Procedures

Controls and Procedures. 29

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1. Legal Proceedings. 30 Item 1A. Risk Factors. 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 30 Item 3. Defaults Upon Senior Securities. 30 Item 4. Mine Safety Disclosures. 30 Item 5. Other Information. 31 Item 6. Exhibits. 31

Signatures

Signatures 32 - 2 - PART I FINANCIAL INFORMATION Item 1 - Condensed Consolidated Financial Statements THE INTERGROUP CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) June 30, 2023 As of December 31, 2023 (unaudited) June 30, 2023 ASSETS Investment in Hotel, net $ 40,525,000 $ 40,318,000 Investment in real estate, net 48,184,000 48,057,000 Investment in marketable securities 19,363,000 18,345,000 Cash and cash equivalents 9,371,000 5,960,000 Restricted cash 2,936,000 6,914,000 Other assets, net 3,807,000 2,764,000 Total assets $ 124,186,000 $ 122,358,000 LIABILITIES AND SHAREHOLDERS' DEFICIT Liabilities: Accounts payable and other liabilities - Hotel $ 11,885,000 $ 11,616,000 Accounts payable and other liabilities 2,204,000 2,574,000 Due to securities broker 3,177,000 1,601,000 Obligations for securities sold 1,832,000 1,416,000 Other notes payable 2,671,000 2,954,000 Deferred tax liability 4,633,000 4,927,000 Mortgage notes payable - Hotel, net 106,503,000 107,117,000 Mortgage notes payable - real estate, net 88,686,000 84,757,000 Total liabilities 221,591,000 216,962,000 Shareholders' deficit: Preferred stock, $ .01 par value, 100,000 shares authorized; none issued - - Common stock, $ .01 par value, 4,000,000 shares authorized; 3,459,888 and 3,459,888 issued; 2,198,141 and 2,205,927 outstanding, respectively 33,000 33,000 Additional paid-in capital 3,514,000 2,445,000 Accumulated deficit ( 55,608,000 ) ( 52,835,000 ) Treasury stock, at cost, 1,261,747 and 1,253,961 shares as of December 31, 2023 and June 30, 2023, respectively ( 20,975,000 ) ( 20,794,000 ) Total InterGroup shareholders' deficit ( 73,036,000 ) ( 71,151,000 ) Noncontrolling interest ( 24,369,000 ) ( 23,453,000 ) Total shareholders' deficit ( 97,405,000 ) ( 94,604,000 ) Total liabilities and shareholders' deficit $ 124,186,000 $ 122,358,000 The accompany

View on Read The Filing