InterGroup Corp Files Q2 2025 10-Q
Ticker: INTG · Form: 10-Q · Filed: Nov 13, 2024
Sentiment: neutral
Topics: real-estate, 10-q, quarterly-filing
TL;DR
**INTERGROUP CORP (INTG) files Q2 2025 10-Q. Real estate operator.**
AI Summary
InterGroup Corp filed a 10-Q for the period ending September 30, 2024. The company, formerly known as Mutual Real Estate Investment Trust, operates in the real estate sector, specifically as operators of apartment buildings. Their principal business address is 11620 Wilshire Boulevard, Suite 350, Los Angeles, CA 90025.
Why It Matters
This filing provides investors with an update on InterGroup Corp's financial performance and operational status for the second quarter of fiscal year 2025, crucial for understanding the company's real estate business.
Risk Assessment
Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented.
Key Numbers
- 20240930 — Period End Date (The filing covers financial data up to this date.)
- 20241113 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 0630 — Fiscal Year End (Indicates the company's annual reporting cycle.)
Key Players & Entities
- INTERGROUP CORP (company) — Filer of the 10-Q
- MUTUAL REAL ESTATE INVESTMENT TRUST (company) — Former name of InterGroup Corp
- 11620 WILSHIRE BOULEVARD, SUITE 350, LOS ANGELES, CA 90025 (location) — Business and mailing address
- 0000069422 (company) — Central Index Key for InterGroup Corp
FAQ
What is InterGroup Corp's primary business activity?
InterGroup Corp is primarily engaged as an operator of apartment buildings, as indicated by its SIC code [6513].
When was InterGroup Corp formerly known as?
InterGroup Corp was formerly known as MUTUAL REAL ESTATE INVESTMENT TRUST, with a name change occurring on April 8, 1986.
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 13, 2024.
What is the reporting period for this 10-Q filing?
The conforming period of report for this 10-Q filing is September 30, 2024.
Where is InterGroup Corp located?
InterGroup Corp's business and mailing address is 11620 Wilshire Boulevard, Suite 350, Los Angeles, CA 90025.
Filing Stats: 4,514 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2024-11-13 14:00:36
Filing Documents
- form10-q.htm (10-Q) — 767KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 9KB
- ex32-2.htm (EX-32.2) — 9KB
- 0001493152-24-045051.txt ( ) — 4817KB
- intg-20240930.xsd (EX-101.SCH) — 43KB
- intg-20240930_cal.xml (EX-101.CAL) — 60KB
- intg-20240930_def.xml (EX-101.DEF) — 164KB
- intg-20240930_lab.xml (EX-101.LAB) — 330KB
- intg-20240930_pre.xml (EX-101.PRE) — 257KB
- form10-q_htm.xml (XML) — 682KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements. Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and June 30, 2024 3 Condensed Consolidated Statements of Operations for the Three Months ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Shareholders' Deficit for the Three Months ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months ended September 30, 2024 and 2023 (Unaudited) 6 Notes to the Condensed Consolidated Financial Statements (Unaudited) 7-17 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. 18-24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk. 24 Item 4.
Controls and Procedures
Controls and Procedures. 24
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1. Legal Proceedings. 25 Item 1A. Risk Factors. 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 25 Item 3. Defaults Upon Senior Securities. 25 Item 4. Mine Safety Disclosures. 25 Item 5. Other Information. 25 Item 6. Exhibits. 25
Signatures
Signatures 26 -2- PART I FINANCIAL INFORMATION Item 1 - Condensed Consolidated Financial Statements THE INTERGROUP CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2024 (unaudited) June 30, 2024 ASSETS Investment in Hotel, net $ 40,241,000 $ 40,901,000 Investment in real estate, net 47,274,000 47,542,000 Investment in marketable securities 7,609,000 7,454,000 Cash and cash equivalents 5,592,000 4,333,000 Restricted cash 4,626,000 4,361,000 Other assets, net 3,985,000 3,220,000 Total assets $ 109,327,000 $ 107,811,000 LIABILITIES AND SHAREHOLDERS' DEFICIT Liabilities: Accounts payable and other liabilities - Hotel $ 16,061,000 $ 13,757,000 Accounts payable and other liabilities 4,219,000 4,265,000 Obligations for securities sold 961,000 188,000 Other notes payable 2,404,000 2,388,000 Deferred tax liability 4,724,000 4,724,000 Mortgage notes payable - Hotel, net 100,546,000 100,783,000 Mortgage notes payable - real estate, net 87,891,000 88,173,000 Total liabilities 216,806,000 214,278,000 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; 2,167,653 and 2,178,955 outstanding, respectively 38,000 38,000 Additional paid-in capital 3,693,000 3,648,000 Accumulated deficit ( 63,030,000 ) ( 62,632,000 ) Treasury stock, at cost, 1,292,235 and 1,280,933 shares, respectively ( 21,598,000 ) ( 21,393,000 ) Total InterGroup shareholders' deficit ( 80,897,000 ) ( 80,339,000 ) Noncontrolling interest ( 26,582,000 ) ( 26,128,000 ) Total shareholders' deficit ( 107,479,000 ) ( 106,467,000 ) Total liabilities and shareholders' deficit $ 109,327,000 $ 107,811,000 The accompanying notes are an integral part of these (unaudited) condensed consolidated financial statements. -3- THE INTERGROUP CORPORATI