June 8, 2009 (FinancialWire) — The InterGroup Corp.’s (NASDAQ: INTG) (Current Market Cap: US$23.90 Mil.) board has authorized the company to purchase up to an additional 125,000 shares of its common stock under an existing stock repurchase program.

The move increased the total remaining number of shares authorized for repurchase to around 131,000 shares.

Los Angeles-based Intergroup engages in the development, operation, and sale of real estate properties in the United States. The company primarily owns a 544 room hotel property located in San Francisco, California.

As of June 30, 2008, the company’s investment in real estate also consisted of 24 properties, including 18 apartment complexes, two single-family houses, and two commercial real estate properties, as well as owned around 4.1 acres of unimproved real estate in Austin, Texas and two acres of unimproved land in Maui, Hawaii.

InterGroup also invests in income producing instruments, corporate debt and equity securities, mortgage backed securities, and securities issued by REIT’s and other companies.

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