On the last check Monday, InnSuites Hospitality Trust (IHT) fell -0.27% to $7.51 in after-hours trading. InnSuites stock lost -2.33% to close the last session at $7.53. Shares of the IHT were priced between $7.45 and $7.78.
IHT traded 0.22 million shares, which was less than its daily average of 3.17 million shares over the past 100 days. IHT’s shares have gained 7.88% over the past five days, while they have gained 12.72% over the last month. Dividend yield currently stands at 0.27% for the company. After releasing financial results for Q1 2021, IHT stock fell.
IHT: How is it doing?
InnSuites was listed on the New York Stock Exchange in 1971 and has its headquarters in Phoenix, Arizona. IHT is an unincorporated business in Ohio. Under its InnSuites Hotels name, this trust owns and manages hotels. IHT owns and operates hotels, including marketing and reservation services. The company provides hospitality services to hotels. IHT has been innovating and recognizing hotel membership needs under the brand name “InnSuites” for over 40 years.
InnSuites yesterday published its quarterly results for the fiscal first quarter 2022.
- This year’s fiscal first-quarter profit was $157,161, which represents an increase of over $500,000 from the loss of ($352,857) generated in the same period of last year.
- For the 2022 fiscal first quarter ended April 30, 2021, revenues were approximately $1.4 million, relatively flat from approximately $1.4 million for the same prior year period.
- Based on basic earnings per share, the company’s profitability reached ($0.01), compared with ($0.04) a year earlier.
- In addition to the solid start of operations, IHT’s current fiscal year (2021-2022) was able to grow, due in part to the decreased impact of Covid-19.
- The solid results of IHT in Fiscal Q2 of this year have speeded up.
- InnSuites specifically, as well as the Travel Industry and the Economy as a whole, are exhibiting all of these positive signs and are continuing to rebound and recover.
- It was the second consecutive quarter in which the IHT experienced improved economic conditions.
- Compared to Q2 and Q3 of Fiscal Year 2021, both the first quarter of Fiscal Year 2022 and the fourth quarter of Fiscal Year 2021 showed signs of growth, improvements, and strength.
50 Years of dividends at IHT:
Prior to this investment, InnSuites Hospitality Trust (IHT) had made an initial $1 million investment in privately held UniGen Power, Inc. (UniGen), which is developing an innovative clean energy technology with high profit potential. With the fiscal year ending in 2021, IHT’s uninterrupted, continuous dividend payouts extended to over 50 years. IHT’s Board is expected to continue this impressive record of semi-annual dividend payments in July 2021 and January 2022.