InnSuites Hospitality Trust reports hotel operations and diversification updates for a hospitality-focused real estate investment trust listed on NYSE American under the symbol IHT. The Trust owns and operates hotel properties, provides hotel management services through RRF LLLP, and reports activity tied to its Tucson and Albuquerque hotels, including hotel revenue, average daily rate and RevPAR trends.
Recurring news also covers semi-annual dividend declarations, annual meeting and proxy matters, IBC Hotels management and InnDependent Boutique Collection initiatives, and the Trust's diversification investment in UniGen Power clean-energy technology.
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InnSuites Hospitality Trust (NYSE: IHT) announced a semi-annual dividend of $0.01 per share on January 5, 2023, continuing its 53-year history of uninterrupted annual dividends. The payout is scheduled for February 3, 2023, for shareholders on record by January 20, 2023. The company's hotel operations remain profitable, and its investment in efficient clean energy is making progress.
InnSuites Hospitality Trust (IHT) is set to release its quarterly and monthly results soon, indicating positive performance. Trust President James Wirth has acquired 5,000 shares, enhancing his ownership. Additionally, Rare Earth Financial has purchased 43,478 shares at $1.61, bolstering IHT's equity above $4 million. Wirth's entity invested $70,000 in IHT stock, reflecting strong financial support. For over 50 years, IHT has maintained annual dividends, with the next payment scheduled around February 3, 2023.
InnSuites Hospitality Trust (IHT) reported a robust performance in the first three quarters of fiscal 2023, achieving revenues of approximately $5.5 million, a 16% increase from the previous year. Total consolidated net income surged 87% to about $730,000. Earnings per share improved to $0.04 from a loss of $0.05. Additionally, total trust equity rose 36% to approximately $4 million. While hotel operations showed strength, challenges from rising interest rates and recession fears loom. The company maintains a 52-year history of annual dividends and anticipates the next payment on January 31, 2023.