Welcome to our dedicated page for Innsuites Hospitality Trust news (Ticker: IHT), a resource for investors and traders seeking the latest updates and insights on Innsuites Hospitality Trust stock.
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.
InnSuites Hospitality Trust (IHT) announced strong financial performance for the first three fiscal quarters of 2022, with a net income of approximately $390,000, a $2.7 million increase from the same period in 2021. Earnings per share rose to $0.04 from a loss of $0.26. The company's profits also surpassed pre-COVID levels by over $1.3 million in both 2019 and 2020. Additionally, IHT is addressing compliance issues with the NYSE American by submitting a plan to regain compliance, including potential asset sales and investments in clean energy through UniGen Power, aiming for execution by mid-2023.
InnSuites Hospitality Trust (IHT) announced a semi-annual dividend of $0.01 per share, payable on January 31, 2022, to shareholders of record as of January 18, 2022. This marks 52 years of uninterrupted annual dividends. The company's hotel operations are rebounding, and their investment in the UniGen clean energy project is progressing. Shareholders can expect continued commitment to dividend payments in the future.
InnSuites Hospitality Trust (IHT) reported significant improvements in hotel operations for Fiscal Year 2022. Consolidated Net Income reached approximately $390,000, up by over $2.7 million from the same period in 2021, with Earnings Per Share rising from ($0.26) to $0.04. The Trust's revenue for Q3 hit approximately $1.7 million, a 56% increase compared to the prior year. However, a Q3 loss of ($167,572) represents an improvement from the ($767,939) loss in the same quarter last year. IHT also continues to invest in clean energy innovation through UniGen Power.
On November 15, 2021, InnSuites Hospitality Trust (IHT) received a notification from NYSE American regarding non-compliance with listing standards due to stockholders' equity falling below the required $4 million. The Trust must submit a compliance plan by December 15, 2021, to regain compliance by June 15, 2023. Despite these challenges, IHT reported significant profit growth for the second quarter of Fiscal 2022, earning $401,564, compared to a loss of $1,267,385 the previous year. Revenue increased by 81% to approximately $1.7 million, indicating a recovery post-COVID-19.
InnSuites Hospitality Trust (IHT) reported a significant profit increase in Q2 FY2022, reaching $401,564, up from a loss of $1,267,385 in the same period last year. Revenues soared by over 81% to approximately $1.7 million, attributed to the easing of Covid-19 impacts. Year-to-date, IHT achieved a consolidated net income of about $560,000, exceeding FY2021 by over $2.1 million. IHT also invested over $1 million in clean energy firm UniGen, which is set to launch prototypes soon. The trust has maintained over 50 years of uninterrupted dividends.
InnSuites Hospitality Trust (IHT) announced a semi-annual dividend of $0.01 per share, payable on July 30, 2021, for shareholders on record as of July 15, 2021. This marks a continuation of their uninterrupted 51-year history of annual dividends. The company's hotel operations are recovering, and its investment in the UniGen clean energy initiative is progressing.
InnSuites Hospitality Trust (IHT) reported a Fiscal First Quarter profit of $157,161, an increase of over $500,000 from the prior year's loss of ($352,857). Revenues remained steady at approximately $1.4 million. Basic earnings per share improved to ($0.01) from ($0.04) year-over-year. The Trust's strategic focus on diversification includes a $1 million investment in UniGen Power, Inc., with potential ownership of up to 25%. IHT's extended dividend history continues, with approvals expected for July 2021 and January 2022.
InnSuites Hospitality Trust (IHT) reported a significant decline in fiscal year 2021 revenues, totaling approximately $4.203 million compared to $6.568 million in the prior year due to the impact of the Covid-19 pandemic. Basic earnings per share fell to ($0.31) from ($0.21). However, fourth-quarter revenues showed stability compared to the previous quarter. The company is advancing its diversification strategy with a notable investment in UniGen Power, Inc., potentially owning up to 25% of the firm, as development on clean energy prototypes progresses.
InnSuites Hospitality Trust (IHT) reported fiscal 2021 Q3 revenues of approximately $1 million, down from $1.497 million in the same period last year, largely due to the impact of the Covid-19 pandemic. Basic earnings per share for Q3 were ($0.08), an improvement from ($0.14) in Q2 2021. Despite the decline, there are indications of economic recovery in Q3, with revenues increasing by $30,000 from Q2 2021. IHT also holds a significant stake in UniGen Power, Inc. and remains compliant with NYSE-American and SEC filing requirements.
InnSuites Hospitality Trust (IHT) reported fiscal 2021 Q2 revenues of approximately $1 million, down from $1.54 million year-over-year, affected by the Covid-19 pandemic. Basic earnings per share were ($0.14), compared to ($0.05) in Q2 2020. The company has a $1 million bond investment in UniGen Power, Inc., potentially leading to a 25% ownership stake. CEO James Wirth expressed confidence in UniGen's progress despite pandemic challenges. IHT's stock is perceived to be undervalued due to a tight float and current low book values compared to market potential.