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 (NYSE American: IHT) is a real estate investment trust focused on hotel ownership, hotel operations, and hotel management services, with its shares of beneficial interest traded on the NYSE American. The IHT news stream highlights developments in its hotel portfolio, including reported record or near-record hotel revenues across multiple fiscal periods and performance updates for its Tucson and Albuquerque hotels.
Company news frequently covers financial and operating results, such as hotel revenue levels, consolidated net income before non-cash depreciation and other non-cash expenses, and changes in metrics like Average Daily Rate (ADR) and Revenue Per Available Room (REVPAR). These updates provide insight into how the Trust’s hotel operations are performing over fiscal quarters and fiscal years.
InnSuites also issues news about its diversification activities, particularly its investment in UniGen Power, Inc., a privately held company developing a clean energy generation innovation, and its involvement with InnDependent Boutique Collection (IBC Hotels, LLC). Releases describe the Trust’s holdings of stock, convertible bonds, and warrants in UniGen and outline the management and option arrangements related to IBC Hotels, which RRF LLLP, a 76% owned InnSuites subsidiary, manages.
Additional news items address dividend declarations and corporate governance, including semi-annual dividend announcements that the Trust states continue a multi-decade record of annual dividends, as well as notices of Annual Shareholder Meetings, proxy filings, and shareholder voting outcomes. Investors following IHT news can see how hotel operating trends, diversification investments, and Board decisions are reported over time. For ongoing context on IHT’s operations and strategy, readers may wish to review this news page regularly as new company disclosures are released.
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.
Innsuites Hospitality Trust (IHT) received an extension from NYSE American for filing its Form 10-Q for the periods ending July 31 and October 31, 2020, initially due by February 15, 2021. The delay was attributed to COVID impacting key personnel. IHT has requested a further extension until April 15, 2021, to comply with listing requirements. Additionally, IHT is making progress on its clean energy project with Unigen Power Inc, which is on track for a prototype completion by June 30, 2021. The current notice does not impact the trading of IHT shares.