InnSuites Hospitality Trust (IHT) is up 2.33% in the current-market trading session at the price of $3.95 despite any recent news.
IHT Reported 51st Consecutive Annual Dividend
On 23rd June 2021, the Board of Trustees of InnSuites Hospitality Trust (IHT) announced a semiannual dividend of $0.01 per share. The semiannual dividend, payable on 30th July 2021 to shareholders, continued an uninterrupted 51-year annual dividend history. InnSuites Hotel operations continue to recover while UniGen continues to progress efficient and clean energy investment.
Fiscal First Quarter Financial Results
On 28th June 2021, IHT reported revenues of roughly $1.4 million for the 2022 fiscal first quarter ended 30th April 2021. It remained relatively flat from revenues of approximately $1.4 million for the same period of the previous year. Basic earnings per share were $0.01 for the fiscal first quarter ended 30th April 2021. Basic earnings per share were $0.04 for the same quarter prior year. This increase was attributable to the solid start of the Trust’s operations along with the reduced impact of Covid-19. These results have accelerated in the fiscal second quarter of the current year.
IHL reported a fiscal first-quarter profit of 157,161 dollars. It indicates an increase of $500,000 from the same period of the prior year. Consolidated net income has increased more than $500,000 in fiscal first-quarter 2022 compared to fiscal first quarter 2021. It is more than $425,000 over fiscal first quarter 2020 and approximately $450,000 greater than fiscal first quarter 2019.
CEO James Wirth commented that they continue to execute their strategic plan of selling existing hotel real estate. The sale will be at a market price significantly above their low carrying values. They are moving toward IHT’s high potential diversification investment in efficient and clean-energy power generation, he added.
Fiscal Year 2021 Earnings Report
On 17th May 2021, IHT reported revenues of approximately $4.203 million for the fiscal year ended 31st January 2021. Revenues of $6.568 million were reported, for the same quarter the prior year. Basic earnings per share were $0.31 for the fiscal year ended 31st January 2021. For the fiscal year ended 31st January 2020, basic earnings per share were $0.21. This decline resulted from the adverse impact of the Covid-19 virus pandemic. Fiscal 2021 fourth-quarter revenues remained approximately flat for the three months ended 31st January 2021, compared to revenues for the third quarter of the fiscal year 2021.
