InnSuites Hospitality Trust (IHT), an unincorporated business based in Ohio, has seen a decline of 7.62% in the aftermarket trading session. As a result, IHT stock is changing hands at $4.73 at the time of this writing. The decline has come after the stock rose a tremendous 45.87% in the mid-day session on Thursday. Hence, the decline seems to be due to the profit-taking factor. Let’s discuss recent developments related to IHT stock.
IHT announced semi-annual dividends
On 29th June, IHT announced a semi-annual dividend of $0.01 per share. The dividend was payable on the 30th of July to shareholders of record as of the 15th of July 2021. By paying dividends, the company was maintaining a 51-years history of paying annual dividends. The company further said that its operations would continue to recover as Unigen diversified efficient clean energy investment continues to progress.
Q1 2022 financial results
On 28th June, the company reported the quarterly results for the first quarter of the fiscal year 2022, which ended on 30th April 2021. According to the details, the company had total cash and cash equivalents of $1.55 million on 30th April. The total assets in possession of the company on the 30th of April were $15.09 million. The total liabilities the company had on the 30th of April stood at $12.33 million. The company generated total revenue of $1.39 million during the quarter. The total revenue stood at $1.44 million in the equivalent period of the previous fiscal year. The total operating expenses during the quarter stood at $1.6 million. During the equivalent period of the previous fiscal year, the total operating expenses were $1.72 million. The operating loss bore by the company during the quarter was $0.2 million. During the equivalent period of 2020, the operating loss stood at $0.28 million. The consolidated net income generated by the company during the quarter was $0.15 million. During the comparative period of the previous fiscal, the consolidated net loss bore by the company was $0.35 million. The net loss per basic and diluted share during the quarter stood at $0.01. On the contrary, the net loss per basic and diluted share during the comparative period of the previous year was $0.04.
What’s ahead for IHT stock?
The recent past performance of IHT stock has been outstanding. The stock has risen by almost 42% during the last week. In the previous half year, it increased by 113% and has increased a massive 380% during the last 12 months. The 52-week high of IHT is $14.77 while the 52-week low remains at $1.05. The short terms trade could be paying benefits to buyers, while as evident from stats, the long-term investment in IHT stock is also potentially beneficial. Hence, investors should keep a close eye on IHT stock performance.
