StockNews.com Initiates Coverage on InnSuites Hospitality Trust (NYSE:IHT)

StockNews.com assumed coverage on shares of InnSuites Hospitality Trust (NYSE:IHT) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the stock.

InnSuites Hospitality Trust Stock Performance

Shares of InnSuites Hospitality Trust stock opened at $1.60 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 3.49. The stock has a fifty day simple moving average of $1.64 and a 200 day simple moving average of $1.48. InnSuites Hospitality Trust has a 12-month low of $0.95 and a 12-month high of $2.33. The company has a market capitalization of $14.43 million, a P/E ratio of -80.00 and a beta of 0.11.

InnSuites Hospitality Trust Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 19th will be given a dividend of $0.01 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, July 19th. InnSuites Hospitality Trust’s payout ratio is currently -100.00%.

Insiders Place Their Bets

In other news, CEO James F. Wirth acquired 200 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $264.04 per share, for a total transaction of $52,808.00. Following the purchase, the chief executive officer now owns 6,252,196 shares in the company, valued at approximately $1,650,829,831.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other InnSuites Hospitality Trust news, CEO James F. Wirth bought 300 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $388.50 per share, for a total transaction of $116,550.00. Following the purchase, the chief executive officer now directly owns 6,252,496 shares of the company’s stock, valued at approximately $2,429,094,696. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James F. Wirth purchased 200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of $264.04 per share, for a total transaction of $52,808.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,252,196 shares in the company, valued at approximately $1,650,829,831.84. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,200 shares of company stock valued at $501,185. Corporate insiders own 73.93% of the company’s stock.

InnSuites Hospitality Trust Company Profile

InnSuites Hospitality Trust (NYSE American symbol: IHT) first listed on the NYSE in 1971 is headquartered in Phoenix, Arizona is an unincorporated Ohio Business. Trust that owns and manages hotels under the InnSuites Hotels name. IHT qualifies as a Real Estate Investment Trust (REIT) for tax treatment currently taxed as a corporation with the IRS.