DESCRIPTION OF BENEFICIAL INTERESTS	9 Months Ended
Oct. 31, 2021
Description Of Beneficial Interests
DESCRIPTION OF BENEFICIAL INTERESTS	10. DESCRIPTION OF BENEFICIAL INTERESTS Holders of the Trust’s Shares of Beneficial Interest are entitled to receive dividends when and if declared by the Board of Trustees of the Trust out of funds legally available. During the 9 months ended October 31, 2021 and 2020, the Trust declared and paid $95,877 and $95,924 of dividends, respectively. The holders of Shares of Beneficial Interest, upon any liquidation, dissolution or winding-down of the Trust, are entitled to share ratably in any assets remaining after payment in full of all liabilities of the Trust. The Shares of Beneficial Interest possess ordinary voting rights, each share entitling the holder thereof to one vote. Holders of Shares of Beneficial Interest do not have cumulative voting rights in the election of Trustees and do not have preemptive rights. For the three months ended October 31, 2021 and 2020, the Trust repurchased 23,775 and 34,680 Shares of Beneficial Interest at an average price of $3.72 and $1.21 per share, respectively. For the nine months ended October 31, 2021 and 2020, the Trust repurchased 23,775 and 233,569 Shares of Beneficial Interest at an average price of $3.72 and $1.06 per share, respectively. The average price paid includes brokerage commissions. Management believes the market price of IHT Stock does not reflect its full potential based on real estate values at current market prices, which exceeds book value, and based on the potential of the UniGen clean energy diversification investment. Accordingly, the Trust intends to continue repurchasing Shares of Beneficial Interest in compliance with applicable legal and NYSE AMERICAN requirements.

DESCRIPTION OF BENEFICIAL INTERESTS

9 Months Ended

Oct. 31, 2021

10. DESCRIPTION OF BENEFICIAL INTERESTS

Holders of the Trust’s Shares of Beneficial Interest are entitled to receive dividends when and if declared by the Board of Trustees of the Trust out of funds legally available. During the 9 months ended October 31, 2021 and 2020, the Trust declared and paid $95,877 and $95,924 of dividends, respectively. The holders of Shares of Beneficial Interest, upon any liquidation, dissolution or winding-down of the Trust, are entitled to share ratably in any assets remaining after payment in full of all liabilities of the Trust. The Shares of Beneficial Interest possess ordinary voting rights, each share entitling the holder thereof to one vote. Holders of Shares of Beneficial Interest do not have cumulative voting rights in the election of Trustees and do not have preemptive rights.

For the three months ended October 31, 2021 and 2020, the Trust repurchased 23,775 and 34,680 Shares of Beneficial Interest at an average price of $3.72 and $1.21 per share, respectively. For the nine months ended October 31, 2021 and 2020, the Trust repurchased 23,775 and 233,569 Shares of Beneficial Interest at an average price of $3.72 and $1.06 per share, respectively. The average price paid includes brokerage commissions. Management believes the market price of IHT Stock does not reflect its full potential based on real estate values at current market prices, which exceeds book value, and based on the potential of the UniGen clean energy diversification investment. Accordingly, the Trust intends to continue repurchasing Shares of Beneficial Interest in compliance with applicable legal and NYSE AMERICAN requirements.