LuxUrban Hotels Inc. (NASDAQ:LUXHP – Get Free Report) was down 0.7% during trading on Friday . The stock traded as low as $15.87 and last traded at $15.98. Approximately 2,258 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 3,316 shares. The stock had previously closed at $16.10.
LuxUrban Hotels Price Performance
The stock’s 50 day simple moving average is $14.93 and its 200-day simple moving average is $17.38.
LuxUrban Hotels Cuts Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.2708 per share. The ex-dividend date is Monday, September 16th. This represents a $3.25 annualized dividend and a yield of 20.34%.
About LuxUrban Hotels
LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.
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