Sotherly Hotels Inc. (SOHO) Announces Quarterly Earnings Results
Sotherly Hotels Inc. (NASDAQ:SOHO) issued its earnings results on Tuesday. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.39, MarketWatch Earnings reports. Sotherly Hotels had a return on equity of 4.16% and a net margin of 2.02%.
Sotherly Hotels (NASDAQ:SOHO) opened at 6.34 on Wednesday. Sotherly Hotels has a one year low of $4.65 and a one year high of $7.66. The stock has a market capitalization of $87.48 million, a PE ratio of 81.28 and a beta of 0.77. The firm has a 50-day moving average of $6.59 and a 200 day moving average of $6.62.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Friday, September 15th will be issued a $0.11 dividend. The ex-dividend date is Thursday, September 14th. This is a boost from Sotherly Hotels’s previous quarterly dividend of $0.11. This represents a $0.44 annualized dividend and a yield of 6.94%. Sotherly Hotels’s payout ratio is 466.72%.
A number of hedge funds have recently added to or reduced their stakes in SOHO. Acadian Asset Management LLC bought a new stake in Sotherly Hotels during the first quarter worth approximately $114,000. Stifel Financial Corp boosted its stake in Sotherly Hotels by 2.5% in the first quarter. Stifel Financial Corp now owns 20,600 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 500 shares during the period. Bank of New York Mellon Corp bought a new stake in Sotherly Hotels during the second quarter worth approximately $192,000. Goldman Sachs Group Inc. boosted its stake in Sotherly Hotels by 124.0% in the first quarter. Goldman Sachs Group Inc. now owns 31,318 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 17,337 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Sotherly Hotels by 93.2% in the first quarter. JPMorgan Chase & Co. now owns 40,485 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 19,531 shares during the period. Institutional investors own 27.31% of the company’s stock.
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Several research analysts have issued reports on SOHO shares. ValuEngine raised shares of Sotherly Hotels from a “buy” rating to a “strong-buy” rating in a report on Friday, May 26th. Zacks Investment Research raised shares of Sotherly Hotels from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, TheStreet raised shares of Sotherly Hotels from a “d+” rating to a “c” rating in a report on Wednesday, May 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Sotherly Hotels has a consensus rating of “Hold” and a consensus price target of $7.00.
Sotherly Hotels Company Profile
Sotherly Hotels Inc is a self-managed and self-administered lodging real estate investment trust. The Company is focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the southern United States. The Company operates through the hotel ownership segment.
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