Sotherly Hotels (SOHO) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sotherly Hotels (NASDAQ:SOHO) from a strong sell rating to a hold rating in a research report released on Thursday.

According to Zacks, “SoTHERLY Hotels Inc. is a real estate investment trust. It is focused on the acquisition, renovation and upbranding and repositioning of upscale to upper upscale full-service hotels primarily in the Mid-Atlantic and Southern United States. The Company’s properties operate under the Hilton Worldwide, InterContinental Hotels Group and Starwood Hotels and Resorts brands. SoTHERLY Hotels Inc., formerly known as MHI Hospitality Corporation, is headquartered in Williamsburg, Virginia. “

Separately, ValuEngine lowered Sotherly Hotels from a strong-buy rating to a buy rating in a research report on Friday, February 2nd.

Sotherly Hotels (NASDAQ:SOHO) opened at $6.19 on Thursday. Sotherly Hotels has a 52-week low of $5.57 and a 52-week high of $7.66. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a market capitalization of $85.56, a P/E ratio of -618.38 and a beta of 0.71.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Thursday, March 15th will be issued a $0.115 dividend. This is a positive change from Sotherly Hotels’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 7.43%. Sotherly Hotels’s dividend payout ratio (DPR) is presently -4,395.60%.

Several institutional investors have recently bought and sold shares of SOHO. Bank of New York Mellon Corp bought a new stake in shares of Sotherly Hotels in the 2nd quarter worth $192,000. JPMorgan Chase & Co. increased its holdings in shares of Sotherly Hotels by 75.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 71,056 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 30,571 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Sotherly Hotels by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 660,753 shares of the real estate investment trust’s stock worth $4,480,000 after purchasing an additional 3,963 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sotherly Hotels by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 129,301 shares of the real estate investment trust’s stock worth $877,000 after purchasing an additional 7,360 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Sotherly Hotels by 33.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 41,898 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 10,580 shares in the last quarter. 29.43% of the stock is owned by institutional investors and hedge funds.

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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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