Laurel Wealth Advisors Inc. lessened its holdings in shares of Sotherly Hotels Inc (NASDAQ:SOHO) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,800 shares of the real estate investment trust’s stock after selling 17,000 shares during the quarter. Laurel Wealth Advisors Inc. owned approximately 0.86% of Sotherly Hotels worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Sotherly Hotels by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 660,753 shares of the real estate investment trust’s stock worth $4,480,000 after acquiring an additional 3,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sotherly Hotels by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 129,301 shares of the real estate investment trust’s stock worth $877,000 after acquiring an additional 7,360 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Sotherly Hotels by 33.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 41,898 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 10,580 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Sotherly Hotels during the 4th quarter worth $126,000. Finally, Deutsche Bank AG boosted its stake in shares of Sotherly Hotels by 27.1% during the 4th quarter. Deutsche Bank AG now owns 92,811 shares of the real estate investment trust’s stock worth $598,000 after acquiring an additional 19,766 shares during the last quarter. Institutional investors and hedge funds own 28.74% of the company’s stock.
SOHO opened at $6.98 on Friday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 2.85 and a current ratio of 2.85. Sotherly Hotels Inc has a fifty-two week low of $5.57 and a fifty-two week high of $7.08. The firm has a market cap of $96.59, a P/E ratio of 6.98 and a beta of 0.63.
Sotherly Hotels (NASDAQ:SOHO) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Sotherly Hotels had a net margin of 0.27% and a return on equity of 0.53%. The company had revenue of $38.16 million for the quarter, compared to analysts’ expectations of $40.00 million. equities analysts expect that Sotherly Hotels Inc will post 1.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 15th will be paid a dividend of $0.115 per share. This is a boost from Sotherly Hotels’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, March 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 6.59%. Sotherly Hotels’s payout ratio is 46.00%.
Several research analysts have recently weighed in on the stock. Sandler O’Neill set a $7.00 price target on shares of Sotherly Hotels and gave the stock a “hold” rating in a research note on Wednesday, February 28th. ValuEngine cut shares of Sotherly Hotels from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of Sotherly Hotels from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, March 14th.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/04/07/laurel-wealth-advisors-inc-lowers-stake-in-sotherly-hotels-inc-soho.html.
Sotherly Hotels Profile
Sotherly Hotels Inc is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Currently, the Company's portfolio consists of investments in eleven hotel properties, comprising 2,838 rooms, and an interest in the Hyde Resort & Residences, a luxury condo hotel.
Receive News & Ratings for Sotherly Hotels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sotherly Hotels and related companies with MarketBeat.com's FREE daily email newsletter.