Sotherly Hotels (SOHO) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Sotherly Hotels (NASDAQ:SOHO) from a hold rating to a buy rating in a research note published on Wednesday, March 14th. They currently have $7.00 price target on the real estate investment trust’s stock.

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. “

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Several other brokerages have also recently weighed in on SOHO. ValuEngine cut shares of Sotherly Hotels from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. Sandler O’Neill set a $7.00 price target on shares of Sotherly Hotels and gave the stock a hold rating in a research report on Wednesday, February 28th.

Sotherly Hotels stock traded up $0.11 during trading hours on Wednesday, hitting $6.98. The company had a trading volume of 62,052 shares, compared to its average volume of 55,891. The stock has a market cap of $98.56, a price-to-earnings ratio of 7.05 and a beta of 0.63. The company has a debt-to-equity ratio of 3.16, a current ratio of 2.85 and a quick ratio of 2.85. Sotherly Hotels has a 1 year low of $5.57 and a 1 year high of $7.08.

Sotherly Hotels (NASDAQ:SOHO) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $38.16 million during the quarter, compared to analysts’ expectations of $40.00 million. Sotherly Hotels had a net margin of 0.27% and a return on equity of 0.53%. research analysts expect that Sotherly Hotels will post 1.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Thursday, March 15th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a boost from Sotherly Hotels’s previous quarterly dividend of $0.11. Sotherly Hotels’s dividend payout ratio is presently 46.00%.

Several institutional investors and hedge funds have recently made changes to their positions in SOHO. Renaissance Technologies LLC lifted its position in shares of Sotherly Hotels by 32.6% in the 4th quarter. Renaissance Technologies LLC now owns 351,900 shares of the real estate investment trust’s stock worth $2,270,000 after purchasing an additional 86,600 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Sotherly Hotels by 55.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 202,792 shares of the real estate investment trust’s stock worth $1,194,000 after acquiring an additional 71,917 shares in the last quarter. Granahan Investment Management Inc. MA raised its stake in shares of Sotherly Hotels by 35.4% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 198,949 shares of the real estate investment trust’s stock worth $1,172,000 after acquiring an additional 51,989 shares in the last quarter. Uniplan Investment Counsel Inc. raised its stake in shares of Sotherly Hotels by 5.8% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 642,826 shares of the real estate investment trust’s stock worth $3,786,000 after acquiring an additional 35,302 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Sotherly Hotels during the 4th quarter worth approximately $175,000. 28.74% of the stock is owned by hedge funds and other institutional investors.

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Sotherly Hotels Company 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.

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