SOTHERLY HOTELS/SH SH (NASDAQ:SOHO) posted its quarterly earnings results on Tuesday. The real estate investment trust reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.24), MarketWatch Earnings reports. The company had revenue of $41.42 million for the quarter, compared to analysts’ expectations of $39.40 million. SOTHERLY HOTELS/SH SH had a return on equity of 0.78% and a net margin of 0.41%. SOTHERLY HOTELS/SH SH updated its FY 2018 guidance to $1.01-1.05 EPS.
NASDAQ:SOHO traded up $0.06 during trading hours on Wednesday, reaching $6.86. 64,700 shares of the company were exchanged, compared to its average volume of 40,402. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 4.11. The company has a market cap of $98.14 million, a P/E ratio of 6.86 and a beta of 0.64. SOTHERLY HOTELS/SH SH has a 52-week low of $5.90 and a 52-week high of $7.62.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend is Thursday, December 13th. SOTHERLY HOTELS/SH SH’s dividend payout ratio is currently 50.00%.
A number of research firms have weighed in on SOHO. ValuEngine downgraded shares of SOTHERLY HOTELS/SH SH from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of SOTHERLY HOTELS/SH SH from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research note on Wednesday, October 24th.
A number of large investors have recently bought and sold shares of the business. LSV Asset Management raised its stake in SOTHERLY HOTELS/SH SH by 13.4% during the third quarter. LSV Asset Management now owns 287,916 shares of the real estate investment trust’s stock worth $2,072,000 after purchasing an additional 33,926 shares during the period. Cottage Street Advisors LLC raised its stake in SOTHERLY HOTELS/SH SH by 46.0% during the third quarter. Cottage Street Advisors LLC now owns 291,800 shares of the real estate investment trust’s stock worth $2,101,000 after purchasing an additional 92,000 shares during the period. Granahan Investment Management Inc. MA raised its stake in shares of SOTHERLY HOTELS/SH SH by 17.2% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 169,137 shares of the real estate investment trust’s stock valued at $1,181,000 after acquiring an additional 24,848 shares during the period. Renaissance Technologies LLC raised its stake in shares of SOTHERLY HOTELS/SH SH by 49.2% in the 2nd quarter. Renaissance Technologies LLC now owns 470,529 shares of the real estate investment trust’s stock valued at $3,284,000 after acquiring an additional 155,129 shares during the period. Finally, BlackRock Inc. raised its stake in shares of SOTHERLY HOTELS/SH SH by 7.2% in the 2nd quarter. BlackRock Inc. now owns 575,241 shares of the real estate investment trust’s stock valued at $4,015,000 after acquiring an additional 38,536 shares during the period. 30.36% of the stock is currently owned by institutional investors.
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About SOTHERLY HOTELS/SH SH
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 twelve hotel properties, comprising 3,156 rooms, and an interest in the Hyde Resort & Residences, a luxury condo hotel.
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