Zacks Investment Research cut shares of Sotherly Hotels (NASDAQ:SOHO) from a buy rating to a hold rating in a research note issued to investors on Friday.
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. “
SOHO has been the topic of a number of other research reports. Sandler O’Neill set a $7.00 target price on Sotherly Hotels and gave the stock a hold rating in a report on Wednesday, February 28th. ValuEngine downgraded Sotherly Hotels from a strong-buy rating to a buy rating in a report on Friday, February 2nd.
Sotherly Hotels (NASDAQ:SOHO) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. Sotherly Hotels had a return on equity of 0.56% and a net margin of 0.27%. The company had revenue of $38.16 million for the quarter, compared to the consensus estimate of $40.00 million. sell-side analysts expect that Sotherly Hotels will post 1.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 15th will be issued a $0.115 dividend. This is an increase 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 annualized dividend and a dividend yield of 7.36%. Sotherly Hotels’s dividend payout ratio (DPR) is -880.00%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new stake in shares of Sotherly Hotels in the 4th quarter worth approximately $126,000. Deutsche Bank AG lifted its holdings in shares of Sotherly Hotels by 27.1% in the 4th quarter. Deutsche Bank AG now owns 92,811 shares of the real estate investment trust’s stock worth $598,000 after purchasing an additional 19,766 shares during the last quarter. Renaissance Technologies LLC lifted its holdings 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 last quarter. Virtu Financial LLC bought a new stake in shares of Sotherly Hotels in the 4th quarter worth approximately $175,000. Finally, Granahan Investment Management Inc. MA lifted its holdings in shares of Sotherly Hotels by 35.4% in 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 purchasing an additional 51,989 shares during the last quarter. 28.84% of the stock is currently 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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