Zacks Investment Research upgraded shares of Sotherly Hotels (NASDAQ:SOHO) from a hold rating to a buy rating in a research report released on Wednesday, March 14th. Zacks Investment Research currently has $7.00 price objective 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. “
Several other research firms have also issued reports on SOHO. ValuEngine lowered shares of Sotherly Hotels from a strong-buy rating to a buy rating in a 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 note on Wednesday, February 28th.
Sotherly Hotels (NASDAQ:SOHO) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The firm had revenue of $38.16 million during the quarter, compared to analyst estimates of $40.00 million. Sotherly Hotels had a net margin of 0.27% and a return on equity of 0.53%. equities research analysts forecast that Sotherly Hotels will post 1.04 EPS for the current fiscal 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 paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 7.34%. The ex-dividend date is Wednesday, March 14th. This is an increase from Sotherly Hotels’s previous quarterly dividend of $0.11. Sotherly Hotels’s dividend payout ratio (DPR) is currently -184.00%.
A number of hedge funds have recently bought and sold shares of SOHO. Millennium Management LLC purchased a new position in Sotherly Hotels in the 4th quarter worth about $126,000. Virtu Financial LLC purchased a new position in Sotherly Hotels during the 4th quarter valued at about $175,000. Goldman Sachs Group Inc. increased its position in 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 valued at $284,000 after purchasing an additional 10,580 shares during the period. Deutsche Bank AG increased its position in 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 valued at $598,000 after purchasing an additional 19,766 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in 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 valued at $877,000 after purchasing an additional 7,360 shares during the period. 28.84% of the stock is currently owned by institutional investors.
About Sotherly Hotels
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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