Sotherly Hotels Inc. (SOHO) Sees Large Volume Increase
Sotherly Hotels Inc. (NASDAQ:SOHO) shares saw unusually-strong trading volume on Tuesday . Approximately 83,615 shares traded hands during mid-day trading, an increase of 61% from the previous session’s volume of 51,925 shares.The stock last traded at $6.00 and had previously closed at $5.76.
A number of equities analysts have commented on SOHO shares. Zacks Investment Research downgraded Sotherly Hotels from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Janney Montgomery Scott started coverage on Sotherly Hotels in a research note on Monday, May 23rd. They issued a “buy” rating for the company.
The firm has a market cap of $89.25 million and a P/E ratio of 15.43. The firm’s 50 day moving average price is $5.30 and its 200-day moving average price is $5.35.
Sotherly Hotels (NASDAQ:SOHO) last released its earnings results on Tuesday, May 10th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.02. Equities analysts forecast that Sotherly Hotels Inc. will post $1.14 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 6.25%. This is a boost from Sotherly Hotels’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, June 13th.
A hedge fund recently raised its stake in Sotherly Hotels stock. LSV Asset Management boosted its position in Sotherly Hotels Inc. (NASDAQ:SOHO) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,840 shares of the real estate investment trust’s stock after buying an additional 1,900 shares during the period. LSV Asset Management owned about 1.37% of Sotherly Hotels worth $1,224,000 as of its most recent filing with the SEC.
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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