Sotherly Hotels Inc. (SOHO) Position Increased by LSV Asset Management
LSV Asset Management increased its holdings in shares of Sotherly Hotels Inc. (NASDAQ:SOHO) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,990 shares of the real estate investment trust’s stock after acquiring an additional 9,300 shares during the quarter. LSV Asset Management owned approximately 1.84% of Sotherly Hotels worth $1,722,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SOHO. JPMorgan Chase & Co. lifted its holdings in Sotherly Hotels by 75.5% during the second quarter. JPMorgan Chase & Co. now owns 71,056 shares of the real estate investment trust’s stock worth $482,000 after acquiring an additional 30,571 shares during the period. Bank of New York Mellon Corp bought a new stake in Sotherly Hotels during the second quarter worth $192,000. Acadian Asset Management LLC bought a new stake in Sotherly Hotels during the first quarter worth $114,000. Goldman Sachs Group Inc. lifted its holdings in Sotherly Hotels by 124.0% during the first quarter. Goldman Sachs Group Inc. now owns 31,318 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 17,337 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Sotherly Hotels by 9.1% during the first quarter. Dimensional Fund Advisors LP now owns 121,941 shares of the real estate investment trust’s stock worth $780,000 after acquiring an additional 10,173 shares during the period. Institutional investors and hedge funds own 26.49% of the company’s stock.
Shares of Sotherly Hotels Inc. (NASDAQ:SOHO) opened at 5.95 on Friday. Sotherly Hotels Inc. has a one year low of $4.65 and a one year high of $7.66. The company’s 50-day moving average price is $6.10 and its 200-day moving average price is $6.38. The company’s market capitalization is $82.20 million.
Sotherly Hotels (NASDAQ:SOHO) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.39). Sotherly Hotels had a net margin of 1.59% and a return on equity of 3.02%. The business had revenue of $40.64 million for the quarter, compared to analysts’ expectations of $42.50 million. On average, equities research analysts predict that Sotherly Hotels Inc. will post $0.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 7.43%. This is an increase from Sotherly Hotels’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, September 14th. Sotherly Hotels’s dividend payout ratio (DPR) is currently -4,395.60%.
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A number of brokerages recently commented on SOHO. ValuEngine upgraded Sotherly Hotels from a “buy” rating to a “strong-buy” rating in a report on Friday, May 26th. TheStreet lowered Sotherly Hotels from a “c” rating to a “d+” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Sotherly Hotels from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Sotherly Hotels has an average rating of “Hold” and a consensus target price of $7.00.
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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