Sotherly Hotels (SOHO) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Sotherly Hotels (NASDAQ:SOHO) from a hold rating to a strong sell rating in a research note published on Thursday.

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. “

Separately, ValuEngine raised Sotherly Hotels from a buy rating to a strong-buy rating in a research note on Friday, October 6th.

Shares of Sotherly Hotels (NASDAQ SOHO) traded down $0.03 during trading on Thursday, reaching $6.49. The company had a trading volume of 64,563 shares, compared to its average volume of 52,814. The firm has a market cap of $89.85, a P/E ratio of 7.55 and a beta of 0.73. Sotherly Hotels has a twelve month low of $5.57 and a twelve month high of $7.66. The company has a debt-to-equity ratio of 4.46, a current ratio of 2.78 and a quick ratio of 2.78.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 6.78%. The ex-dividend date is Thursday, December 14th. Sotherly Hotels’s dividend payout ratio is -4,400.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of Sotherly Hotels in the 2nd quarter valued at about $192,000. Goldman Sachs Group Inc. grew its holdings in shares of Sotherly Hotels by 124.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,318 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 17,337 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sotherly Hotels by 75.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 71,056 shares of the real estate investment trust’s stock valued at $482,000 after acquiring an additional 30,571 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sotherly Hotels by 9.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 121,941 shares of the real estate investment trust’s stock valued at $780,000 after acquiring an additional 10,173 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Sotherly Hotels by 18.0% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 130,875 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 20,000 shares in the last quarter. 29.39% of the stock is currently owned by hedge funds and other institutional investors.

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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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