Foundry Partners LLC decreased its stake in Sotherly Hotels Inc. (NASDAQ:SOHO) by 11.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,500 shares of the real estate investment trust’s stock after selling 25,100 shares during the period. Foundry Partners LLC owned 1.33% of Sotherly Hotels worth $1,053,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SOHO. First Allied Advisory Services Inc. raised its stake in shares of Sotherly Hotels by 11.1% in the second quarter. First Allied Advisory Services Inc. now owns 97,184 shares of the real estate investment trust’s stock valued at $552,000 after buying an additional 9,721 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Sotherly Hotels during the second quarter valued at about $605,000. Boston Partners increased its position in shares of Sotherly Hotels by 1.8% in the second quarter. Boston Partners now owns 220,580 shares of the real estate investment trust’s stock valued at $1,244,000 after buying an additional 3,850 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Sotherly Hotels by 5.2% in the second quarter. Vanguard Group Inc. now owns 497,627 shares of the real estate investment trust’s stock valued at $2,806,000 after buying an additional 24,668 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its position in shares of Sotherly Hotels by 7.3% in the second quarter. Uniplan Investment Counsel Inc. now owns 693,064 shares of the real estate investment trust’s stock valued at $3,909,000 after buying an additional 47,367 shares during the last quarter. Hedge funds and other institutional investors own 27.30% of the company’s stock.
Shares of Sotherly Hotels Inc. (NASDAQ:SOHO) traded up 1.66% during mid-day trading on Friday, hitting $5.50. 16,792 shares of the stock traded hands. The firm’s 50 day moving average price is $0.00 and its 200-day moving average price is $0.00. Sotherly Hotels Inc. has a 12-month low of $4.59 and a 12-month high of $6.70.
Sotherly Hotels (NASDAQ:SOHO) last posted its quarterly earnings results on Tuesday, November 8th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $37.28 million for the quarter, compared to analysts’ expectations of $15.24 million. Sotherly Hotels had a net margin of 0.18% and a return on equity of 0.44%. Equities analysts predict that Sotherly Hotels Inc. will post $1.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 11th. Investors of record on Thursday, December 15th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.38 annualized dividend and a yield of 6.91%.
Several brokerages have issued reports on SOHO. Zacks Investment Research raised shares of Sotherly Hotels from a “sell” rating to a “hold” rating in a research report on Saturday, August 13th. Sandler O’Neill began coverage on shares of Sotherly Hotels in a research report on Wednesday, September 28th. They set a “hold” rating and a $6.00 price objective on the stock. Finally, TheStreet downgraded shares of Sotherly Hotels from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Sotherly Hotels presently has a consensus rating of “Hold” and an average price target of $6.00.
In related news, CEO Andrew Sims purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average cost of $5.00 per share, with a total value of $50,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.90% of the stock is currently owned by corporate insiders.
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.