Sotherly Hotels Inc. (SOHO) Downgraded by Zacks Investment Research

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

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. “

SOHO has been the subject of several other research reports. ValuEngine upgraded shares of Sotherly Hotels from a buy rating to a strong-buy rating in a research report on Friday, October 6th. TheStreet lowered shares of Sotherly Hotels from a c rating to a d+ rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $8.00.

Shares of Sotherly Hotels (SOHO) opened at $6.82 on Friday. The firm has a market cap of $93.58, a price-to-earnings ratio of 7.64 and a beta of 0.71. Sotherly Hotels has a twelve month low of $5.29 and a twelve month high of $7.66. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 4.46.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 15th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.44 annualized dividend and a dividend yield of 6.45%. Sotherly Hotels’s dividend payout ratio is currently -4,400.00%.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in Sotherly Hotels in the 2nd quarter valued at about $192,000. Goldman Sachs Group Inc. grew its position in 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 buying an additional 17,337 shares in the last quarter. JPMorgan Chase & Co. grew its position in Sotherly Hotels by 93.2% in the 1st quarter. JPMorgan Chase & Co. now owns 40,485 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 19,531 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 buying an additional 10,173 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in 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 buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 27.25% of the company’s stock.

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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