Granahan Investment Management Inc. MA boosted its holdings in Sotherly Hotels Inc. (NASDAQ:SOHO) by 35.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,949 shares of the real estate investment trust’s stock after buying an additional 51,989 shares during the period. Granahan Investment Management Inc. MA owned 1.44% of Sotherly Hotels worth $1,172,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SOHO. Dimensional Fund Advisors LP boosted its stake 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 worth $780,000 after buying an additional 10,173 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Sotherly Hotels by 4.7% in the 1st quarter. Renaissance Technologies LLC now owns 198,900 shares of the real estate investment trust’s stock worth $1,273,000 after buying an additional 8,900 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake 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 worth $200,000 after buying an additional 17,337 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Sotherly Hotels in the 2nd quarter worth about $192,000. Finally, JPMorgan Chase & Co. boosted its stake in 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 worth $482,000 after buying an additional 30,571 shares during the last quarter. 29.39% of the stock is currently owned by hedge funds and other institutional investors.
SOHO has been the topic of several research analyst reports. Zacks Investment Research lowered Sotherly Hotels from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 18th. ValuEngine raised Sotherly Hotels from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 6th.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders 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 6.55%. The ex-dividend date is Thursday, December 14th. Sotherly Hotels’s dividend payout ratio is currently -4,395.60%.
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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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