Sotherly Hotels (NASDAQ:SOHO) Upgraded to Buy by Zacks Investment Research

Sotherly Hotels (NASDAQ:SOHOGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $2.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 6.38% from the stock’s current price.

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, StockNews.com began coverage on Sotherly Hotels in a report on Friday. They set a “hold” rating for the company.

Sotherly Hotels stock traded up $0.02 during midday trading on Tuesday, reaching $1.88. 24,180 shares of the company’s stock were exchanged, compared to its average volume of 57,062. Sotherly Hotels has a 52 week low of $1.60 and a 52 week high of $4.17. The firm has a market cap of $33.14 million, a price-to-earnings ratio of -1.15 and a beta of 1.71. The stock’s 50-day simple moving average is $2.03 and its 200 day simple moving average is $2.19. The company has a debt-to-equity ratio of 22.96, a quick ratio of 0.85 and a current ratio of 0.85.

Sotherly Hotels (NASDAQ:SOHOGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Sotherly Hotels had a negative return on equity of 70.32% and a negative net margin of 13.95%. During the same period in the prior year, the firm posted ($0.33) EPS. Research analysts forecast that Sotherly Hotels will post 0.49 earnings per share for the current year.

Large investors have recently modified their holdings of the company. J.W. Cole Advisors Inc. bought a new stake in shares of Sotherly Hotels in the fourth quarter valued at approximately $59,000. Golden State Equity Partners bought a new stake in shares of Sotherly Hotels in the third quarter valued at approximately $99,000. PSI Advisors LLC bought a new stake in shares of Sotherly Hotels in the third quarter valued at approximately $84,000. Geode Capital Management LLC boosted its stake in shares of Sotherly Hotels by 5.0% in the third quarter. Geode Capital Management LLC now owns 89,564 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 4,274 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Sotherly Hotels by 13.3% in the fourth quarter. Renaissance Technologies LLC now owns 55,509 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 6,495 shares during the period. Institutional investors own 23.47% of the company’s stock.

Sotherly Hotels Company Profile (Get Rating)

Sotherly Hotels Inc is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Currently, the Company's portfolio consists of investments in twelve hotel properties, comprising 3,156 rooms, as well as interests in two condominium hotels and their associated rental programs.

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