Sotherly Hotels (NASDAQ:SOHO) Stock Passes Below 200 Day Moving Average of $2.00

Shares of Sotherly Hotels Inc. (NASDAQ:SOHO) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.00 and traded as low as $1.83. Sotherly Hotels shares last traded at $1.83, with a volume of 14,017 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of Sotherly Hotels in a research report on Monday, August 28th. They issued a “hold” rating for the company. Piper Sandler boosted their target price on shares of Sotherly Hotels from $2.00 to $2.25 and gave the stock a “neutral” rating in a research report on Friday, August 11th.

Sotherly Hotels Price Performance

The firm has a market capitalization of $35.34 million, a price-to-earnings ratio of 6.10 and a beta of 1.72. The stock’s 50 day moving average price is $2.07 and its two-hundred day moving average price is $2.00. The company has a debt-to-equity ratio of 6.04, a current ratio of 1.31 and a quick ratio of 1.31.

Sotherly Hotels (NASDAQ:SOHO) last released its earnings results on Thursday, August 10th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). The company had revenue of $49.02 million for the quarter, compared to analyst estimates of $50.00 million. Sotherly Hotels had a net margin of 7.89% and a return on equity of 27.16%. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities research analysts anticipate that Sotherly Hotels Inc. will post 0.77 EPS for the current year.

Hedge Funds Weigh In On Sotherly Hotels

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Sotherly Hotels by 13.4% in the 2nd quarter. BlackRock Inc. now owns 43,316 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 5,114 shares in the last quarter. State Street Corp grew its holdings in shares of Sotherly Hotels by 69.3% in the 2nd quarter. State Street Corp now owns 17,948 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 7,345 shares during the last quarter. Morgan Stanley grew its holdings in shares of Sotherly Hotels by 13.3% in the 4th quarter. Morgan Stanley now owns 74,453 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 8,738 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Sotherly Hotels by 41.0% in the 2nd quarter. Citadel Advisors LLC now owns 34,789 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 10,124 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Sotherly Hotels by 26.7% in the 2nd quarter. Renaissance Technologies LLC now owns 61,314 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 12,932 shares during the last quarter. Institutional investors and hedge funds own 26.14% of the company’s stock.

About Sotherly Hotels

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. Sotherly may also opportunistically acquire hotels throughout the United States.