Sotherly Hotels (NASDAQ:SOHOB) Trading 0.5% Higher – Here’s Why

Sotherly Hotels Inc. (NASDAQ:SOHOB)’s stock price rose 0.5% on Wednesday . The stock traded as high as $18.42 and last traded at $18.40. Approximately 23,692 shares traded hands during trading, an increase of 57% from the average daily volume of 15,094 shares. The stock had previously closed at $18.31.

Sotherly Hotels Stock Up 0.5%

The business has a fifty day moving average price of $17.50 and a two-hundred day moving average price of $15.14.

About Sotherly Hotels

Sotherly Hotels, Inc is a publicly traded real estate investment trust (REIT) that invests in and owns a diversified portfolio of hospitality properties throughout the United States. Through its subsidiaries, the company holds interests in full-service and select-service hotels operating under major brand franchises, including Marriott, Hilton, Hyatt and IHG. Its core business activities encompass acquisition, financing, management and disposition of lodging assets, with a focus on generating stable income through long-term lease and management agreements.

Since its formation in early 2019, Sotherly Hotels has pursued a strategy of portfolio expansion and diversification by acquiring properties in key leisure and urban markets.