Eye-Catching Stock: Sotherly Hotels Inc. (NASDAQ: SOHO)

WILLIAMSBURG, Va., October 21, 2019 – Shares of Sotherly Hotels Inc. (NASDAQ: SOHO) gained 0.15% to $6.67. The stock traded total volume of 20.282K shares lower than the average volume of 28.20K shares.

For the three-month period ending March 31, 2019, Sotherly Hotels Inc. (SOHO) reported that it had funds from operations of $4.80M, or 31 cents per share, in the period. Funds from operations are a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $1.70M, or 12 cents per share. The real estate investment trust posted revenue of $47.40M in the period.

Balance Sheet/Liquidity:

At March 31, 2019, the Company had approximately $33.40M of available cash and cash equivalents, of which approximately $4.40M was reserved for real estate taxes, insurance, capital improvements and certain other expenses or otherwise restricted. The Company had principal balances of approximately $366.30M in outstanding debt at a weighted average interest rate of approximately 5.13%.

Subsequent to the balance sheet date, on April 18, 2019, the Company closed a sale and issuance of 1.080M shares of its 8.25% Series D cumulative redeemable perpetual preferred stock (the “Series D Preferred Stock”), for total gross proceeds of $27.00M before underwriting discounts and commissions and expenses payable by the Company.  On May 1, 2019, the Company closed a sale and issuance of additional 120.0K shares of its Series D Preferred Stock, for gross proceeds of $3.00M, in connection with the partial exercise of the underwriters’ option to purchase additional shares.  We intend to use the net proceeds to redeem in full the Operating Partnership’s 7.25% Senior Unsecured Notes due 2021 (the “7.25% Notes”) and to use any remaining net proceeds for general corporate purposes, including potential future acquisitions of hotel properties.

SOHO has the market capitalization of $94.71M and its EPS growth ratio for the past five years was -4.30%. The return on assets ratio of the Company was -1.90% while its return on investment ratio stands at 4.20%. Price to sales ratio was 0.52 while 39.50% of the stock was owned by institutional investors.

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