Zacks Investment Research upgraded shares of Sotherly Hotels (NASDAQ:SOHO) from a strong sell rating to a hold rating in a research note published on Wednesday morning.

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. “

SOHO has been the topic of a number of other reports. ValuEngine raised Sotherly Hotels from a buy rating to a strong-buy rating in a research report on Friday, October 6th. TheStreet cut Sotherly Hotels from a c rating to a d+ rating in a research report on Wednesday, August 9th.

Sotherly Hotels (NASDAQ SOHO) remained flat at $$6.76 during mid-day trading on Wednesday. 67,000 shares of the stock traded hands, compared to its average volume of 52,958. Sotherly Hotels has a one year low of $5.57 and a one year high of $7.66. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.78 and a current ratio of 2.78. The stock has a market capitalization of $93.45, a PE ratio of 7.60 and a beta of 0.73.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, December 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.44 dividend on an annualized basis and a yield of 6.51%. Sotherly Hotels’s dividend payout ratio is presently -4,395.60%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Sotherly Hotels by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 660,753 shares of the real estate investment trust’s stock worth $4,480,000 after purchasing an additional 3,963 shares in the last quarter. Uniplan Investment Counsel Inc. lifted its holdings in Sotherly Hotels by 5.8% in the 3rd quarter. Uniplan Investment Counsel Inc. now owns 642,826 shares of the real estate investment trust’s stock worth $3,786,000 after purchasing an additional 35,302 shares in the last quarter. LSV Asset Management lifted its holdings in Sotherly Hotels by 3.8% in the 2nd quarter. LSV Asset Management now owns 253,990 shares of the real estate investment trust’s stock worth $1,722,000 after purchasing an additional 9,300 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Sotherly Hotels by 55.0% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 202,792 shares of the real estate investment trust’s stock worth $1,194,000 after purchasing an additional 71,917 shares in the last quarter. Finally, Granahan Investment Management Inc. MA lifted its holdings in Sotherly Hotels by 35.4% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 198,949 shares of the real estate investment trust’s stock worth $1,172,000 after purchasing an additional 51,989 shares in the last quarter. 29.39% of the stock is currently owned by institutional investors.

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Sotherly Hotels Company Profile

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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