Sotherly Hotels: 3Q Earnings Snapshot
WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Tuesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Williamsburg, Virginia, said it had funds from operations of $4.3 million, or 28 cents per share, in the period.
Funds from operations is 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 $107,000, or 1 cent per share.
The real estate investment trust posted revenue of $42.6 million in the period.
Sotherly Hotels expects full-year funds from operations in the range of $1.14 to $1.17 per share, with revenue in the range of $184.3 million to $185.8 million.
The company’s shares have climbed 14% since the beginning of the year. The stock has decreased 4% in the last 12 months.