AP NEWS

Sotherly Hotels: 2Q Earnings Snapshot

August 7, 2018

WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Tuesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Williamsburg, Virginia, said it had funds from operations of $8.4 million, or 55 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 net income of $1.4 million, or 10 cents per share.

The real estate investment trust posted revenue of $51.6 million in the period.

Sotherly Hotels expects full-year funds from operations in the range of $1.04 to $1.08 per share.

The company’s shares have risen 10 percent since the beginning of the year. The stock has increased slightly more than 9 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SOHO at https://www.zacks.com/ap/SOHO

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