SOTHERLY HOTELS/SH SH (NASDAQ:SOHO) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 98,200 shares, a drop of 5.8% from the September 30th total of 104,300 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,500 shares, the short-interest ratio is currently 3.3 days.
Separately, Zacks Investment Research cut shares of SOTHERLY HOTELS/SH SH from a “hold” rating to a “sell” rating in a research note on Friday.
SOHO stock opened at $6.66 on Tuesday. SOTHERLY HOTELS/SH SH has a 12 month low of $5.43 and a 12 month high of $7.69. The company has a current ratio of 1.71, a quick ratio of 2.27 and a debt-to-equity ratio of 3.37. The company has a 50-day moving average price of $6.54 and a 200 day moving average price of $6.88. The stock has a market cap of $94.48 million, a PE ratio of 6.40 and a beta of 0.72.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 7.81%. SOTHERLY HOTELS/SH SH’s dividend payout ratio is presently 50.00%.
In other SOTHERLY HOTELS/SH SH news, CEO Andrew Sims sold 17,751 shares of SOTHERLY HOTELS/SH SH stock in a transaction on Friday, September 20th. The shares were sold at an average price of $6.76, for a total value of $119,996.76. Following the completion of the transaction, the chief executive officer now directly owns 344,879 shares of the company’s stock, valued at approximately $2,331,382.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of SOTHERLY HOTELS/SH SH by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 614,913 shares of the real estate investment trust’s stock worth $4,279,000 after purchasing an additional 4,300 shares during the period. Renaissance Technologies LLC boosted its stake in shares of SOTHERLY HOTELS/SH SH by 10.5% during the 2nd quarter. Renaissance Technologies LLC now owns 599,734 shares of the real estate investment trust’s stock worth $4,174,000 after purchasing an additional 57,021 shares during the period. Cottage Street Advisors LLC boosted its stake in shares of SOTHERLY HOTELS/SH SH by 22.6% during the 2nd quarter. Cottage Street Advisors LLC now owns 406,655 shares of the real estate investment trust’s stock worth $2,830,000 after purchasing an additional 74,964 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of SOTHERLY HOTELS/SH SH by 10.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,675 shares of the real estate investment trust’s stock worth $203,000 after purchasing an additional 2,700 shares during the period. Finally, Wiley BROS. Aintree Capital LLC boosted its stake in shares of SOTHERLY HOTELS/SH SH by 155.0% during the 3rd quarter. Wiley BROS. Aintree Capital LLC now owns 25,500 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 15,500 shares during the period. 30.13% of the stock is owned by hedge funds and other institutional investors.
About SOTHERLY HOTELS/SH SH
Sotherly Hotels Inc is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Currently, the Company's portfolio consists of investments in twelve hotel properties, comprising 3,156 rooms, and an interest in the Hyde Resort & Residences, a luxury condo hotel.
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