Sotherly Hotels Stock Price, News & Analysis

Sotherly Hotels (NASDAQ: SOHO) has declared quarterly cash dividends for its Series B, C, and D Preferred Stock. The company will distribute:

- $0.50 per share (8.0%) for Series B Preferred Stock
- $0.4921875 per share (7.875%) for Series C Preferred Stock
- $0.515625 per share (8.25%) for Series D Preferred Stock

All dividends will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.

Sotherly Hotels reported its Q3 2024 financial results with total revenue increasing to $40.7 million from $39.2 million in Q3 2023. The company's RevPAR increased 4.1% to $107.02, driven by a 7.8% increase in occupancy to 66.3%, despite a 3.4% decrease in ADR to $161.37. However, net loss attributable to common stockholders widened to $5.6 million from $3.9 million in Q3 2023. Hotel EBITDA improved to $8.1 million from $7.6 million. The company secured new mortgage financing for its Jacksonville Doubletree property and experienced impacts from Hurricane Helene at its Hotel Alba in Tampa.

Sotherly Hotels (NASDAQ: SOHO) has declared quarterly cash dividends for its preferred stock series. The company will pay:

- $0.50 per share (8.0% Series B)
- $0.4921875 per share (7.875% Series C)
- $0.515625 per share (8.25% Series D)

All preferred stock dividends will be paid on December 16, 2024, to shareholders of record as of November 29, 2024.

Sotherly Hotels Inc. (NASDAQ: SOHO) has announced its schedule for the third quarter 2024 earnings release and conference call. The company will report its financial results prior to market opening on Tuesday, November 12, 2024. A conference call for investors and interested parties is set for 10:00 a.m. Eastern Time on the same day, where management will discuss the Q3 2024 results.

The earnings release will be available on the company's website at www.sotherlyhotels.com in the Investors section under Financial Information. Interested individuals can access the call by telephone at 833-470-1428 (United States) using access code 033574. A webcast will also be available in the Investor Relations section of the company's website. For those unable to attend the live call, a taped rebroadcast will be accessible until November 19, 2024, by dialing 866-813-9403 with access code 629306.

Sotherly Hotels Inc. (NASDAQ: SOHO) has received a notice from Nasdaq due to its failure to file the Q2 2024 Quarterly Report (Form 10-Q) on time. This puts the company in non-compliance with Nasdaq's continued listing requirements. The delay is due to ongoing evaluations of financial presentations and accounting items. Nasdaq previously granted SOHO an exception until November 18, 2024, to file its Q1 2024 Form 10-Q. The company has until September 4, 2024, to submit an updated compliance plan to Nasdaq. While working to complete the Form 10-Q, SOHO's stock remains listed on the Nasdaq Global Market, but there's no guarantee of maintaining compliance with listing requirements.

Sotherly Hotels (NASDAQ: SOHO) reported its Q2 2024 financial results, showing mixed performance. Total revenue increased to $50.7 million from $49.0 million year-over-year. However, net income attributable to common stockholders fell to $2.6 million from $3.1 million a year earlier. For the first half of 2024, revenue reached $97.2 million, up from $92.5 million in H1 2023, but net income decreased 23.1% to $2.0 million. Hotel EBITDA grew to $15.7 million in Q2 2024 from $14.8 million in Q2 2023. Adjusted FFO rose to $7.5 million, a 6.7% increase. RevPAR climbed 4.3% to $137.67 due to a 5.8% rise in occupancy, though ADR dropped 1.4%. The company declared dividends for its Series B, C, and D preferred shares, payable on September 16, 2024. CEO Dave Folsom highlighted challenges in ADR and noted the company's efforts in mortgage refinancings and expense management.

Sotherly Hotels Inc. (NASDAQ: SOHO) has announced quarterly cash dividends for its Series B, C, and D Preferred Stock. The Board of Directors has authorized the following payments:

• Series B (8.0%): $0.50 per share
• Series C (7.875%): $0.4921875 per share
• Series D (8.25%): $0.515625 per share

All dividends will be paid on September 16, 2024, to shareholders of record as of August 30, 2024. This announcement demonstrates Sotherly Hotels' commitment to providing regular returns to its preferred stockholders.

Sotherly Hotels Inc. (NASDAQ: SOHO) has announced its schedule for the second quarter 2024 earnings release and conference call. The company will report financial results before the market opens on Tuesday, August 13, 2024. A conference call for investors and interested parties is set for 10:00 a.m. Eastern Time on the same day. Management will discuss the Q2 2024 results during the call.

Participants can access the call by dialing 833-470-1428 (United States) and entering access code 441747. A webcast will also be available on the company's website. For those unable to attend, a taped rebroadcast will be accessible until August 27, 2024, by dialing 866-813-9403 with access code 636280.

Sotherly Hotels (NASDAQ: SOHO) has announced a secured loan with Fifth Third Bank for its DoubleTree by Hilton Jacksonville Riverfront hotel. The loan includes an initial principal balance of $26.25 million with an additional $9.49 million available for improvements. Additionally, Sotherly has signed a 10-year franchise agreement with Hilton Worldwide to rebrand the hotel as Hotel Bellamy. A complete renovation, costing $14.6 million, is planned, covering guest rooms, public spaces, and more, with completion expected by January 2027. CEO Dave Folsom highlighted that the refinance and relaunch will enhance the hotel's position in the Jacksonville market.