Welcome to our dedicated page for Sotherly Hotels news (Ticker: SOHO), a resource for investors and traders seeking the latest updates and insights on Sotherly Hotels stock.
Sotherly Hotels Inc. (NASDAQ: SOHO) is a self-managed and self-administered lodging REIT that regularly issues news and regulatory updates related to its hotel portfolio, capital structure and strategic transactions. Organized in 2004 and headquartered in Williamsburg, Virginia, the company focuses on upscale to upper-upscale full-service hotels in the Southern United States and reports on performance and corporate developments through press releases and SEC filings.
News about Sotherly often covers quarterly and annual financial results, including metrics such as total revenues, RevPAR, hotel EBITDA, funds from operations (FFO) and adjusted FFO. Earnings releases may also discuss portfolio performance, booking trends, balance sheet and liquidity positions, and updates to annual guidance ranges. These disclosures help investors and analysts follow changes in lodging demand and hotel-level profitability across the company’s ten full-service hotels and two condominium hotel interests.
Sotherly’s news flow also includes announcements about preferred stock dividends and dividend policy decisions. The company has declared quarterly cash dividends on its Series B, Series C and Series D cumulative redeemable perpetual preferred stock, and has separately announced the deferral of previously declared preferred dividends and the suspension of future preferred dividends, reflecting board-level decisions on capital allocation and financing conditions.
Capital markets and financing developments are another recurring theme. Sotherly has reported on new mortgage loans, such as a secured loan on The DeSoto hotel in Savannah, Georgia, as well as notices of default on certain property-level mortgages and subsequent negotiations with special servicers. These items provide insight into the company’s debt profile, refinancing efforts and interactions with lenders.
A significant component of recent news is the definitive merger agreement under which a joint venture-backed entity, KW Kingfisher LLC, will acquire all outstanding shares of Sotherly common stock for cash consideration, subject to stockholder approval and other customary conditions. Related releases and Form 8-K filings describe the merger terms, expected timeline and the planned proxy statement process. Visitors to this news page can review these updates to understand the proposed transition of Sotherly from a publicly traded REIT to a privately held subsidiary.
By following the SOHO news feed, readers can track financial reporting, dividend actions, property-level financing events, governance matters and the progress of the announced merger, using original company communications as a primary source of information.
Sotherly Hotels (NASDAQ: SOHO) has announced its Board of Directors' authorization of quarterly cash dividends for three series of preferred stock.
The dividend details are:
- Series B Preferred Stock: $0.50 per share (8.0% rate)
- Series C Preferred Stock: $0.4921875 per share (7.875% rate)
- Series D Preferred Stock: $0.515625 per share (8.25% rate)
All dividends will be paid on June 16, 2025, to shareholders of record as of May 30, 2025. This announcement covers the company's Cumulative Redeemable Perpetual Preferred Stock across all three series.
Sotherly Hotels (NASDAQ: SOHO) has scheduled its first quarter 2025 earnings release for Tuesday, May 13, 2025, before market opening. The company will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss Q1 2025 results.
Investors can access the conference call via telephone at 833-470-1428 (US) using access code 808300. A webcast option will be available through the Investor Relations section of the company's website. For those unable to attend live, a replay will be accessible until March 20, 2025, by dialing 866-813-9403 with access code 926357.
Sotherly Hotels (NASDAQ: SOHO) reported its Q4 and full-year 2024 financial results. Key highlights include:
Revenue increased to $44.0 million in Q4 2024 from $42.1 million in Q4 2023. Full-year revenue grew 4.6% to $181.9 million. RevPAR for the composite portfolio increased 2.6% to $108.99 in Q4, driven by a 4.1% increase in occupancy to 64.1%, despite a 3.9% decrease in ADR to $170.10.
The company reported a net loss of $3.0 million in Q4 2024, compared to a $2.7 million loss in Q4 2023. Full-year net loss increased 65.4% to $6.7 million. Hotel EBITDA improved to $10.7 million in Q4 and $46.8 million for the full year, up 4.5% from 2023.
The company maintains approximately $28.7 million in cash and cash equivalents, with $319.3 million in outstanding debt at a 5.88% weighted average interest rate.
Sotherly Hotels (NASDAQ: SOHO) has issued an amendment to its previously released 2024 dividend tax classification for Series D preferred shares (CUSIP #83600C509). The amendment was necessary due to incorrect 'paid' and 'record' dates in the February 18, 2025 release. No portion of the dividends declared in 2024 represented foreign taxes or qualified dividend income.
Record holders will receive IRS Form 1099-DIV from Equiniti Trust Company, while shareholders with shares in 'street name' will receive IRS Form 1099 from their respective financial institutions. The tax classifications are based on preliminary results and, while subject to adjustment when filings are completed, no material changes are expected.
Sotherly Hotels (NASDAQ: SOHO) has released its estimated income tax classification for 2024 distributions on its preferred shares Series B, C, and D. The company's dividends are classified as 100% taxable ordinary income and qualify as Section 199A dividends.
For Series B preferred shares, quarterly distributions of $0.50 per share totaled $2.00 annually. Series C preferred shares received $0.492188 quarterly, totaling $1.968752 for the year. Series D preferred shares had quarterly payments of $0.515625, amounting to $2.0625 annually.
No portion of the 2024 dividends represented foreign taxes or qualified dividend income. Shareholders will receive IRS Form 1099-DIV from Equiniti Trust Company for direct holdings, while those with shares in 'street name' will receive forms from their respective financial institutions.
Sotherly Hotels (NASDAQ: SOHO) has scheduled its Fourth Quarter 2024 earnings release and conference call. The company will release financial results before market opening on Thursday, March 13, 2025. A conference call for investors will follow at 10:00 a.m. Eastern Time on the same day.
Investors can access the conference call via telephone at 833-470-1428 (US) using access code 538548. The earnings release will be available on the company's website in the Investors section. A recorded replay will be accessible until March 20, 2025, by dialing 866-813-9403 with access code 963139.
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.