SOTHERLY HOTELS/SH SH (NASDAQ:SOHO) announced a quarterly dividend on Monday, July 29th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.13 per share by the real estate investment trust on Friday, October 11th. This represents a $0.52 annualized dividend and a yield of 7.71%. The ex-dividend date of this dividend is Thursday, September 12th.
SOTHERLY HOTELS/SH SH has increased its dividend by an average of 17.5% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. SOTHERLY HOTELS/SH SH has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SOTHERLY HOTELS/SH SH to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 43.7%.
Shares of NASDAQ:SOHO traded down $0.05 during midday trading on Tuesday, reaching $6.74. 11,977 shares of the company’s stock were exchanged, compared to its average volume of 26,371. The firm’s 50 day simple moving average is $6.86 and its two-hundred day simple moving average is $6.93. The company has a debt-to-equity ratio of 3.47, a current ratio of 2.27 and a quick ratio of 2.27. The stock has a market cap of $95.86 million, a price-to-earnings ratio of 6.48 and a beta of 0.74. SOTHERLY HOTELS/SH SH has a fifty-two week low of $5.43 and a fifty-two week high of $7.69.
In other SOTHERLY HOTELS/SH SH news, insider David R. Folsom sold 8,517 shares of SOTHERLY HOTELS/SH SH stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $7.60, for a total value of $64,729.20. Following the completion of the transaction, the insider now directly owns 261,674 shares of the company’s stock, valued at approximately $1,988,722.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Sims sold 19,126 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $6.80, for a total transaction of $130,056.80. Following the sale, the chief executive officer now owns 380,813 shares in the company, valued at $2,589,528.40. The disclosure for this sale can be found here. Insiders have sold 38,742 shares of company stock worth $276,984 over the last 90 days. 14.40% of the stock is owned by insiders.
Separately, Zacks Investment Research lowered shares of SOTHERLY HOTELS/SH SH from a “hold” rating to a “sell” rating in a report on Saturday, August 10th.
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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