StockNews.com Begins Coverage on Sotherly Hotels (NASDAQ:SOHO)

StockNews.com assumed coverage on shares of Sotherly Hotels (NASDAQ:SOHO) in a research report sent to investors on Monday. The brokerage issued a hold rating on the real estate investment trust’s stock.

Separately, Piper Sandler lowered their target price on Sotherly Hotels from $2.00 to $1.50 and set a neutral rating for the company in a research note on Tuesday, September 3rd.

Sotherly Hotels Trading Up 0.8 %

NASDAQ SOHO opened at $1.18 on Monday. Sotherly Hotels has a 1-year low of $1.07 and a 1-year high of $1.88. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 6.63. The stock has a 50-day moving average of $1.23 and a 200-day moving average of $1.30. The firm has a market cap of $23.42 million, a PE ratio of -5.62 and a beta of 1.67.

Institutional Investors Weigh In On Sotherly Hotels

A hedge fund recently raised its stake in Sotherly Hotels stock. PSI Advisors LLC raised its holdings in shares of Sotherly Hotels Inc. (NASDAQ:SOHO) by 11.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,519 shares of the real estate investment trust’s stock after purchasing an additional 11,944 shares during the period. PSI Advisors LLC owned 0.59% of Sotherly Hotels worth $170,000 at the end of the most recent reporting period. 27.54% of the stock is currently owned by institutional investors.

About Sotherly Hotels

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. Sotherly may also opportunistically acquire hotels throughout the United States.