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WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Williamsburg, Virginia, said it had funds from operations of $950.6 million, or 6 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $3.6 million, or 27 cents per share.
The real estate investment trust posted revenue of $44.3 million in the period.
For the year, the company reported funds from operations of $17.2 million, or $1.11 per share. Revenue was reported as $185.8 million.
Sotherly Hotels expects full-year funds from operations in the range of $1 to $1.06 per share, with revenue in the range of $184.1 million to $188.2 million.
The company's shares have dropped 23% since the beginning of the year. The stock has declined 18% in the last 12 months.