Sotherly Hotels: Q2 Earnings Snapshot

Associated Press Finance
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WILLIAMSBURG, Va. (AP) — WILLIAMSBURG, Va. (AP) — Sotherly Hotels Inc. (SOHO) on Thursday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Williamsburg, Virginia, said it had funds from operations of $7.3 million, or 37 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 net income of $3.1 million, or 16 cents per share.

The real estate investment trust, based in Williamsburg, Virginia, posted revenue of $49 million in the period.

For the current quarter ending in September, Sotherly Hotels said it expects revenue in the range of $39.1 million to $41 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SOHO at https://www.zacks.com/ap/SOHO

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