Sotherly Hotels: Q1 Earnings Snapshot

·1 min read

WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Wednesday reported a loss in a key measure in its first quarter.

The real estate investment trust, based in Williamsburg, Virginia, said it had a funds from operations loss of $5.2 million, or 33 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 $9.1 million, or 62 cents per share.

The real estate investment trust posted revenue of $22.6 million in the period.

The company's shares closed at $3.24. A year ago, they were trading at $1.78.


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The Associated Press

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