Announcement • Feb 14
Sotherly Hotels Inc.(NasdaqCM:SOHO) dropped from NASDAQ Composite Index Sotherly Hotels Inc.has been dropped from the NASDAQ Composite Index Announcement • Feb 13
KW Kingfisher LLC, Investment Arm completed the acquisition of Sotherly Hotels Inc. (NasdaqCM:SOHO). KW Kingfisher LLC, Investment Arm entered into an agreement and plan of merger to acquire Sotherly Hotels Inc. (NasdaqCM:SOHO) for $46.3 million on October 24, 2025. A cash consideration valued at $2.25 per share will be paid by KW Kingfisher LLC, Investment Arm. The Merger Consideration represents a premium of 152.7% to the Company’s closing share price on October 24, 2025, the last trading day prior to the announcement of the transaction, and a 126.4% premium to the volume weighted average share price over the previous 30 days. Affiliates of Apollo (NYSE: APO) and Ascendant provided debt financing commitments to the Joint Venture in connection with the transaction. In case of termination of transaction, KW Kingfisher LLC, Investment Arm will pay a termination fee of $8 million, and seller will pay a termination fee of $4 million.
The Merger is expected to close in the first quarter of 2026, subject to approval by Sotherly stockholders and customary closing conditions. Andrew Sims, Sotherly’s Chairman of the Board and one of the Company’s largest stockholders, has agreed to vote all of his shares in favor of the transaction. The Merger Agreement has been unanimously approved by Sotherly’s full board of directors (the “Board”) following a unanimous recommendation from a special committee comprised of independent directors of the Board (the “Special Committee”). As on January 22, 2026, the transaction has been approved by Sotherly Hotels Inc shareholders.
Piper Sandler & Co. is serving as exclusive financial advisor and fairness opinion provider to the Special Committee and Jeff Hallos and James Giesel of FBT Gibbons LLP are serving as legal advisors to the Special Committee of Sotherly Hotels Inc. Richard Mattern of Bass, Berry & Sims PLC is serving as legal advisor to KWHP. Yaakov Sheinfeld, Scott Golenbock, Antonio Diaz-Albertini, and Kelsey Breck Baumberger of Milbank LLP served as debt counsel for KWHP. Berkadia is acting as the sole financial advisor and is arranging the financing for KWHP.
KW Kingfisher LLC, Investment Arm completed the acquisition of Sotherly Hotels Inc. (NasdaqCM:SOHO) on February 12, 2026. Announcement • Oct 27
KW Kingfisher LLC, Investment Arm entered into an agreement and plan of merger to acquire Sotherly Hotels Inc. (NasdaqCM:SOHO) for $46.3 million. KW Kingfisher LLC, Investment Arm entered into an agreement and plan of merger to acquire Sotherly Hotels Inc. (NasdaqCM:SOHO) for $46.3 million on October 24, 2025. A cash consideration valued at $2.25 per share will be paid by KW Kingfisher LLC, Investment Arm. The Merger Consideration represents a premium of 152.7% to the Company’s closing share price on October 24, 2025, the last trading day prior to the announcement of the transaction, and a 126.4% premium to the volume weighted average share price over the previous 30 days. Affiliates of Apollo (NYSE: APO) and Ascendant provided debt financing commitments to the Joint Venture in connection with the transaction. In case of termination of transaction, KW Kingfisher LLC, Investment Arm will pay a termination fee of $8 million and seller will pay a termination fee of $4 million.
The Merger is expected to close in the first quarter of 2026, subject to approval by Sotherly stockholders and customary closing conditions. Andrew Sims, Sotherly’s Chairman of the Board and one of the Company’s largest stockholders, has agreed to vote all of his shares in favor of the transaction. The Merger Agreement has been unanimously approved by Sotherly’s full board of directors (the “Board”) following a unanimous recommendation from a special committee comprised of independent directors of the Board (the “Special Committee”).
Piper Sandler & Co. is serving as exclusive financial advisor and fairness opinion provider to the Special Committee and Jeff Hallos and James Giesel of Frost Brown Todd LLP are serving as legal advisors to the Special Committee of Sotherly Hotels Inc. Richard Mattern of Bass, Berry & Sims PLC is serving as legal advisor to KWHP. Milbank LLP served as debt counsel for KWHP. Berkadia is acting as the sole financial advisor and is arranging the financing for KWHP. Announcement • Oct 07
Sotherly Hotels Inc. to Report Q3, 2025 Results on Nov 13, 2025 Sotherly Hotels Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 13, 2025 Announcement • Aug 14
Sotherly Hotels Receives a Notification Letter from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market On August 12, 2025, Sotherly Hotels Inc., received a notification letter from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it had been granted an additional 180 days, or until February 9, 2026 (the “Second Compliance Period”), to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period. In order to be eligible to receive the Second Compliance Period, the Company applied to have its common stock (the “Common Stock”) transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market. In connection with the grant of the Second Compliance Period, the application was approved and the Common Stock will move to the Nasdaq Capital Market effective at the opening of business on August 14, 2025. As previously disclosed by the Company in a Current Report on Form 8-K filed on February 14, 2025, the Company received a notification letter from the Staff notifying the Company that, because the closing bid price for the Common Stock listed on the Nasdaq Global Select Market was below $1.00 for 30 consecutive business days, the Company no longer met the Minimum Bid Price Requirement. If at any time before February 9, 2026, the bid price of the Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance, subject to the Staff’s discretion to extend the minimum bid price compliance period. If the Company does not regain compliance with the Minimum Bid Price Requirement by the end of the Second Compliance Period, the Common Stock will become subject to delisting. In the event that the Company receives notice that the Common Stock is being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Staff to a hearings panel. The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Select Market, and the Company’s Common Stock will continue to be listed and traded under the symbol “SOHO.” The Company intends to continue to monitor the closing bid price of the Common Stock between now and February 9, 2026, and will consider available options to regain compliance with the Minimum Bid Price Requirement, including effecting a reverse stock split, if necessary. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with other Nasdaq Listing Rules. Announcement • Aug 12
Sotherly Hotels Inc. Updates Earnings Guidance for the Year 2025 Sotherly Hotels Inc. updated earnings guidance for the year 2025. For the year, the company expects total revenues of $185,157,000 - $188,168,000 against previous guidance of $183,388,000 - $188,168,000. Net (loss) income of ($1,230,000) - ($624,000) against previous guidance of ($676,000) - $129,000. Net loss per share attributable to common stockholders of ($0.46) - ($0.43) against previous guidance of ($0.43) - ($0.39). Announcement • Jul 21
Sotherly Hotels Inc., Annual General Meeting, Nov 17, 2025 Sotherly Hotels Inc., Annual General Meeting, Nov 17, 2025. Announcement • Jul 16
Sotherly Hotels Inc. to Report Q2, 2025 Results on Aug 12, 2025 Sotherly Hotels Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025 Announcement • Jul 03
Sotherly Hotels Inc. Announces Notice of Default on Mortgage Loan Secured by the Georgian Terrace Hotel in Atlanta Sotherly Hotels Inc. announced the Company received a Notice of Default (the “Notice”) from the special servicer for its mortgage loan secured by the Georgian Terrace in Atlanta. The Notice states that the Company’s subsidiary, SOHO Atlanta LLC, is in default under the note and the loan documents by virtue of, among other things, its failure to pay all amounts when due thereunder, and that the current lender, Wilmington Trust, National Association, as Trustee, will take all such actions as it deems appropriate to protect its interest in the mortgage loan and to collect the debt thereunder, including, without limitation, seeking foreclosure and/or reconveyance of its security under the loan documents without further notice or demand except as required pursuant to state law and the loan documents. The Company estimates that the amount of direct financial obligation, as of July 2, 2025, is approximately $38.0 million. The Company has engaged a consultant to negotiate for an extension of the mortgage loan with the special servicer, and proposed extension terms have been provided to the special servicer. The Company intends to continue making interest payments, as well as real estate tax escrow, and required reserve payments in the interim. Announcement • May 14
Sotherly Hotels Inc. Reiterates Earnings Guidance for the Fiscal Year 2025 Sotherly Hotels Inc. reiterated earnings guidance for the fiscal year 2025. For the year, the company expects total revenue in the range of $183.4 million to $188.2 million for full year 2025. At the midpoint of this guidance, it represents a 2.1% increase over the prior year. Net loss in the range of $676,000 to net income of $129,000 and Net loss attributable to common stockholders and unitholders in the range of $8,651,000 to $7,846,000. Net loss per share attributable to common stockholders in the range of $0.43 to $0.39. Announcement • Apr 03
Sotherly Hotels Inc. to Report Q1, 2025 Results on May 13, 2025 Sotherly Hotels Inc. announced that they will report Q1, 2025 results Pre-Market on May 13, 2025 Announcement • Mar 13
Sotherly Hotels Inc. Provides Earnings Guidance for the Fiscal Year 2025 Sotherly Hotels Inc. provided earnings guidance for the fiscal year 2025. For the year, the company expects total revenues in the range of $183,388,000 to $188,168,000, net loss in the range of $676,000 to net income of $129,000 and Net loss per share attributable to common stockholders in the range of $0.43 to $0.39. Announcement • Feb 15
Sotherly Hotels Inc. Receives A Deficiency Letter from Nasdaq Regarding Minimum Bid Price Requirement On February 11, 2025, Sotherly Hotels Inc. (the Company") received a deficiency letter (the Notice") from The Nasdaq Stock Market LLC (Nasdaq"), notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's common stock has been below the minimum $1.00 bid price per share requirement for continued listing on The Nasdaq Global Market pursuant to Listing Rule 5450(a)(1) (the Minimum Bid Price Requirement"). The Notice has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on The Nasdaq Global Market under the symbol SOHO." In accordance with Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until August 11, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before August 11, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification to the Company that it has achieved compliance. If the Company does not regain compliance with the Minimum Bid Price Requirement by August 11, 2025, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company would be required to transfer to The Nasdaq Capital Market and meet the continued listing and all other applicable requirements for initial listing on The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period. If Nasdaq concludes that the Company will not be able to cure the deficiency, or if the Company does not regain compliance with the minimum bid price requirement within such additional 180 calendar day compliance period, Nasdaq will provide written notification to the Company that the Company's common stock will be subject to delisting. The Company will have the right to appeal a delisting determination and the Company's common stock will remain listed on Nasdaq until the completion of the appeal process. Announcement • Feb 12
Sotherly Hotels Inc. to Report Q4, 2024 Results on Mar 13, 2025 Sotherly Hotels Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 13, 2025 Announcement • Nov 15
Sotherly Hotels Inc. announced delayed 10-Q filing On 11/14/2024, Sotherly Hotels Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Nov 13
Sotherly Hotels Inc. Revises Earnings Guidance for the Year 2024 Sotherly Hotels Inc. revised earnings guidance for the year 2024. For the year, the company expects Total revenue of $177,795,000 to $180,138,000 compared to previous guidance of $178,952,000 to $182,567,000. Net loss of $497,000 to net income of $100,000 compared to previous guidance net income of $1,598,000 to $2,593,000. Net loss attributable to common stockholders and unitholders of $8,472,000 to $7,875,000 compared to previous guidance of $6,377,000 to $5,382,000. Announcement • Oct 09
Sotherly Hotels Inc. to Report Q3, 2024 Results on Nov 12, 2024 Sotherly Hotels Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 12, 2024 Announcement • Aug 25
Sotherly Hotels Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q Sotherly Hotels Inc. (the ‘Company’) announced that it has received a notice (‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market (‘Nasdaq’) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the ‘Form 10-Q’) in a timely fashion. The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1). As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the ‘SEC’) on August 12, 2024, the Company’s Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense as a result of ongoing evaluation of the presentation of the preferred units on the balance sheet of its operating partnership as permanent equity, rather than as temporary equity (mezzanine), as well as ongoing evaluation of the accounting for other items. Previously, Nasdaq granted the Company an exception until November 18, 2024 to file its delinquent Form 10-Q for the period ended March 31, 2024 (the ‘Initial Delinquent Filing’). As a result, any additional Nasdaq exception will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or until November 18, 2024. In accordance with Nasdaq’s listing rules, the Company has until September 4, 2024 to submit to Nasdaq an update to its original plan to regain compliance with Nasdaq's listing rules. As noted above, the Company is working diligently to complete its Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance with the Nasdaq Listing Rules. No assurance can be given that the Company will be able to regain compliance with the aforementioned listing requirement or maintain compliance with the other continued listing requirements set forth in the Nasdaq Listing Rules. The Notice has no immediate effect on the listing of the Company’s common stock or preferred stock on the Nasdaq Global Market. Announcement • Aug 14
Sotherly Hotels Inc. Provides Earnings Guidance for the Year 2024 Sotherly Hotels Inc. provided earnings guidance for the year 2024. For the year, the company expects Net income of $1,598 million - $2,593 million. Announcement • Aug 13
Sotherly Hotels Inc. announced delayed 10-Q filing On 08/12/2024, Sotherly Hotels Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jul 17
Sotherly Hotels Inc. to Report Q2, 2024 Results on Aug 13, 2024 Sotherly Hotels Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 13, 2024 Announcement • May 31
Sotherly Hotels Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q Sotherly Hotels Inc. announced that it has received a notice from the Listing Qualifications Department of The Nasdaq Stock Market as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 in a timely fashion. The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1). As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission on May 16, 2024, the Company’s Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense as a result of ongoing evaluation of the presentation of the preferred units on the balance sheet of the Partnership as permanent equity, rather than as temporary equity (mezzanine), as well as ongoing evaluation of the accounting for other items. Nasdaq has informed the Company that, under Nasdaq rules, the Company will have 60 calendar days from the date of the Notice (May 22, 2024), or until July 21, 2024, to submit a plan to regain compliance with the Nasdaq rules. The Company can regain compliance with Nasdaq listing standards during this sixty-day period when the Company files its Form 10-Q with the SEC. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-Q (May 15, 2024), or until November 11, 2024, to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel. As noted above, the Company is working diligently to complete its Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance with the Nasdaq Listing Rules. No assurance can be given that the Company will be able to regain compliance with the aforementioned listing requirement or maintain compliance with the other continued listing requirements set in the Nasdaq Listing Rules. The Notice has no immediate effect on the listing of the Company’s common stock or preferred stock on the Nasdaq Global Market. Announcement • May 18
Sotherly Hotels Inc. announced delayed 10-Q filing On 05/16/2024, Sotherly Hotels Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • May 10
First quarter 2024 earnings released: US$0.034 loss per share (vs US$0.031 loss in 1Q 2023) First quarter 2024 results: US$0.034 loss per share (further deteriorated from US$0.031 loss in 1Q 2023). Revenue: US$46.5m (up 7.0% from 1Q 2023). Net loss: US$659.4k (loss widened 13% from 1Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Hotel and Resort REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • May 10
Sotherly Hotels Lp Reaffirms Earnings Guidance for the Year 2024 Sotherly Hotels LP reaffirmed earnings guidance for the year 2024. For the period, the company expects total revenue to be in the range of $178,952,000 to $182,567,000, net income to be in the range of $1,598,000 to $2,593,000 and net loss available to common stockholders, unitholders to be in the range of $6,377,000 to $5,382,000 and net loss per share available to common stockholders to be in the range of $0.32 to $0.27. Announcement • Apr 16
Sotherly Hotels Inc. to Report Q1, 2024 Results on May 09, 2024 Sotherly Hotels Inc. announced that they will report Q1, 2024 results Pre-Market on May 09, 2024 Announcement • Mar 28
Sotherly Hotels Inc., Annual General Meeting, Apr 30, 2024 Sotherly Hotels Inc., Annual General Meeting, Apr 30, 2024, at 09:00 US Eastern Standard Time. Location: Williamsburg Community Building 401 North Boundary Street Williamsburg Virginia United States Agenda: To elect seven directors to the board of directors of the Company; to ratify the appointment of FORVIS, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; to hold an advisory and non-binding vote to approve executive compensation; and to transact such other business as may properly come before the Annual Meeting and any adjournments thereof. Announcement • Mar 08
Sotherly Hotels LP Provides Earnings Guidance for the Year 2024 Sotherly Hotels LP provided earnings guidance for the year 2024. For the period, the company expects total revenue to be in the range of $182,567,000 to $178,952,000, net income to be in the range of $2,593,000 to $1,598,000 and net loss available to common stockholders, unitholders to be in the range of $5,382,000 to $6,377,000 and net loss per share available to common stockholders to be in the range of $0.27 to $0.32. Reported Earnings • Mar 08
Full year 2023 earnings released: US$0.21 loss per share (vs US$1.40 profit in FY 2022) Full year 2023 results: US$0.21 loss per share (down from US$1.40 profit in FY 2022). Revenue: US$173.8m (up 4.7% from FY 2022). Net loss: US$4.04m (down 116% from profit in FY 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Hotel and Resort REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Jan 16
Sotherly Hotels Inc. to Report Q4, 2023 Results on Mar 06, 2024 Sotherly Hotels Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 06, 2024 Announcement • Nov 11
Sotherly Hotels Inc. Provides Earnings Guidance for the Fourth Quarter of 2023 Sotherly Hotels Inc. provided earnings guidance for the fourth quarter of 2023. For the period, the company expects total revenue to be in the range of $40,494,000 to $41,970,000, net loss to be in the range of $1,708,000 to $1,309,000 and net loss available to common stockholders, unitholders to be in the range of $3,703,000 to $3,304,000 and net loss per share available to common stockholders to be in the range of $0.19 to $0.17. Reported Earnings • Nov 10
Third quarter 2023 earnings released: US$0.21 loss per share (vs US$0.006 profit in 3Q 2022) Third quarter 2023 results: US$0.21 loss per share (down from US$0.006 profit in 3Q 2022). Revenue: US$39.2m (flat on 3Q 2022). Net loss: US$3.90m (down US$4.02m from profit in 3Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Hotel and Resort REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$1.73, the stock trades at a trailing P/E ratio of 5.7x. Average forward P/E is 20x in the Hotel and Resort REITs industry in the US. Total returns to shareholders of 10% over the past three years. Announcement • Oct 12
Sotherly Hotels Inc. to Report Q3, 2023 Results on Nov 09, 2023 Sotherly Hotels Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 09, 2023 Recent Insider Transactions Derivative • Sep 17
Chairman notifies of intention to sell stock Andrew Sims intends to sell 197k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of September. If the sale is conducted around the recent share price of US$1.85, it would amount to US$364k. Since September 2022, Andrew's direct individual holding has increased from 1.44m shares to 1.50m. Company insiders have collectively sold US$104k more than they bought, via options and on-market transactions in the last 12 months. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$1.72, the stock trades at a trailing P/E ratio of 5.7x. Average forward P/E is 18x in the Hotel and Resort REITs industry in the US. Total loss to shareholders of 18% over the past three years. Price Target Changed • Aug 11
Price target increased by 13% to US$2.25 Up from US$2.00, the current price target is provided by 1 analyst. New target price is 6.6% above last closing price of US$2.11. Stock is down 16% over the past year. The company posted earnings per share of US$1.40 last year. Announcement • Aug 11
Sotherly Hotels Inc. Provides Earnings Guidance for the Third Quarter of 2023 Sotherly Hotels Inc. provided earnings guidance for the third quarter of 2023. For the quarter, the company expects total revenue of $39,100,000 - $41,044,000 and Net loss of $2,272,000 - $1,831,000. Net loss per share available to common stockholders of $0.22 to $0.20. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: US$0.17 (vs US$1.36 in 2Q 2022) Second quarter 2023 results: EPS: US$0.17 (down from US$1.36 in 2Q 2022). Revenue: US$49.0m (up 3.9% from 2Q 2022). Net income: US$3.13m (down 87% from 2Q 2022). Profit margin: 6.4% (down from 51% in 2Q 2022). Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Hotel and Resort REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 13
Sotherly Hotels Inc. to Report Q2, 2023 Results on Aug 10, 2023 Sotherly Hotels Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 10, 2023 Reported Earnings • May 14
First quarter 2023 earnings released: US$0.031 loss per share (vs US$0.15 loss in 1Q 2022) First quarter 2023 results: US$0.031 loss per share (improved from US$0.15 loss in 1Q 2022). Revenue: US$43.5m (up 13% from 1Q 2022). Net loss: US$581.8k (loss narrowed 77% from 1Q 2022). Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Hotel and Resort REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Sotherly Hotels Inc. Provides Earnings Guidance for the Second Quarter of 2023 Sotherly Hotels Inc. provided earnings guidance for the second quarter of 2023. For the quarter, the company expects total revenue of $48,881,000 - $51,311,000 and Net income of $4,862,000 - $5,641,000. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: US$1.40 (vs US$2.15 loss in FY 2021) Full year 2022 results: EPS: US$1.40 (up from US$2.15 loss in FY 2021). Revenue: US$166.1m (up 30% from FY 2021). Net income: US$25.0m (up US$58.4m from FY 2021). Profit margin: 15% (up from net loss in FY 2021). Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to US$2.32, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 35x in the REITs industry in the US. Total loss to shareholders of 64% over the past three years. Announcement • Jan 12
Sotherly Hotels Inc. to Report Q4, 2022 Results on Mar 02, 2023 Sotherly Hotels Inc. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Mar 02, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: US$0.006 (vs US$0.27 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.006 (up from US$0.27 loss in 3Q 2021). Revenue: US$39.2m (up 11% from 3Q 2021). Net income: US$112.7k (up US$4.43m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Maria Caldwell was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: US$0.006 (vs US$0.27 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.006 (up from US$0.27 loss in 3Q 2021). Revenue: US$39.2m (up 11% from 3Q 2021). Net income: US$112.7k (up US$4.43m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the REITs industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 22
Chairman recently sold US$64k worth of stock On the 19th of September, Andrew Sims sold around 30k shares on-market at roughly US$2.14 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Andrew's only on-market trade for the last 12 months. Reported Earnings • Aug 12
Second quarter 2022 earnings released: FFO per share: US$0.04 (vs US$0.096 in 2Q 2021) Second quarter 2022 results: FFO per share: US$0.04 (down from US$0.096 in 2Q 2021). Revenue: US$47.2m (up 37% from 2Q 2021). Funds from operations (FFO): US$736.2k (down 47% from 2Q 2021). FFO margin: 1.6% (down from 4.0% in 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 7.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: US$0.15 loss per share (up from US$0.62 loss in 1Q 2021). Revenue: US$38.4m (up 69% from 1Q 2021). Net loss: US$2.66m (loss narrowed 71% from 1Q 2021). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 55%. Over the next year, revenue is forecast to grow 26%, compared to a 9.3% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 37% per year whereas the company’s share price has fallen by 36% per year. Price Target Changed • Apr 27
Price target decreased to US$2.50 Down from US$2.75, the current price target is provided by 1 analyst. New target price is 29% above last closing price of US$1.94. Stock is down 38% over the past year. The company posted a net loss per share of US$2.15 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Maria Caldwell was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 05
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: US$2.15 loss per share (up from US$4.05 loss in FY 2020). Revenue: US$127.6m (up 79% from FY 2020). Net loss: US$33.4m (loss narrowed 42% from FY 2020). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 55%. Over the next year, revenue is forecast to grow 37%, compared to a 11% growth forecast for the reits industry in the US. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Board Change • Dec 05
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Maria Caldwell was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 14
Third quarter 2021 earnings released: US$0.27 loss per share (vs US$0.85 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$35.5m (up 146% from 3Q 2020). Net loss: US$2.24m (loss narrowed 82% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Price Target Changed • Sep 02
Price target decreased to US$3.30 Down from US$3.88, the current price target is an average from 2 analysts. New target price is 36% above last closing price of US$2.43. Stock is up 28% over the past year. Reported Earnings • Aug 13
Second quarter 2021 earnings released: US$0.093 loss per share (vs US$1.20 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$34.4m (up US$29.1m from 2Q 2020). Net loss: US$1.37m (loss narrowed 92% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 06
Chairman recently sold US$106k worth of stock On the 3rd of June, Andrew Sims sold around 27k shares on-market at roughly US$3.85 per share. In the last 3 months, they made an even bigger sale worth US$141k. Andrew has been a seller over the last 12 months, reducing personal holdings by US$246k. Price Target Changed • Jun 04
Price target increased to US$3.88 Up from US$3.25, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$3.85. Stock is up 11% over the past year. Recent Insider Transactions • Apr 03
Chairman recently sold US$141k worth of stock On the 30th of March, Andrew Sims sold around 40k shares on-market at roughly US$3.52 per share. This was the largest sale by an insider in the last 3 months. This was Andrew's only on-market trade for the last 12 months. Reported Earnings • Mar 28
Full year 2020 earnings released: US$2.98 FFO loss per share (vs US$1.08 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$71.4m (down 62% from FY 2019). Funds from operations (FFO) loss: US$42.7m (down 389% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 11
New 90-day high: US$4.08 The company is up 40% from its price of US$2.91 on 10 December 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$80.94 per share. Major Estimate Revision • Mar 11
Analysts update estimates The 2021 consensus revenue estimate was lowered from US$122.7m to US$105.9m. Earning per share (EPS) estimate was unchanged from the last update at -US$1.75. The REITs industry in the US is expected to see an average net income growth of 3.8% next year. The consensus price target increased from US$3.25 to US$3.88. Share price is up 7.4% to US$4.08 over the past week. Reported Earnings • Mar 06
Full year 2020 earnings released: US$4.08 loss per share (vs US$0.43 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$71.5m (down 62% from FY 2019). Net loss: US$58.4m (loss widened US$52.5m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 92% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 06
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.4%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the next year, revenue is forecast to grow 48%, compared to a 5.1% growth forecast for the REITs industry in the US. Is New 90 Day High Low • Feb 10
New 90-day high: US$3.25 The company is up 41% from its price of US$2.31 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$73.89 per share. Price Target Changed • Feb 10
Price target lowered to US$2.75 Down from US$3.00, the current price target is an average from 2 analysts. The new target price is 15% below the current share price of US$3.25. As of last close, the stock is down 46% over the past year. Is New 90 Day High Low • Nov 10
New 90-day high: US$2.58 The company is up 8.0% from its price of US$2.38 on 12 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$76.95 per share. Is New 90 Day High Low • Oct 20
New 90-day low: US$1.65 The company is down 31% from its price of US$2.38 on 22 July 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.31 per share. Is New 90 Day High Low • Sep 22
New 90-day low: US$1.84 The company is down 33% from its price of US$2.73 on 24 June 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.31 per share.