Sotherly Hotels Inc. announced quarterly cash dividends for Series B, C, and D Preferred Stock, payable March 14, 2025.
Quiver AI Summary
Sotherly Hotels Inc. announced that its Board of Directors has approved quarterly cash dividends for its Series B, C, and D Preferred Stock. The dividends include $0.50 per share for the Series B, $0.4921875 for the Series C, and $0.515625 for the Series D. All dividends will be paid on March 14, 2025, to shareholders of record as of February 28, 2025. Sotherly Hotels is a self-managed lodging REIT focused on acquiring and enhancing upscale hotels, primarily in the Southern U.S., currently owning ten hotel properties and interests in two condominium hotels. The company, established in 2004 and based in Williamsburg, Virginia, operates hotels under major brands like Hilton and Hyatt.
Potential Positives
- The announcement of quarterly cash dividends demonstrates the company's commitment to returning value to its shareholders, which may enhance investor confidence.
- The dividends declared for the Series B, C, and D Preferred Stocks indicate a stable financial position and positive cash flow for Sotherly Hotels Inc.
- Payment on March 14, 2025, for dividends may attract new investors seeking reliable income from their investments.
- The press release highlights the company's diversified portfolio, including partnerships with established hotel brands like Hilton and Hyatt, indicating growth potential and brand recognition.
Potential Negatives
- The announcement of cash dividends may indicate that the company is facing challenges in generating sufficient operating income, as dividends are often a way to appease investors when overall company performance is lacking.
- Declaring dividends for preferred stock instead of common stock may raise concerns among investors regarding the company's capacity to support broader shareholder returns, potentially signaling a lack of confidence in future profitability.
- The focus on paying dividends to preferred stockholders could suggest limited cash availability for reinvestment in the company's operations or growth initiatives, which may negatively impact its competitive position in the hospitality market.
FAQ
What are the latest dividend announcements from Sotherly Hotels Inc.?
Sotherly Hotels Inc. has declared quarterly cash dividends for its Series B, C, and D Preferred Stock to be paid on March 14, 2025.
How much is the dividend for Series B Preferred Stock?
The quarterly cash dividend for the Series B Preferred Stock is $0.50 per share.
When will the dividends be paid?
Dividends will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.
What is the focus of Sotherly Hotels Inc.?
Sotherly Hotels Inc. focuses on acquiring, renovating, and repositioning upscale to upper-upscale hotels primarily in the Southern United States.
Where is Sotherly Hotels Inc. headquartered?
Sotherly Hotels Inc. is headquartered in Williamsburg, Virginia, and was organized in 2004.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SOHO Hedge Fund Activity
We have seen 6 institutional investors add shares of $SOHO stock to their portfolio, and 16 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 168,783 shares (-88.5%) from their portfolio in Q3 2024, for an estimated $204,227
- GAMCO INVESTORS, INC. ET AL added 97,688 shares (+26.5%) to their portfolio in Q3 2024, for an estimated $118,202
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 59,183 shares (-54.1%) from their portfolio in Q3 2024, for an estimated $71,611
- BARD ASSOCIATES INC removed 45,000 shares (-9.1%) from their portfolio in Q3 2024, for an estimated $54,450
- SENECA HOUSE ADVISORS removed 31,700 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $29,525
- GEODE CAPITAL MANAGEMENT, LLC added 27,196 shares (+18.2%) to their portfolio in Q3 2024, for an estimated $32,907
- RENAISSANCE TECHNOLOGIES LLC added 20,500 shares (+25.2%) to their portfolio in Q3 2024, for an estimated $24,805
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WILLIAMSBURG, Va., Jan. 28, 2025 (GLOBE NEWSWIRE) --
Sotherly Hotels Inc.
(NASDAQ: SOHO) (the “Company”) today announced that its Board of Directors has authorized payment of quarterly cash dividends for the Company’s Series B, Series C, and Series D Preferred Stock.
The Board of Directors authorized, and the Company has declared, a quarterly cash dividend of $0.50 per share of beneficial interest of the Company’s 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock. The Series B preferred dividend will be paid on March 14, 2025 to shareholders of record as of February 28, 2025.
The Board of Directors also authorized, and the Company has declared, a quarterly cash dividend of $0.4921875 per share of beneficial interest of the Company’s 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock. The Series C preferred dividend will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.
The Board of Directors also authorized, and the Company has declared, a quarterly cash dividend of $0.515625 per share of beneficial interest of the Company’s 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock. The Series D preferred dividend will be paid on March 14, 2025, to shareholders of record as of February 28, 2025.
About Sotherly Hotels Inc.
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. Currently, the Company’s portfolio consists of investments in ten hotel properties, comprising 2,786 rooms, as well as interests in two condominium hotels and their associated rental programs. The Company owns hotels that operate under the Hilton Worldwide and Hyatt Hotels Corporation brands, as well as independent hotels. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit
www.sotherlyhotels.com
.
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