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WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Tuesday reported a key measure of profitability in its first quarter.
The Williamsburg, Virginia-based real estate investment trust said it had funds from operations of $4.8 million, or 31 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 $1.7 million, or 12 cents per share.
The real estate investment trust posted revenue of $47.4 million in the period.
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Sotherly Hotels expects full-year funds from operations in the range of $1.02 to $1.08 per share, with revenue in the range of $184.2 million to $187.1 million.
The company’s shares have climbed 28% since the beginning of the year. The stock has risen slightly more than 5% in the last 12 months.
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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