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WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Monday reported a loss in funds from operations in its second quarter, after reporting a profit in the same period a year earlier.
The real estate investment trust, based in Williamsburg, Virginia, said it had a funds from operations loss of $13.3 million, or 86 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 $17.1 million, or $1.20 per share.
The real estate investment trust posted revenue of $5.3 million in the period.
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The company’s shares closed at $2.29. A year ago, they were trading at $6.95.
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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