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WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Thursday reported a key measure of profitability in its fourth quarter.
The Williamsburg, Virginia-based real estate investment trust said it had funds from operations of $10.7 million, or 69 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 $14.7 million, or $1.02 per share.
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The real estate investment trust posted revenue of $14.6 million in the period.
For the year, the company reported funds from operations losses of $36.2 million, or $2.33 per share, swinging to a loss in the period. Revenue was reported as $71.5 million.
The company’s shares closed at $3.80. A year ago, they were trading at $5.14.
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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