Sotherly Hotels: Q2 Earnings Snapshot
By AP News
Published - Aug 13, 2024, 06:38 AM ET
Last Updated - Aug 13, 2024, 06:38 AM EDT
WILLIAMSBURG, Va. (AP) — WILLIAMSBURG, Va. (AP) — Sotherly Hotels Inc. (SOHO) on Tuesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Williamsburg, Virginia, said it had funds from operations of $7.4 million, or 37 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 net income of $2.6 million, or 13 cents per share.
