Sotherly Hotels: Q2 Earnings Snapshot

August 11, 2022 GMT

WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Thursday 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 $6.2 million, or 33 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 $24.3 million, or $1.38 per share.

The real estate investment trust, based in Williamsburg, Virginia, posted revenue of $47.2 million in the period.

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