Piper Sandler Lowers Sotherly Hotels (NASDAQ:SOHO) Price Target to $1.50

Sotherly Hotels (NASDAQ:SOHO) had its target price lowered by Piper Sandler from $2.00 to $1.50 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Separately, StockNews.com initiated coverage on shares of Sotherly Hotels in a report on Sunday, September 1st. They issued a hold rating for the company.

Sotherly Hotels Stock Down 2.0 %

SOHO stock opened at $1.20 on Tuesday. The stock has a market capitalization of $23.72 million, a P/E ratio of -5.69 and a beta of 1.67. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 6.63. Sotherly Hotels has a 12 month low of $1.07 and a 12 month high of $1.88. The firm has a 50-day moving average price of $1.23 and a 200-day moving average price of $1.30.

Institutional Trading of Sotherly Hotels

An institutional investor recently raised its position in Sotherly Hotels stock. PSI Advisors LLC raised its stake in shares of Sotherly Hotels Inc. (NASDAQ:SOHO) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,519 shares of the real estate investment trust’s stock after acquiring an additional 11,944 shares during the period. PSI Advisors LLC owned about 0.59% of Sotherly Hotels worth $170,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 27.54% of the company’s stock.

Sotherly Hotels Company Profile

Sotherly Hotels Inc is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Sotherly may also opportunistically acquire hotels throughout the United States.