WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Wednesday reported a loss in a key measure in its first quarter.
The real estate investment trust, based in Williamsburg, Virginia, said it had a funds from operations loss of $5.2 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 a loss of $9.1 million, or 62 cents per share.
The real estate investment trust posted revenue of $22.6 million in the period.
The company’s shares closed at $3.24. A year ago, they were trading at $1.78.
The Associated Press