WILLIAMSBURG, Va. (AP) — 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 $7.99 billion, or 41 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 $3.1 million, or 16 cents per share.
The real estate investment trust, based in Williamsburg, Virginia, posted revenue of $41.3 million in the period.
For the year, the company reported funds from operations of $17.8 million. Revenue was reported as $166.1 million.
For the current quarter ending in March, Sotherly Hotels expects its per-share funds from operations to range from 21 cents to 24 cents.
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