WILLIAMSBURG, Va. (AP) — WILLIAMSBURG, Va. (AP) — Sotherly Hotels Inc. (SOHO) on Wednesday 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 $1.9 million, or 10 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 $2.7 million, or 14 cents per share.
The real estate investment trust, based in Williamsburg, Virginia, posted revenue of $42.1 million in the period.
For the year, the company reported funds from operations of $13.2 million. Revenue was reported as $173.8 million.
Sotherly Hotels expects full-year funds from operations in the range of 64 cents to 69 cents per share, with revenue in the range of $179 million to $182.6 million.
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