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In a challenging market environment, MHI Hospitality Corporation (SOHO) stock has touched a 52-week low, with shares plummeting to $0.81. With a market capitalization of just $16.3 million and EBITDA of $39.6 million over the last twelve months, InvestingPro analysis indicates the stock is currently trading below its Fair Value. This significant downturn reflects a broader trend for the company, which has seen its stock value decrease by 41.75% over the past year. Despite maintaining revenue growth of 4% and receiving a "GOOD" overall Financial Health score from InvestingPro, the company faces challenges. Investors are closely monitoring SOHO as it navigates through the headwinds that have led to this decline, with the hope that the company’s strategic initiatives may eventually steer it back towards a path of growth and recovery. For deeper insights, access 12 additional ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Sotherly Hotels (NASDAQ:SOHO) Inc. reported a 3.9% increase in Q3 2024 revenue, reaching $40.7 million, and a 6.8% year-over-year increase in Hotel EBITDA, which stood at approximately $8.1 million. Despite Hurricane Helene’s impact, the company experienced a 4.1% increase in RevPAR and a 7.8% rise in occupancy year-over-year. However, the average daily rate (ADR) declined by 3.4%. The company also reported a deficit of $350,000 in its adjusted FFO for the quarter.
Sotherly Hotels has made significant strides in its property improvement plans, including the successful refinancing of its Jacksonville hotel. The company anticipates full-year 2024 total revenue to be between $177.8 million and $180.1 million, with Hotel EBITDA expected to reach between $45 million and $45.6 million. Adjusted FFO is forecasted to be between $12.8 million and $13.4 million, or $0.65 to $0.68 per share.
These are among the recent developments for Sotherly Hotels, as the company continues to focus on growth opportunities in its key markets, particularly in Houston and Philadelphia. The next quarterly update is expected to provide further insights into the company’s progress and strategic initiatives.
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