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In a challenging economic climate, MHI Hospitality Corporation (SOHO) stock has touched a 52-week low, dipping to $0.85, with an InvestingPro analysis indicating the stock is currently trading below its Fair Value. The company maintains a "GOOD" overall financial health score of 2.54 out of 5, despite market pressures. This latest price level reflects a significant downturn for the company, which has seen its stock value decrease by 38.04% over the past year. With a beta of 1.57 and notable price volatility, investors are closely monitoring SOHO as it navigates through the headwinds affecting the broader market, with particular attention being paid to the company's strategic moves to recover from this low point. The 52-week low serves as a critical indicator for both the company's performance and investor sentiment, as market participants consider the potential for a rebound or further decline in the coming months. For deeper insights into SOHO's valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which includes 13 additional key insights about the company's outlook.
In other recent news, Sotherly Hotels (NASDAQ:SOHO) Inc. reported a moderate rise in its third-quarter revenue, reaching approximately $40.7 million, a 3.9% increase from the previous year. Despite facing challenges from Hurricane Helene, the hospitality brand saw a 6.8% year-over-year increase in Hotel EBITDA, which stood at about $8.1 million. However, the company's Adjusted FFO for the quarter showed a deficit of $350,000.
Occupancy rates improved significantly with a 7.8% rise year-over-year, although the average daily rate saw a 3.4% decline. The company remains positive about its urban market recovery, particularly in Houston and Philadelphia. In terms of property improvements, Sotherly Hotels successfully refinanced its Jacksonville hotel.
Looking ahead, the company's full-year 2024 total revenue is projected to be between $177.8 million and $180.1 million. The Hotel EBITDA is expected to reach between $45 million and $45.6 million. Adjusted FFO is forecasted to be between $12.8 million and $13.4 million. These are recent developments and the next quarterly update is anticipated to provide further insights into the company's progress.
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