WILLIAMSBURG, Va. (AP) _ Sotherly Hotels Inc. (SOHO) on Tuesday reported a key measure of profitability in its third quarter.
The Williamsburg, Virginia-based real estate investment trust said it had funds from operations of $1.7 million, or 11 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 $1.6 million, or 11 cents per share.
The real estate investment trust posted revenue of $36.8 million in the period.
Sotherly Hotels expects full-year funds from operations in the range of 90 cents to 94 cents per share, with revenue in the range of $152.3 million to $153 million.
The company's shares have fallen nearly 4 percent since the beginning of the year. The stock has increased 36 percent in the last 12 months.