Sotherly Hotels Reiterates FY2024 Outlook: Adj. FFO $0.64-0.69 vs $0.66 Est; Revenue $178.952M-182.567M vs $182.50M Est
Portfolio Pulse from Benzinga Newsdesk
Sotherly Hotels has reiterated its FY2024 financial outlook, maintaining its adjusted FFO (Funds From Operations) projection at $0.64 to $0.69 per share, against an estimate of $0.66. The company expects total revenue to range between $178.952 million and $182.567 million, closely aligning with the estimated $182.5 million. Other key projections include a net income of $1.598 million to $2.593 million, a net loss available to common stockholders and unitholders between $6.377 million and $5.382 million, and a RevPAR (Revenue Per Available Room) of $117.16 to $119.52.
May 09, 2024 | 10:38 am
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Sotherly Hotels reiterates its FY2024 financial guidance, with adjusted FFO per share expected to be between $0.64 and $0.69, aligning with analyst estimates. Revenue forecasts are also in line with expectations, suggesting a stable outlook for the company.
The reiteration of Sotherly Hotels' FY2024 financial outlook, especially the adjusted FFO and revenue projections that closely match analyst estimates, indicates a stable financial position and operational performance. This stability is likely to maintain investor confidence in the short term, with no significant positive or negative impact expected on the stock price as the guidance aligns with market expectations.
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