Sotherly Hotels (NASDAQ:SOHOB) Trading 17.3% Higher – Here’s What Happened

Sotherly Hotels Inc. (NASDAQ:SOHOB)’s share price traded up 17.3% during trading on Thursday . The stock traded as high as $16.00 and last traded at $15.36. 4,347 shares were traded during trading, a decline of 65% from the average session volume of 12,252 shares. The stock had previously closed at $13.10.

Sotherly Hotels Price Performance

The stock’s fifty day moving average is $17.41 and its two-hundred day moving average is $15.97.

Sotherly Hotels Company Profile

Sotherly Hotels, Inc is a publicly traded real estate investment trust (REIT) that invests in and owns a diversified portfolio of hospitality properties throughout the United States. Through its subsidiaries, the company holds interests in full-service and select-service hotels operating under major brand franchises, including Marriott, Hilton, Hyatt and IHG. Its core business activities encompass acquisition, financing, management and disposition of lodging assets, with a focus on generating stable income through long-term lease and management agreements.

Since its formation in early 2019, Sotherly Hotels has pursued a strategy of portfolio expansion and diversification by acquiring properties in key leisure and urban markets.