Sotherly Hotels (NASDAQ:SOHOB) Shares Up 17.3% – Here’s Why

Sotherly Hotels Inc. (NASDAQ:SOHOB)’s stock price shot 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 mid-day trading, a decline of 65% from the average session volume of 12,252 shares. The stock had previously closed at $13.10.

Sotherly Hotels Stock Performance

The business’s 50 day simple moving average is $17.35 and its two-hundred day simple moving average is $16.00.

About Sotherly Hotels

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.