Sotherly Hotels (NASDAQ:SOHO) has released earnings for the quarter and year ending 12/31/2018.
Revenue was up nicely but net income was off and continued to show a loss–as expected. Given that SOHO is a REIT we look at Funds From Operations (FFO) rather than net income and it came in at 92 cents/share which is up from 80 cents/share last year.
The company pays a 12.5 cent common share dividend (50 cents on a annualized basis) so they easily cover the dividend–the dividend for last year was 100% return of capital.
We mention SOHO because of the 7.25% baby bond which matures in 2021 they have outstanding (SOHOK).
Disclosure–we own the SOHOK baby bonds.