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Sotherly Hotels Inc. (MCL.F)

Frankfurt - Frankfurt Delayed price. Currency in EUR
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1.8600-0.0300 (-1.59%)
At close: 08:10AM CEST

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  • J
    Jeff
    What a painful stock to own. Good earnings, shoots to over $3, then collapses. Wow! Gotta hold this one multiple years.
  • J
    Jeff
    Since the last earnings report, I think the market now recognizes that the balance sheet is greatly improved, they are going to survive, there is a path forward to pay back owed preferred dividends, the hotel market is greatly recovered, and lastly and most importantly, there may be a path in the mid-term future to restore the common dividend. For may years this traded $6++/share. While we may not get there for a long time, I can see a path to $4 - $5/share once the divi is returned.
  • r
    robi
    I think SOHO is going to be ACQUIRED. It would be a GREAT acquisition for SANDALS Hotels and RESORTS and gets them listed as a PUBLIC Company.
  • r
    robi
    Someone is buying up shares!
  • r
    robi
    Wow...According to ZACK it looks like our "desperate" LOAN in June 2020 from Kemmons Wilson saw "full repayment and extinguishment"
  • r
    robi
    Who is buying? Or does someone know something!
  • W
    William
    Just read the terms of the new loan. It prevents distributions for Preferreds and common until it is paid off. Very disapointed. Confirmed with Investor realations. Looks like we will be waiting a while for any dividends from this company. Very overwight in SOHO, really hoping the vaccines are effective on the variants, or I'm in trouble.
  • J
    Jeff
    From SEC.gov filing yesterday. Would be great to know the specifics...

    On November 30, 2021, Raleigh Hotel Associates, LLC (the “Seller”), a Delaware limited liability company and an affiliate of Sotherly Hotels Inc. (“Sotherly” or the “Company”), a Maryland corporation and the sole general partner of Sotherly Hotels LP, a Delaware limited partnership (the “Operating Partnership”), entered into a real estate sale agreement (the “Agreement”) to sell the DoubleTree by Hilton Raleigh-Brownstone University hotel located in Raleigh, North Carolina (the “Hotel”) to CS Acquisition Vehicle, LLC, a Delaware limited liability company (the “Buyer”) for a purchase price of $42.0 million. The Company intends to use any net cash proceeds from the sale of the Hotel to repay the existing mortgage on the property, repay a portion of the secured notes with Kemmons Wilson, to make any required distribution on the Company’s preferred stock related to maintaining the Company’s REIT status, and for general corporate purposes.

    The closing of the sale of the Hotel is subject to various customary closing conditions, including the satisfactory completion of a diligence review of the Hotel, the accuracy of representations and warranties through closing, and conditions related to the termination of Hotel agreements and leases.
  • r
    robi
    The Share offering to pay down DEBT(repaying that $20 million dollar loan) is smart at this time it being the NFL/College/Baseball season has JUST started and our HOTELS will be FULL every weekend for the next 3 months. Some of our hotels are located as close as 9 mins from Major Stadiums. Go SOHO
  • J
    Jeff
    For those of you that listened to the conf call, if any... One of the last questions asked about accumulated and not-yet paid dividends. I think I heard that $14M of preferred shareholder dividends have gone unpaid. Does that mean they have to catch up on that $14M before dividends can be re-introduced to common shareholders?
  • J
    Jeff
    And they have sold yet another of their hotels... See sec.gov for the K-1 on 12/13. This time they look to clear around $11M'ish. I just can't understand why they don't announce these to the street. I know they are not closed yet and there is a due diligence period and such, but these activities are very significant news to a stock that has performed horrifically in '21.
  • b
    bucknaked
    I listen to the earnings call I like it a lot. You need to understand the type of company that to understand that once things get back to normal they'll bounce back. Happy here that they have enough liquidity to last till the end of the year at the very earliest and probably a lot longer without any more help
  • J
    Jeff
    Recommend listening to the replay of the earnings call. Bottom line - they are in the midst of a full recovery; bookings way up, esp. pre-bookings for H2; some locations performing better than others, esp. those that have less govt restrictions; they have some other debt to work through before resuming common dividends
  • J
    Jeff
    Should be an interesting earnings call on 3/3. Hopefully they will disclose the multiple asset sales to us and provide visibility as to what the money will be used for. I assume it will go to pay back some of the onerous debt they incurred during the pandemic. Should also be used to back-pay preferred dividends. This will open up the possibility of re-instating dividends to the common holders. Also interested to learn on current occupancy and rates. Airports are packed, people are travelling again, we should get visibility. And some forecasts. This company has just lacked transparency. Needs to change.
  • 5
    57Heaven
    Searched all weekend, trying to find the news on why is was up so much. Finally came across a stock chat where someone posted a merger proposition. Said it was insider information and nothing else about the merger in the news... anyone else hearing this?
  • J
    Jeff
    STR weekly data is exceptional. Rates at '19 levels, occupancy highest since 10/19.
  • J
    Jeff
    According to latest 10Q, $18.3M is owed to lender on this hotel. So if they sold for $42M, ~$24M is left. $14M I think is owed to preferred shareholders That leaves $10M I can't find a reference to Kemmons Wilson per se, so don't know what that it. But... all said, this may put them in a position to pay common dividends again in the next year or so, dependent upon a lot of things.
  • D
    David
    Sticking my neck out and giving my expectations before the report.

    I expext revenues for the q2 2021 to be 28-32 million, and that the share price will start its climb higher in the following days, barring any negative developments regarding covid and potential restrictions in the southern states.

    Analyst concenus is a loss of 0.37 USD per share, my estimats in earnings per share is a loss of 0,2 usd per share.

    Lets check back later today and see how my calculations panned out :)

    It's easy to be smart in arrears
  • r
    robi
    I have noticed we have about 8 Hotels located within an average of 18 Miles from Major NFL Stadiums. I called our Jacksonville, FL Hotel located 10 minutes from the Jaguars Hotels Saturday and they had NO rooms available $269 a night. Hang in there folks I am accumulating. This QTR should be much better because the NFL season has just started.