Sotherly Hotels Reiterates FY2024 Outlook: Adj. FFO $0.64-0.69 vs $0.66 Est; Revenue $178.952M-182.567M vs $182.50M Est
$SOHO
Real Estate Investment Trusts
Real Estate
2024 Outlook
Set forth below is the Company's previously issued guidance for 2024. The table below reflects the Company's projections, within a range, of various financial measures for 2024, in thousands of dollars, except per share and RevPAR data:
| 2024 Guidance | ||||||
| Low Range | High Range | |||||
| Total revenue | $ | 178,952 | $ | 182,567 | ||
| Net income | 1,598 | 2,593 | ||||
| Net loss available to common stockholders and unitholders | (6,377 | ) | (5,382 | ) | ||
| EBITDA | 39,858 | 40,853 | ||||
| Hotel EBITDA | 46,103 | 46,898 | ||||
| FFO available to common stockholders and unitholders | 12,373 | 13,368 | ||||
| Adjusted FFO available to common stockholders and unitholders | 12,778 | 13,773 | ||||
| Net loss per share available to common stockholders | $ | (0.32 | ) | $ | (0.27 | ) |
| FFO per common share and unit | $ | 0.62 | $ | 0.67 | ||
| Adjusted FFO per common share and unit | $ | 0.64 | $ | 0.69 | ||
| Rev PAR | $ | 117.16 | $ | 119.52 | ||
| Hotel EBITDA margin | 25.8 | % | 25.7 | % | ||