Sotherly Hotels Inc. Announces Quarterly Preferred Dividends
Quarterly Cash Dividends Declared: Sotherly Hotels Inc. announced the authorization of quarterly cash dividends for its Series B, C, and D Preferred Stock, with payments scheduled for December 16, 2024, to shareholders of record as of November 29, 2024.
Company Overview: Sotherly Hotels Inc. is a lodging REIT focused on acquiring and renovating upscale hotels in the Southern U.S., currently owning ten hotel properties and interests in two condominium hotels.
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Sotherly Hotels Acquired by KWHP and Ascendant in Strategic Merger
- Merger Completion: KWHP and Ascendant successfully acquired Sotherly Hotels through their joint venture KW Kingfisher at a cash price of $2.25 per share, significantly enhancing both firms' hotel investment portfolios in the Southeastern U.S. markets.
- Shareholder Approval: Sotherly's shareholders unanimously approved the acquisition at a special meeting on January 22, 2026, indicating strong support for the strategic direction post-merger, which is expected to improve overall operational efficiency.
- Management Transition: Schulte Hospitality Group will assume operations of Sotherly's 10 full-service hotels and its single condo-hotel management agreement, leveraging its extensive industry experience to enhance guest experiences and drive business growth.
- Financing Support: Apollo and Ascendant provided debt financing commitments for the transaction, ensuring adequate funding for the joint venture and further solidifying KWHP and Ascendant's market position in high-quality hotel assets.
Kemmons Wilson Hospitality Partners and Ascendant Capital Partners Finalize Acquisition of Sotherly Hotels Inc.
Joint Venture Announcement: KEMMONS WILSON HOSPITALITY PARTNERS and ASCENDANT CAPITAL PARTNERS have formed a joint venture.
Acquisition Details: The joint venture has successfully completed the acquisition of Sotherly Hotels Inc.
Halper Sadeh LLC Urges QRVO, SOHO, and AWK Shareholders to Reach Out to the Firm Regarding Their Rights
Investigation of Companies: Halper Sadeh LLC is investigating Qorvo, Inc., Sotherly Hotels Inc., and American Water Works Company, Inc. for potential violations of federal securities laws and breaches of fiduciary duties to shareholders related to their recent transactions.
Details of Transactions: Qorvo is being sold to Skyworks Solutions for $32.50 in cash and shares, Sotherly Hotels is being sold to KW Kingfisher for $2.25 per share, and American Water is merging with Essential Utilities, with shareholders owning approximately 69% of the new entity.
Legal Rights for Shareholders: Shareholders of the involved companies are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options, with the firm offering services on a contingent fee basis.
Firm's Background: Halper Sadeh LLC represents global investors affected by securities fraud and corporate misconduct, having successfully implemented corporate reforms and recovered significant amounts for defrauded investors.
Gold Declines 3%; Carter's Stock Rises Following Q3 Earnings Report
U.S. Stock Market Performance: U.S. stocks saw gains, with the Dow Jones up 0.51%, NASDAQ rising 1.68%, and S&P 500 increasing by 1.01% on Monday.
Carter's Inc Earnings Report: Carter's Inc shares rose 5% after reporting third-quarter earnings of 74 cents per share, slightly above analyst expectations, but sales fell short of estimates.
Significant Stock Movements: Sotherly Hotels Inc shares surged 137% following an acquisition announcement, while Intellia Therapeutics and Organon & Co saw significant declines of 43% and 20%, respectively.
Global Market Trends: European and Asian markets closed higher, with notable gains in Japan's Nikkei 225 and Spain's IBEX 35, while commodities like oil and gold experienced slight fluctuations.
Nasdaq Rises by 300 Points; Keurig Dr Pepper Stock Soars Following Q3 Earnings Report
U.S. Stock Market Performance: U.S. stocks opened higher, with the Nasdaq Composite gaining over 300 points, while the Dow rose 0.41% and the S&P 500 increased by 0.82%. Information technology shares saw a 1.5% jump, but consumer staples stocks fell by 0.3%.
Keurig Dr Pepper's Financial Results: Keurig Dr Pepper Inc. shares surged around 6% after exceeding sales expectations for Q3 2025, reporting a 10.7% year-over-year sales increase and maintaining adjusted earnings per share at 54 cents.
Significant Stock Movements: Sotherly Hotels Inc. shares skyrocketed 137% following an acquisition announcement, while Co-Diagnostics, Inc. and BIO-key International, Inc. also saw substantial gains of 133% and 110%, respectively. Conversely, Intellia Therapeutics, Inc. and Genenta Science S.p.A. experienced significant declines of 42%.
Global Market Overview: European shares were mixed, with the eurozone's STOXX 600 slightly up, while Asian markets closed higher, led by Japan's Nikkei 225 gaining 2.46%. Commodity prices showed a slight decline in oil and gold, while copper rose by 0.8%.
Sotherly Hotels Stock Jumps Over 140% Following $2.25 Per Share Agreement
Acquisition Details: Sotherly Hotels Inc. is set to be acquired by a joint venture led by Kemmons Wilson Hospitality Partners and Ascendant Capital Partners, with a purchase price of $2.25 per share, representing a 153% premium over its recent closing price.
Board Approval and Leadership Insights: The acquisition received unanimous approval from Sotherly's board, with leadership highlighting the significant value for shareholders and the potential for future growth in the hotel portfolio.
Financing and Closing Timeline: The acquisition will be financed by affiliates of Apollo Global Management and Ascendant, and is expected to close in the first quarter of 2026, pending shareholder approval.
Market Reaction: Following the announcement, Sotherly's stock price surged by 141.49%, reflecting investor optimism about the acquisition.
Sotherly Hotels Acquired by KWHP and Ascendant in Strategic Merger
- Merger Completion: KWHP and Ascendant successfully acquired Sotherly Hotels through their joint venture KW Kingfisher at a cash price of $2.25 per share, significantly enhancing both firms' hotel investment portfolios in the Southeastern U.S. markets.
- Shareholder Approval: Sotherly's shareholders unanimously approved the acquisition at a special meeting on January 22, 2026, indicating strong support for the strategic direction post-merger, which is expected to improve overall operational efficiency.
- Management Transition: Schulte Hospitality Group will assume operations of Sotherly's 10 full-service hotels and its single condo-hotel management agreement, leveraging its extensive industry experience to enhance guest experiences and drive business growth.
- Financing Support: Apollo and Ascendant provided debt financing commitments for the transaction, ensuring adequate funding for the joint venture and further solidifying KWHP and Ascendant's market position in high-quality hotel assets.
Kemmons Wilson Hospitality Partners and Ascendant Capital Partners Finalize Acquisition of Sotherly Hotels Inc.
Joint Venture Announcement: KEMMONS WILSON HOSPITALITY PARTNERS and ASCENDANT CAPITAL PARTNERS have formed a joint venture.
Acquisition Details: The joint venture has successfully completed the acquisition of Sotherly Hotels Inc.
Halper Sadeh LLC Urges QRVO, SOHO, and AWK Shareholders to Reach Out to the Firm Regarding Their Rights
Investigation of Companies: Halper Sadeh LLC is investigating Qorvo, Inc., Sotherly Hotels Inc., and American Water Works Company, Inc. for potential violations of federal securities laws and breaches of fiduciary duties to shareholders related to their recent transactions.
Details of Transactions: Qorvo is being sold to Skyworks Solutions for $32.50 in cash and shares, Sotherly Hotels is being sold to KW Kingfisher for $2.25 per share, and American Water is merging with Essential Utilities, with shareholders owning approximately 69% of the new entity.
Legal Rights for Shareholders: Shareholders of the involved companies are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options, with the firm offering services on a contingent fee basis.
Firm's Background: Halper Sadeh LLC represents global investors affected by securities fraud and corporate misconduct, having successfully implemented corporate reforms and recovered significant amounts for defrauded investors.
Gold Declines 3%; Carter's Stock Rises Following Q3 Earnings Report
U.S. Stock Market Performance: U.S. stocks saw gains, with the Dow Jones up 0.51%, NASDAQ rising 1.68%, and S&P 500 increasing by 1.01% on Monday.
Carter's Inc Earnings Report: Carter's Inc shares rose 5% after reporting third-quarter earnings of 74 cents per share, slightly above analyst expectations, but sales fell short of estimates.
Significant Stock Movements: Sotherly Hotels Inc shares surged 137% following an acquisition announcement, while Intellia Therapeutics and Organon & Co saw significant declines of 43% and 20%, respectively.
Global Market Trends: European and Asian markets closed higher, with notable gains in Japan's Nikkei 225 and Spain's IBEX 35, while commodities like oil and gold experienced slight fluctuations.
Nasdaq Rises by 300 Points; Keurig Dr Pepper Stock Soars Following Q3 Earnings Report
U.S. Stock Market Performance: U.S. stocks opened higher, with the Nasdaq Composite gaining over 300 points, while the Dow rose 0.41% and the S&P 500 increased by 0.82%. Information technology shares saw a 1.5% jump, but consumer staples stocks fell by 0.3%.
Keurig Dr Pepper's Financial Results: Keurig Dr Pepper Inc. shares surged around 6% after exceeding sales expectations for Q3 2025, reporting a 10.7% year-over-year sales increase and maintaining adjusted earnings per share at 54 cents.
Significant Stock Movements: Sotherly Hotels Inc. shares skyrocketed 137% following an acquisition announcement, while Co-Diagnostics, Inc. and BIO-key International, Inc. also saw substantial gains of 133% and 110%, respectively. Conversely, Intellia Therapeutics, Inc. and Genenta Science S.p.A. experienced significant declines of 42%.
Global Market Overview: European shares were mixed, with the eurozone's STOXX 600 slightly up, while Asian markets closed higher, led by Japan's Nikkei 225 gaining 2.46%. Commodity prices showed a slight decline in oil and gold, while copper rose by 0.8%.
Sotherly Hotels Stock Jumps Over 140% Following $2.25 Per Share Agreement
Acquisition Details: Sotherly Hotels Inc. is set to be acquired by a joint venture led by Kemmons Wilson Hospitality Partners and Ascendant Capital Partners, with a purchase price of $2.25 per share, representing a 153% premium over its recent closing price.
Board Approval and Leadership Insights: The acquisition received unanimous approval from Sotherly's board, with leadership highlighting the significant value for shareholders and the potential for future growth in the hotel portfolio.
Financing and Closing Timeline: The acquisition will be financed by affiliates of Apollo Global Management and Ascendant, and is expected to close in the first quarter of 2026, pending shareholder approval.
Market Reaction: Following the announcement, Sotherly's stock price surged by 141.49%, reflecting investor optimism about the acquisition.
