Updates on Sotherly and Imperial

Sotherly Hotels Continues at a discount to assets

I did a brief write up on Imperial Petroleum ticker IMPP months ago. The stock went up 85% after my article. Many dry bulk shipping companies continue to see their stock prices gain and the industry ETF Breakwave Dry Bulk Shipping ticker BDRY has just hit new 52 week highs today. I mentioned in that article how the Baltic Dry Index had bottomed. It is off the highs currently but has maintained the uptrend so far.

Sotherly’s Hotels

Sotherly Hotels (SOHO) has continued to see its stock price fall even as major hotels like Hilton Hotels and Marriot stocks hit new highs. Sotherly has roughly $40 million in net tangible asset value. The current market cap going off the closing price Tuesday Feb. 2nd and with 19,696,805 shares outstanding is $27.1 million. So, the stock is trading for a 33% discount to net tangible assets. Buyers in the market supported the stock in the mid $1.30’s in December of last year and that proved to be the bottom for awhile. The stock has been hovering around the mid $1.30’s again and I suspect it could find support here again.

Disclosure: I don’t currently own any of these stocks but I may trade options or common stock in them in the near future.