Braemar Hotels & Resorts (NYSE:BHR) Cut to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Braemar Hotels & Resorts (NYSE:BHR) from a buy rating to a hold rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Braemar Hotels & Resorts Inc. operates as a real estate investment trust. It focused on investing in luxury hotels and resorts. Braemar Hotels & Resorts Inc., formerly known as Ashford Hospitality Prime is based in Texas, United States. “

A number of other equities analysts have also recently weighed in on the company. B. Riley raised Braemar Hotels & Resorts to a buy rating and set a $13.00 price target for the company in a report on Wednesday, October 9th. Deutsche Bank reissued a buy rating and issued a $17.00 price target on shares of Braemar Hotels & Resorts in a report on Wednesday, November 6th. Finally, ValuEngine raised Braemar Hotels & Resorts from a sell rating to a hold rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $13.33.

BHR opened at $8.92 on Friday. The business’s fifty day moving average is $9.19 and its two-hundred day moving average is $9.25. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $293.34 million, a price-to-earnings ratio of 6.86 and a beta of 1.11. Braemar Hotels & Resorts has a one year low of $7.89 and a one year high of $14.03.

Braemar Hotels & Resorts (NYSE:BHR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.20). Braemar Hotels & Resorts had a negative return on equity of 7.26% and a negative net margin of 5.86%. The firm had revenue of $118.88 million for the quarter, compared to analysts’ expectations of $116.33 million. On average, analysts predict that Braemar Hotels & Resorts will post 1.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.17%. This is a boost from Braemar Hotels & Resorts’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, December 30th. Braemar Hotels & Resorts’s payout ratio is 41.29%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Braemar Hotels & Resorts by 36.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,716 shares of the company’s stock worth $51,000 after acquiring an additional 1,530 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Braemar Hotels & Resorts by 246.2% in the fourth quarter. State of Alaska Department of Revenue now owns 8,499 shares of the company’s stock worth $75,000 after acquiring an additional 6,044 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Braemar Hotels & Resorts by 45.6% in the third quarter. Squarepoint Ops LLC now owns 103,434 shares of the company’s stock worth $971,000 after acquiring an additional 32,417 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of Braemar Hotels & Resorts in the third quarter worth $192,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Braemar Hotels & Resorts by 12.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 159,185 shares of the company’s stock worth $1,495,000 after acquiring an additional 17,755 shares during the last quarter. 71.90% of the stock is owned by institutional investors.

Braemar Hotels & Resorts Company Profile

Braemar Hotels & Resorts is a conservatively capitalized REIT that invests primarily in high RevPAR, full-service luxury hotels and resorts. We are listed on the New York Stock Exchange under the symbol BHR and are externally-advised by Ashford (NYSE American: AINC).

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