Braemar Hotels & Resorts (NYSE:BHR) Rating Increased to Buy at B. Riley

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B. Riley upgraded shares of Braemar Hotels & Resorts (NYSE:BHR) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has $13.00 target price on the stock, down from their previous target price of $14.00. B. Riley also issued estimates for Braemar Hotels & Resorts’ Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.23 EPS, FY2019 earnings at $1.37 EPS, Q1 2020 earnings at $0.40 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.26 EPS, Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.37 EPS and FY2021 earnings at $1.38 EPS.

BHR has been the topic of a number of other research reports. ValuEngine upgraded YPF from a sell rating to a hold rating in a research report on Monday, June 24th. Zacks Investment Research upgraded DLH from a sell rating to a hold rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Braemar Hotels & Resorts presently has an average rating of Hold and an average target price of $14.50.

NYSE:BHR opened at $9.36 on Wednesday. The stock has a market capitalization of $307.78 million, a P/E ratio of 6.28 and a beta of 1.15. The stock’s fifty day moving average is $10.13. Braemar Hotels & Resorts has a 1 year low of $8.32 and a 1 year high of $14.03. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 2.96.

Braemar Hotels & Resorts (NYSE:BHR) last posted its earnings results on Wednesday, May 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.49). The company had revenue of $128.51 million for the quarter, compared to analysts’ expectations of $120.97 million. Braemar Hotels & Resorts had a negative return on equity of 0.97% and a negative net margin of 0.80%. Equities analysts forecast that Braemar Hotels & Resorts will post 1.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.84%. Braemar Hotels & Resorts’s dividend payout ratio (DPR) is presently 41.29%.

Several hedge funds have recently modified their holdings of BHR. JPMorgan Chase & Co. raised its position in shares of Braemar Hotels & Resorts by 29.7% in the first quarter. JPMorgan Chase & Co. now owns 937,553 shares of the company’s stock worth $11,447,000 after buying an additional 214,907 shares in the last quarter. Bank of Montreal Can raised its position in shares of Braemar Hotels & Resorts by 2,322.6% in the first quarter. Bank of Montreal Can now owns 165,755 shares of the company’s stock worth $2,024,000 after buying an additional 158,913 shares in the last quarter. IndexIQ Advisors LLC raised its position in shares of Braemar Hotels & Resorts by 498.0% in the first quarter. IndexIQ Advisors LLC now owns 146,030 shares of the company’s stock worth $1,783,000 after buying an additional 121,611 shares in the last quarter. BlackRock Inc. raised its position in shares of Braemar Hotels & Resorts by 4.4% in the fourth quarter. BlackRock Inc. now owns 2,373,342 shares of the company’s stock worth $21,194,000 after buying an additional 100,968 shares in the last quarter. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Braemar Hotels & Resorts in the fourth quarter worth $825,000. Institutional investors own 74.07% of the company’s stock.

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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