Braemar Hotels & Resorts (NYSE:BHR) Stock Rating Lowered by Zacks Investment Research

Braemar Hotels & Resorts (NYSE:BHR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, 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 brokerages also recently issued reports on BHR. Robert W. Baird reissued a “hold” rating and issued a $8.00 price objective on shares of Braemar Hotels & Resorts in a research note on Friday, March 19th. Deutsche Bank Aktiengesellschaft upped their price target on Braemar Hotels & Resorts from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th. Finally, B. Riley raised Braemar Hotels & Resorts from a “neutral” rating to a “buy” rating in a research note on Monday, April 26th.

Shares of NYSE BHR traded up $0.02 during trading on Tuesday, reaching $6.92. The company had a trading volume of 1,808,403 shares, compared to its average volume of 574,264. The stock has a market cap of $284.58 million, a P/E ratio of -3.33 and a beta of 3.05. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 4.02. The company’s fifty day moving average price is $6.24 and its 200-day moving average price is $5.03. Braemar Hotels & Resorts has a 12 month low of $2.01 and a 12 month high of $7.45.

Braemar Hotels & Resorts (NYSE:BHR) last announced its quarterly earnings data on Wednesday, February 24th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.54). Braemar Hotels & Resorts had a negative net margin of 19.42% and a negative return on equity of 17.78%. As a group, equities analysts predict that Braemar Hotels & Resorts will post -0.91 earnings per share for the current year.

In other news, CEO Richard J. Stockton sold 213,606 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $6.62, for a total value of $1,414,071.72. Also, CFO Deric S. Eubanks sold 75,000 shares of the stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $6.90, for a total value of $517,500.00. Following the completion of the sale, the chief financial officer now directly owns 82,938 shares of the company’s stock, valued at $572,272.20. The disclosure for this sale can be found here. Corporate insiders own 9.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. CIBC World Markets Inc. grew its holdings in shares of Braemar Hotels & Resorts by 3.0% in the fourth quarter. CIBC World Markets Inc. now owns 293,000 shares of the company’s stock valued at $1,351,000 after acquiring an additional 8,500 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Braemar Hotels & Resorts by 114.5% in the fourth quarter. Bank of New York Mellon Corp now owns 36,581 shares of the company’s stock valued at $169,000 after acquiring an additional 19,530 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Braemar Hotels & Resorts by 6.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 321,000 shares of the company’s stock valued at $1,480,000 after acquiring an additional 20,000 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Braemar Hotels & Resorts in the fourth quarter valued at approximately $94,000. Finally, Citigroup Inc. grew its holdings in shares of Braemar Hotels & Resorts by 22,851.0% in the fourth quarter. Citigroup Inc. now owns 22,492 shares of the company’s stock valued at $104,000 after acquiring an additional 22,394 shares in the last quarter. 29.95% of the stock is owned by institutional investors.

About Braemar Hotels & Resorts

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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