Braemar Hotels & Resorts (BHR) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Braemar Hotels & Resorts (NYSE:BHR) from a sell rating to a hold rating in a report released on Tuesday.

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. “

BHR has been the subject of a number of other research reports. Robert W. Baird set a $11.00 price objective on Braemar Hotels & Resorts and gave the company a hold rating in a research note on Monday, November 19th. ValuEngine lowered Braemar Hotels & Resorts from a hold rating to a sell rating in a research note on Friday, November 2nd. B. Riley raised their price objective on Braemar Hotels & Resorts from $13.00 to $14.00 and gave the company a buy rating in a research note on Monday, August 6th. Finally, Deutsche Bank set a $15.00 price objective on Braemar Hotels & Resorts and gave the company a buy rating in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $13.50.

Shares of NYSE BHR opened at $9.97 on Tuesday. Braemar Hotels & Resorts has a fifty-two week low of $8.44 and a fifty-two week high of $12.10. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 2.69. The company has a market cap of $318.29 million, a price-to-earnings ratio of 5.93 and a beta of 0.83.

Braemar Hotels & Resorts (NYSE:BHR) last issued its quarterly earnings data on Wednesday, October 31st. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. Braemar Hotels & Resorts had a return on equity of 10.28% and a net margin of 9.08%. The firm had revenue of $108.85 million during the quarter, compared to analyst estimates of $110.46 million. Equities analysts expect that Braemar Hotels & Resorts will post 1.41 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Braemar Hotels & Resorts by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,286,735 shares of the company’s stock valued at $38,685,000 after purchasing an additional 195,469 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Braemar Hotels & Resorts in the 2nd quarter worth approximately $25,787,000. LSV Asset Management acquired a new position in shares of Braemar Hotels & Resorts in the 2nd quarter worth approximately $12,263,000. Renaissance Technologies LLC acquired a new position in shares of Braemar Hotels & Resorts in the 2nd quarter worth approximately $6,462,000. Finally, Millennium Management LLC acquired a new position in shares of Braemar Hotels & Resorts in the 2nd quarter worth approximately $5,939,000. Hedge funds and other institutional investors own 77.13% of the company’s stock.

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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