BRAEMAR HOTELS & RESORTS (NYSE:BHR) Shares Down 1.3% – Here’s Why

Shares of BRAEMAR HOTELS & RESORTS INC. (NYSE:BHR) were down 1.3% on Wednesday . The stock traded as low as $2.92 and last traded at $2.97. Approximately 445,941 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 388,914 shares. The stock had previously closed at $3.01.

Wall Street Analysts Forecast Growth

BHR has been the subject of several research analyst reports. Zacks Research downgraded BRAEMAR HOTELS & RESORTS from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BRAEMAR HOTELS & RESORTS in a report on Monday, December 29th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

BRAEMAR HOTELS & RESORTS Trading Down 1.3%

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 5.64. The stock has a market capitalization of $202.61 million, a PE ratio of -3.41 and a beta of 0.78. The stock has a 50 day moving average price of $2.83 and a 200-day moving average price of $2.67.

BRAEMAR HOTELS & RESORTS (NYSE:BHR) last posted its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The firm had revenue of $143.56 million during the quarter, compared to the consensus estimate of $142.62 million. BRAEMAR HOTELS & RESORTS had a negative net margin of 1.04% and a negative return on equity of 3.27%. Sell-side analysts expect that BRAEMAR HOTELS & RESORTS INC. will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On BRAEMAR HOTELS & RESORTS

Institutional investors and hedge funds have recently made changes to their positions in the business. Landmark Investment Partners L.P. bought a new stake in BRAEMAR HOTELS & RESORTS during the third quarter valued at approximately $2,110,000. Penserra Capital Management LLC bought a new stake in shares of BRAEMAR HOTELS & RESORTS during the 2nd quarter valued at $1,256,000. Arrowstreet Capital Limited Partnership grew its position in shares of BRAEMAR HOTELS & RESORTS by 120.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 822,847 shares of the company’s stock valued at $2,246,000 after acquiring an additional 450,234 shares during the period. Millennium Management LLC increased its stake in shares of BRAEMAR HOTELS & RESORTS by 631.7% in the 3rd quarter. Millennium Management LLC now owns 466,672 shares of the company’s stock worth $1,274,000 after purchasing an additional 402,895 shares in the last quarter. Finally, Penn Capital Management Company LLC bought a new position in BRAEMAR HOTELS & RESORTS in the 3rd quarter worth $804,000. Hedge funds and other institutional investors own 64.79% of the company’s stock.

About BRAEMAR HOTELS & RESORTS

Braemar Hotels & Resorts, Inc (NYSE:BHR) is a publicly traded equity real estate investment trust (REIT) focused on acquiring, owning and operating upper-upscale and luxury hotels and resorts. The company invests in a combination of direct fee interests and equity stakes in well-known branded properties, structuring its investments through long-term leases, ground leases and joint ventures. Braemar’s business model generates stable cash flows through base rent, percentage rent tied to property revenues and reimbursements for property operating expenses and capital improvements.

The company’s portfolio is strategically concentrated in primary urban and resort markets across the United States, including key destinations in California, Florida and the Northeast corridor.