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

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Braemar Hotels & Resorts (NYSE:BHR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 brokerages also recently weighed in on BHR. 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. B. Riley raised shares of Braemar Hotels & Resorts to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, October 9th. Finally, ValuEngine raised shares of 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 assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.33.

Shares of Braemar Hotels & Resorts stock opened at $8.92 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.89 and a quick ratio of 1.89. Braemar Hotels & Resorts has a fifty-two week low of $7.89 and a fifty-two week high of $14.03. The firm has a fifty day moving average price of $9.19 and a two-hundred day moving average price of $9.25. The company has a market cap of $290.38 million, a PE ratio of 6.79 and a beta of 1.11.

Braemar Hotels & Resorts (NYSE:BHR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.20). Braemar Hotels & Resorts had a negative net margin of 5.86% and a negative return on equity of 7.26%. The company had revenue of $118.88 million during the quarter, compared to the consensus estimate of $116.33 million. Analysts expect that Braemar Hotels & Resorts will post 1.23 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Braemar Hotels & Resorts by 34.4% during the 2nd quarter. Invesco Ltd. now owns 1,020,434 shares of the company’s stock worth $10,102,000 after acquiring an additional 261,429 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Braemar Hotels & Resorts by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 792,175 shares of the company’s stock worth $7,843,000 after acquiring an additional 17,266 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Braemar Hotels & Resorts by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 563,589 shares of the company’s stock worth $5,580,000 after acquiring an additional 4,877 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Braemar Hotels & Resorts by 29.5% during the 2nd quarter. AQR Capital Management LLC now owns 421,976 shares of the company’s stock worth $4,178,000 after acquiring an additional 96,169 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Braemar Hotels & Resorts by 3.0% during the 2nd quarter. Northern Trust Corp now owns 394,916 shares of the company’s stock worth $3,909,000 after acquiring an additional 11,323 shares during the period. 71.99% 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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