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

Zacks Investment Research cut shares of Braemar Hotels & Resorts (NYSE:BHRGet Rating) from a strong-buy rating to a hold rating in a research report report published 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. “

BHR has been the topic of a number of other reports. Oppenheimer assumed coverage on Braemar Hotels & Resorts in a research note on Thursday, April 21st. They issued an outperform rating and a $9.00 target price on the stock. StockNews.com assumed coverage on shares of Braemar Hotels & Resorts in a research note on Thursday, March 31st. They set a hold rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Braemar Hotels & Resorts currently has a consensus rating of Buy and an average target price of $9.35.

BHR stock opened at $5.98 on Tuesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.30 and a quick ratio of 3.30. The company has a market capitalization of $390.79 million, a PE ratio of -7.38 and a beta of 2.48. Braemar Hotels & Resorts has a 1 year low of $4.18 and a 1 year high of $7.25. The company has a fifty day moving average of $5.99.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Wednesday, March 30th. Braemar Hotels & Resorts’s payout ratio is currently -4.94%.

In other news, CAO Mark Nunneley bought 9,000 shares of the stock in a transaction that occurred on Wednesday, March 30th. The shares were purchased at an average cost of $22.50 per share, with a total value of $202,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Deric S. Eubanks sold 31,241 shares of Braemar Hotels & Resorts stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $5.66, for a total value of $176,824.06. The disclosure for this sale can be found here. 4.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its stake in Braemar Hotels & Resorts by 175.2% in the 3rd quarter. Citigroup Inc. now owns 6,095 shares of the company’s stock worth $30,000 after purchasing an additional 3,880 shares in the last quarter. First Trust Advisors LP purchased a new position in Braemar Hotels & Resorts in the 4th quarter worth about $52,000. Squarepoint Ops LLC purchased a new position in Braemar Hotels & Resorts in the 3rd quarter worth about $57,000. Daiwa Securities Group Inc. purchased a new position in Braemar Hotels & Resorts in the 3rd quarter worth about $64,000. Finally, ProShare Advisors LLC acquired a new stake in Braemar Hotels & Resorts during the 4th quarter worth about $64,000. 68.99% of the stock is currently owned by hedge funds and other institutional investors.

Braemar Hotels & Resorts Company Profile (Get Rating)

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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