NJ State Employees Deferred Compensation Plan Takes Position in Braemar Hotels & Resorts (NYSE:BHR)

NJ State Employees Deferred Compensation Plan bought a new position in shares of Braemar Hotels & Resorts (NYSE:BHR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,300 shares of the company’s stock, valued at approximately $200,000. NJ State Employees Deferred Compensation Plan owned approximately 0.06% of Braemar Hotels & Resorts at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Invesco Ltd. grew its holdings in Braemar Hotels & Resorts by 34.4% during the 2nd quarter. Invesco Ltd. now owns 1,020,434 shares of the company’s stock valued at $10,102,000 after buying an additional 261,429 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in Braemar Hotels & Resorts during the 2nd quarter valued at $2,068,000. Prudential Financial Inc. grew its holdings in Braemar Hotels & Resorts by 26.7% during the 2nd quarter. Prudential Financial Inc. now owns 662,009 shares of the company’s stock valued at $6,554,000 after buying an additional 139,635 shares during the last quarter. LSV Asset Management grew its holdings in Braemar Hotels & Resorts by 11.4% during the 2nd quarter. LSV Asset Management now owns 1,288,796 shares of the company’s stock valued at $12,759,000 after buying an additional 132,291 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Braemar Hotels & Resorts by 29.5% during the 2nd quarter. AQR Capital Management LLC now owns 421,976 shares of the company’s stock valued at $4,178,000 after buying an additional 96,169 shares during the last quarter. 73.71% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on BHR. ValuEngine cut Braemar Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Deutsche Bank restated a “buy” rating and set a $17.00 price objective on shares of Braemar Hotels & Resorts in a report on Wednesday. B. Riley upgraded Braemar Hotels & Resorts to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, October 9th. Zacks Investment Research cut Braemar Hotels & Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, TheStreet cut Braemar Hotels & Resorts from a “c-” rating to a “d+” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.75.

Shares of BHR traded down $0.23 during trading hours on Friday, hitting $9.21. The stock had a trading volume of 66,787 shares, compared to its average volume of 192,813. The company’s fifty day simple moving average is $9.33 and its 200 day simple moving average is $10.05. The company has a debt-to-equity ratio of 3.16, a quick ratio of 2.22 and a current ratio of 1.89. Braemar Hotels & Resorts has a 12-month low of $7.89 and a 12-month high of $14.03. The firm has a market cap of $332.98 million, a P/E ratio of 5.94 and a beta of 1.12.

Braemar Hotels & Resorts (NYSE:BHR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $116.33 million. As a group, sell-side analysts predict that Braemar Hotels & Resorts will post 1.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date was Friday, September 27th. Braemar Hotels & Resorts’s payout ratio is 41.29%.

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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Institutional Ownership by Quarter for Braemar Hotels & Resorts (NYSE:BHR)

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