Jones Road Capital Management L.P. Cuts Stock Position in BRAEMAR HOTELS & RESORTS INC. $BHR

Key Points

• Jones Road Capital Management L.P. sold 1,190,744 shares of BRAEMAR HOTELS & RESORTS INC., reducing its stake by 55% to 973,000 shares, which now represent 1.5% of its total holdings.
• A quarterly dividend of $0.05 per share was announced, translating to an annualized yield of 9.4%, with the dividend to be paid on October 15th.
• Recent analyst ratings upgraded BRAEMAR HOTELS & RESORTS from a "sell" to a "hold" rating, indicating a potentially more positive outlook for the stock.

Jones Road Capital Management L.P. reduced its stake in BRAEMAR HOTELS & RESORTS INC. (NYSE:BHR - Free Report) by 55.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 973,000 shares of the company's stock after selling 1,190,744 shares during the period. BRAEMAR HOTELS & RESORTS makes up 1.5% of Jones Road Capital Management L.P.'s portfolio, making the stock its 16th largest holding. Jones Road Capital Management L.P. owned approximately 1.45% of BRAEMAR HOTELS & RESORTS worth $2,423,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in shares of BRAEMAR HOTELS & RESORTS by 214,767.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,345,069 shares of the company's stock worth $3,349,000 after purchasing an additional 1,344,443 shares during the period. Orvieto Partners L.P. purchased a new stake in BRAEMAR HOTELS & RESORTS during the fourth quarter valued at approximately $1,480,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in BRAEMAR HOTELS & RESORTS during the fourth quarter valued at approximately $1,440,000. Dark Forest Capital Management LP purchased a new stake in BRAEMAR HOTELS & RESORTS during the fourth quarter valued at approximately $360,000. Finally, Sowell Financial Services LLC purchased a new stake in BRAEMAR HOTELS & RESORTS during the first quarter valued at approximately $157,000. 64.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of BRAEMAR HOTELS & RESORTS from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th.

BRAEMAR HOTELS & RESORTS Stock Performance

Shares of NYSE:BHR traded up $0.1750 during midday trading on Friday, reaching $2.2450. The company's stock had a trading volume of 481,738 shares, compared to its average volume of 178,872. The firm has a market capitalization of $153.15 million, a PE ratio of -2.92 and a beta of 1.19. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 5.50. The stock has a fifty day moving average of $2.37 and a 200 day moving average of $2.38. BRAEMAR HOTELS & RESORTS INC. has a twelve month low of $1.80 and a twelve month high of $3.82.

BRAEMAR HOTELS & RESORTS (NYSE:BHR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). BRAEMAR HOTELS & RESORTS had a negative return on equity of 0.22% and a negative net margin of 0.07%.The firm had revenue of $179.08 million for the quarter, compared to analyst estimates of $166.80 million. On average, equities analysts expect that BRAEMAR HOTELS & RESORTS INC. will post 0.31 EPS for the current fiscal year.

BRAEMAR HOTELS & RESORTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Tuesday, September 30th. BRAEMAR HOTELS & RESORTS's payout ratio is presently -25.97%.

BRAEMAR HOTELS & RESORTS Profile

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).