Jones Road Capital Management L.P. Sells 1,190,744 Shares of 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. lowered its stake in BRAEMAR HOTELS & RESORTS INC. (NYSE:BHR - Free Report) by 55.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 973,000 shares of the company's stock after selling 1,190,744 shares during the quarter. BRAEMAR HOTELS & RESORTS makes up 1.5% of Jones Road Capital Management L.P.'s investment portfolio, making the stock its 16th largest position. Jones Road Capital Management L.P. owned about 1.45% of BRAEMAR HOTELS & RESORTS worth $2,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of BRAEMAR HOTELS & RESORTS by 214,767.3% in the first quarter. Russell Investments Group Ltd. now owns 1,345,069 shares of the company's stock valued at $3,349,000 after acquiring an additional 1,344,443 shares during the period. Orvieto Partners L.P. purchased a new stake in BRAEMAR HOTELS & RESORTS in the 4th quarter worth approximately $1,480,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in BRAEMAR HOTELS & RESORTS in the 4th quarter worth approximately $1,440,000. Dark Forest Capital Management LP bought a new position in BRAEMAR HOTELS & RESORTS in the 4th quarter valued at $360,000. Finally, Sowell Financial Services LLC purchased a new position in shares of BRAEMAR HOTELS & RESORTS during the 1st quarter valued at $157,000. 64.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

BRAEMAR HOTELS & RESORTS Price Performance

Shares of NYSE BHR traded down $0.0450 during mid-day trading on Monday, reaching $2.2050. 65,485 shares of the company were exchanged, compared to its average volume of 266,596. The company's 50 day moving average price is $2.37 and its 200 day moving average price is $2.38. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 5.50. BRAEMAR HOTELS & RESORTS INC. has a 52 week low of $1.80 and a 52 week high of $3.82. The stock has a market capitalization of $150.42 million, a PE ratio of -2.86 and a beta of 1.19.

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

BRAEMAR HOTELS & RESORTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Tuesday, September 30th. BRAEMAR HOTELS & RESORTS's dividend payout ratio (DPR) is -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).