Braemar Hotels & Resorts (NYSE:BHR) Announces $0.05 Quarterly Dividend

Braemar Hotels & Resorts (NYSE:BHR - Get Free Report) declared a quarterly dividend on Wednesday, April 10th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.05 per share on Monday, July 15th. This represents a $0.20 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date of this dividend is Friday, June 28th.

Braemar Hotels & Resorts has a payout ratio of -23.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Braemar Hotels & Resorts to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 40.8%.

Braemar Hotels & Resorts Stock Performance

BHR stock traded up $0.13 on Thursday, reaching $2.53. The company's stock had a trading volume of 543,738 shares, compared to its average volume of 306,968. Braemar Hotels & Resorts has a 52 week low of $1.79 and a 52 week high of $4.37. The company has a debt-to-equity ratio of 3.93, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $168.30 million, a P/E ratio of -2.26 and a beta of 2.19. The firm has a fifty day moving average of $2.13 and a two-hundred day moving average of $2.35.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their price target on shares of Braemar Hotels & Resorts from $3.00 to $2.50 and set a "neutral" rating for the company in a research note on Monday, March 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BHR. Vanguard Group Inc. grew its position in Braemar Hotels & Resorts by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,399,117 shares of the company's stock worth $8,498,000 after buying an additional 20,236 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Braemar Hotels & Resorts by 48.6% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,497,320 shares of the company's stock worth $6,243,000 after acquiring an additional 817,280 shares during the last quarter. Millennium Management LLC raised its position in shares of Braemar Hotels & Resorts by 255.2% during the second quarter. Millennium Management LLC now owns 1,549,224 shares of the company's stock worth $6,646,000 after purchasing an additional 1,113,063 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Braemar Hotels & Resorts by 1.4% during the second quarter. Geode Capital Management LLC now owns 1,203,678 shares of the company's stock valued at $4,839,000 after purchasing an additional 16,461 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Braemar Hotels & Resorts by 1.3% in the 2nd quarter. State Street Corp now owns 1,158,406 shares of the company's stock valued at $4,714,000 after purchasing an additional 15,160 shares during the period. 64.79% of the stock is owned by institutional investors and hedge funds.

Braemar Hotels & Resorts Company 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).