Verition Fund Management LLC Takes Position in Braemar Hotels & Resorts (NYSE:BHR)

Verition Fund Management LLC acquired a new position in Braemar Hotels & Resorts (NYSE:BHR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 22,082 shares of the company’s stock, valued at approximately $68,000.

Several other large investors also recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in Braemar Hotels & Resorts by 7.4% in the second quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock valued at $1,478,000 after purchasing an additional 40,100 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Braemar Hotels & Resorts by 154.7% in the 2nd quarter. Rhumbline Advisers now owns 393,108 shares of the company’s stock worth $1,002,000 after buying an additional 238,782 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Braemar Hotels & Resorts by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 257,138 shares of the company’s stock valued at $656,000 after buying an additional 6,140 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Braemar Hotels & Resorts during the 2nd quarter valued at $55,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Braemar Hotels & Resorts by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 797,972 shares of the company’s stock worth $2,035,000 after acquiring an additional 44,599 shares during the last quarter. Institutional investors own 64.79% of the company’s stock.

Braemar Hotels & Resorts Stock Performance

Shares of NYSE BHR opened at $3.47 on Wednesday. The stock’s 50-day moving average is $3.27 and its 200 day moving average is $3.13. The stock has a market cap of $230.83 million, a price-to-earnings ratio of -4.51 and a beta of 2.05. Braemar Hotels & Resorts has a 1-year low of $1.79 and a 1-year high of $3.95. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.44.

Braemar Hotels & Resorts (NYSE:BHR) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $148.40 million for the quarter, compared to the consensus estimate of $157.78 million. Braemar Hotels & Resorts had a negative net margin of 0.30% and a negative return on equity of 0.78%. During the same period last year, the firm posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Braemar Hotels & Resorts will post 0.43 EPS for the current fiscal year.

Braemar Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.76%. The ex-dividend date is Tuesday, December 31st. Braemar Hotels & Resorts’s dividend payout ratio is presently -25.97%.

Analyst Ratings Changes

Separately, StockNews.com raised Braemar Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th.

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).