B.Riley FBR analyst Bryan Maher maintained a Buy rating on Braemar Hotels & Resorts Inc (BHR) today and set a price target of $14. The company’s shares opened today at $12.28.
Maher commented:
“Braemar Hotels & Resorts (BHR) reported 4Q18 results that came in short of our expectations. Adjusted EBITDAre was $20.3M, below our $22.2M estimate and the consensus estimate of $21.2M. AFFO/share came in at $0.15, also below our estimate of $0.20 and slightly below the consensus estimate of $0.16. The miss to our estimates was primarily driven by lighter than expected room revenue ($64.5M vs. our estimate of $70.6M), which was primarily driven by renovation disruption at several hotels. Specifically, of the company’s 12 properties, four were under renovation/repositioning during the quarter, impacting results. For the total portfolio comparable RevPAR growth came in at 3.2%, not bad, in fact one of the best we have seen thus far for 4Q18. However, it was below the uplift we had been expecting from recent acquisitions.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -1.1% and a 48.1% success rate. Maher covers the Financial sector, focusing on stocks such as Office Properties Income Trust, Community Healthcare Trust, and Ashford Hospitality Trust.
Braemar Hotels & Resorts Inc has an analyst consensus of Strong Buy, with a price target consensus of $16.50, a 34.4% upside from current levels. In a report issued on March 1, Deutsche Bank also maintained a Buy rating on the stock with a $19 price target.
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The company has a one-year high of $13.74 and a one-year low of $8.32. Currently, Braemar Hotels & Resorts Inc has an average volume of 191.8K.
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Braemar Hotels & Resorts, Inc. operates as a real estate investment trust which engages in investing services primarily in high RevPAR, luxury, upper-upscale and upscale hotels. Its hotel properties include Hilton La Jolla Torrey Pines, Capital Hilton in Washington DC, Marriott Plano Legacy Town Center, Seattle Marriott Waterfront, Courtyard San Francisco Downtown, Courtyard Seattle Downtown, Courtyard Philadelphia Downtown, and Renaissance Tampa International Plaza. The company was founded By Montgomery Jack Bennett on April 5, 2013 and is headquartered in Dallas, TX.
