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 $10.04.
Maher commented:
“On Thursday evening (1/17), Braemar Hotels & Resorts (BHR) announced that it had closed on its acquisition of an adjacent parcel, for total consideration of $120.0M. In connection with the acquisition, Braemar entered into a new agreement with Ashford Inc. (AINC), its external manager, called the Program (or ERFP), in which Ashford Inc. will provide the purchase price of new acquisitions in the form of furniture, fixtures, and equipment (FF&E). This program is similar to the one Ashford Inc. established with Ashford Hospitality Trust (AHT) this past summer. The program reduces the cost of acquisitions for Braemar (increasing the IRR), while providing asset management growth and tax advantages for Ashford Inc.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -1.6% and a 48.0% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Government Properties Income Trust, and Senior Housing Properties Trust.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Braemar Hotels & Resorts Inc with a $14 average price target.
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Based on Braemar Hotels & Resorts Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.02 million. In comparison, last year the company had a net profit of $24.95 million.
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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.
