Verition Fund Management LLC Takes $68,000 Position in Braemar Hotels & Resorts (NYSE:BHR)

Verition Fund Management LLC purchased a new position in shares of Braemar Hotels & Resorts (NYSE:BHR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,082 shares of the company’s stock, valued at approximately $68,000.

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

Braemar Hotels & Resorts Price Performance

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

Braemar Hotels & Resorts (NYSE:BHR) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Braemar Hotels & Resorts had a negative net margin of 0.30% and a negative return on equity of 0.78%. The company had revenue of $148.40 million for the quarter, compared to analyst estimates of $157.78 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Research analysts anticipate that Braemar Hotels & Resorts will post 0.43 EPS for the current fiscal year.

Braemar Hotels & Resorts Announces Dividend

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

About Braemar Hotels & Resorts

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).