Braemar Hotels & Resorts Inc Stock Price, News & Analysis

Braemar Hotels & Resorts (NYSE: BHR) has successfully closed a $363 million refinancing deal covering five luxury properties. The new loan features a two-year initial term with three one-year extension options, potentially extending to 2030, and carries a floating interest rate of SOFR + 2.52%.

The refinancing encompasses The Clancy, The Notary Hotel, Marriott Seattle Waterfront, Sofitel Chicago Magnificent Mile, and The Ritz-Carlton Reserve Dorado Beach. The loan amount represents a 48.9% loan-to-value ratio, with the properties collectively appraised at $742.2 million.

This strategic move replaces two existing loans: a $293.2 million facility at SOFR + 2.66% maturing in June 2025 and a $62 million loan at SOFR + 4.75% due in March 2026. The refinancing addresses BHR's final 2025 debt maturity while securing more favorable interest terms and extending the weighted average maturity of its debt portfolio.

Braemar Hotels & Resorts (NYSE: BHR) has released its tax reporting information for 2024 distributions on common and preferred shares. The company's common stock distributions amounted to $0.20 per share, classified as 100% ordinary taxable dividend. For preferred shares, distributions varied by series, with Series B at $1.3752, Series D at $2.0624, and Series E at $1.8750 per share. Multiple Series M preferred stock distributions ranged from $2.0729 to $2.1104 per share.

All preferred share distributions followed a consistent tax treatment pattern: approximately 75.51% as capital gain distribution and 24.49% as return of capital. The distributions paid on January 16, 2024, to stockholders of record as of December 29, 2023, are reportable in 2024, while distributions paid on January 15, 2025, will be reportable in 2025.

Braemar Hotels & Resorts (NYSE: BHR) has successfully extended its mortgage loan for the 170-room Ritz-Carlton Lake Tahoe. The loan, which was set to mature in January 2025, now has a final maturity date in January 2026. The extension includes a $10 million paydown and features a reduced spread of SOFR + 3.25%.

The company is also actively engaging with lenders regarding a $293.2 million loan due in June 2025. CEO Richard Stockton expressed optimism about improving conditions in the hotel lending market and potential future financing opportunities.

Braemar Hotels & Resorts (NYSE: BHR) has announced its dividend declarations for the first quarter of 2025. The Board declared a quarterly cash dividend of $0.05 per share for common stock, payable on April 15, 2025, to stockholders of record as of March 31, 2025, representing an annual rate of $0.20 per share.

The company also declared dividends for its preferred stock series: 5.5% Series B ($0.3438 per share), 8.25% Series D ($0.5156 per share), Series E ($0.15625 monthly), and Series M ($0.17708 or $0.17500 monthly, depending on CUSIP). As of December 31, 2024, there were 14,910,521 shares of Series E and 1,476,621 shares of Series M Redeemable Preferred Stock outstanding.

Braemar Hotels & Resorts (NYSE: BHR), a REIT specializing in luxury hotels and resorts, has announced its schedule for the fourth quarter 2024 earnings release and conference call. The company will release its Q4 results after market close on Wednesday, February 26, 2025.

A conference call will be held the following day, Thursday, February 27, 2025, at 11:00 a.m. ET. Investors can join the interactive teleconference by calling (646) 960-0284. A replay will be available through March 6, 2025, via (609) 800-9909 using confirmation number 2925607.

The quarterly conference call will also be broadcast live on the company's website, www.bhrreit.com, with an online replay available for approximately one year.

Braemar Hotels & Resorts Inc. (NYSE: BHR) has announced the addition of Jay Shah to its Board of Directors as a new independent director. Shah, 56, brings extensive experience in the hospitality and real estate sectors, having served in various executive roles at Hersha Hotels & Resorts, including as CEO for 17 years and most recently as Executive Chairman.

Shah's background includes significant involvement in industry associations and educational institutions. He serves on Cornell University's Dean's Advisory Board for the School of Hotel Administration and is a member of the American Hotel & Lodging Association's Board of Directors. Shah holds degrees from Cornell University, Temple University Fox School of Business, and Temple University Beasley School of Law.

Braemar's Chairman, Monty J. Bennett, expressed enthusiasm for Shah's appointment, citing his valuable experience in both the lodging industry and public company matters.

Braemar Hotels & Resorts (NYSE: BHR) has announced its dividend declarations for the fourth quarter of 2024. The Board of Directors declared a quarterly cash dividend of $0.05 per diluted share for common stock, payable on January 15, 2025. This equates to an annual rate of $0.20 per share. Additionally, dividends were declared for various preferred stock series:

- 5.5% Series B: $0.3438 per diluted share
- 8.25% Series D: $0.5156 per diluted share
- Series E: $0.15625 per share monthly
- Series M: $0.17708, $0.17500, or $0.17292 per share monthly, depending on CUSIP

All dividends will be paid to stockholders of record on their respective dates in December 2024 and January 2025. As of September 30, 2024, there were 15,138,572 shares of Series E and 1,596,285 shares of Series M Redeemable Preferred Stock outstanding.

Braemar Hotels & Resorts Inc. (NYSE: BHR) has announced the schedule for its third quarter 2024 earnings release and conference call. The company plans to release its financial results for the quarter ended September 30, 2024, after market close on Wednesday, November 6, 2024. A conference call to discuss the results is scheduled for Thursday, November 7, 2024, at 11:00 a.m. ET.

Investors can participate in the interactive teleconference by calling (646) 960-0284. A replay will be available until November 14, 2024, by dialing (609) 800-9909 with the confirmation number 2925607. Additionally, a live broadcast of the quarterly conference call will be accessible on the company's website, www.bhrreit.com, starting at 11:00 a.m. ET on November 7, 2024, with an online replay available for approximately one year.

Braemar Hotels & Resorts Inc. (NYSE: BHR) has successfully closed a $407 million refinancing involving five luxury hotels. The new loan offers a two-year initial term with three one-year extension options, potentially extending the final maturity to 2029. It features a floating interest rate of SOFR + 3.24% and is interest-only. By acquiring $42.2 million of the most junior tranche, Braemar effectively lowered its net spread on the remaining $364.8 million to SOFR + 3.01%.

This refinancing encompasses the Pier House Resort & Spa, Bardessono Hotel & Spa, Hotel Yountville, The Ritz-Carlton Sarasota, and The Ritz-Carlton St. Thomas. It replaces three existing loans with higher interest rates and earlier maturity dates. CEO Richard J. Stockton highlighted that this move results in a lower cost of capital, improves the company's maturity schedule, and extends its weighted average maturity.