Braemar Hotels & Resorts Inc Stock Price, News & Analysis

Braemar Hotels & Resorts (NYSE: BHR) announced a quarterly cash dividend for the second quarter of 2022 totaling $0.3438 per share on its 5.5% Series B Cumulative Convertible Preferred Stock and $0.5156 per share on its 8.25% Series D Cumulative Preferred Stock, both payable on July 15, 2022. Additionally, the Series E Redeemable Preferred Stock will pay a total of $0.50 per quarter, distributed monthly, with the first payment on May 16, 2022. The Series M Redeemable Preferred Stock will also pay a quarterly rate of $0.5125 per share.

Braemar Hotels & Resorts Inc. (BHR) anticipates first-quarter 2022 occupancy at approximately 55%, with an average daily rate of $597, leading to a RevPAR of around $328. This marks a 69% increase from Q1 2021 and 20% from Q1 2019. The recent acquisition of The Ritz-Carlton Reserve Dorado Beach is expected to enhance future RevPAR, potentially reaching $404 if it had been owned in March. Leisure demand remains strong, while corporate and group bookings are also increasing.

Braemar Hotels & Resorts (NYSE: BHR) announced its upcoming earnings release for the first quarter ending March 31, 2022. The earnings report will be issued after market close on May 4, 2022. Following this, a conference call is scheduled for May 5, 2022, at 11:00 a.m. ET, where participants can join by calling (201) 389-0920. A replay will be accessible until May 12, 2022, via (412) 317-6671, using confirmation number 13727684. Investors can also listen to the live broadcast on Braemar's website.

Braemar Hotels & Resorts (NYSE: BHR) has successfully completed the acquisition of the 96-room Dorado Beach, a Ritz-Carlton Reserve in Dorado, Puerto Rico, for approximately $193 million. This transaction, initially announced on December 27, 2021, also includes the income stream from fourteen luxury residential units participating in a rental management program.

The acquisition was financed through $104 million in cash, six million shares of common stock, and a $54 million mortgage assumption, valuing the share at $5.84.

On March 7, 2022, Braemar Hotels & Resorts Inc. (NYSE: BHR) announced the reinstatement of its quarterly cash dividend, set at $0.01 per diluted share for Q1 2022, translating to an annual rate of $0.04. This dividend will be payable on April 15, 2022, to shareholders on record by March 31, 2022. The company also established a quarterly dividend policy for 2022, intending to review it regularly based on financial performance. However, the board is not obligated to declare future dividends, making this a cautious approach amidst potential economic uncertainties.

Braemar Hotels & Resorts (NYSE: BHR) has successfully refinanced its mortgage for the 190-room Park Hyatt Beaver Creek Resort & Spa, maturing in April 2022. The new loan totals $70.5 million and features a two-year initial term with three one-year extension options, on an interest-only basis at a floating rate of SOFR + 2.86%. This refinancing eliminates the Company's only debt maturity in 2022, indicating stability in the debt capital markets for lodging assets. Company CEO Richard J. Stockton expressed satisfaction with maintaining the previous interest rate for the new financing.

Braemar Hotels & Resorts (NYSE: BHR) announced preliminary financial expectations for Q4 and the full year of 2021, estimating a net loss attributable to common stockholders between $(5.2) million to $(3.8) million for Q4, and $(41.0) million to $(39.6) million for the year.

Adjusted EBITDAre is expected to range from $28.7 million to $30.1 million for Q4, and $86.9 million to $88.3 million for the full year. Adjusted FFO is anticipated to be between $19.4 million to $20.8 million for Q4.

Final results will be published on February 24, 2022.

Ashford Securities, a subsidiary of Ashford, reported sales of $17.4 million in January 2022 for its Series E and M Redeemable Preferred Stock offerings by Braemar Hotels & Resorts. This strong performance was driven by institutional investors contributing approximately $15 million. Since its launch on July 9, 2021, Braemar has sold over $58 million of these stocks. Ashford Securities is backed by a syndicate of 26 broker-dealers and RIA firms, indicating solid interest in the investment products.

Braemar Hotels & Resorts (NYSE: BHR) announced the tax reporting details for 2021 distributions on its Series B, D, E, and M preferred shares. The Series B preferred stock received a total cash distribution of $1.3752 per share, while Series D received $2.0624 per share, Series E received $0.8330 per share, and Series M received $0.6832 per share. Notably, all distributions were classified as returns of capital, with 100% of the cash not taxable as dividends. The Company will post Form 8937 on its website to provide further details. Shareholders are advised to consult their tax advisors.