Braemar Hotels & Resorts Plans Quarterly Dividend of $0.05 (NYSE:BHR)

Braemar Hotels & Resorts (NYSE:BHR) announced a quarterly dividend on Wednesday, April 10th, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.05 per share on Monday, July 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date is Friday, June 28th.

Braemar Hotels & Resorts has a dividend payout ratio of -28.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Braemar Hotels & Resorts to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 40.8%.

Braemar Hotels & Resorts Price Performance

BHR stock opened at $2.52 on Thursday. The stock has a 50-day moving average price of $2.74 and a two-hundred day moving average price of $2.43. Braemar Hotels & Resorts has a 1 year low of $1.79 and a 1 year high of $4.16. The stock has a market cap of $167.52 million, a PE ratio of -2.25 and a beta of 1.96. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 4.14.

Wall Street Analysts Forecast Growth

Separately, B. Riley reduced their price objective on Braemar Hotels & Resorts from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 18th.

Braemar Hotels & Resorts Company Profile

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).