On 16 October 2018, Braemar Hotels & Resorts, Inc. (NYSE: BHR) above/below +3.45% and ended at $+0.35. The stock’s market capitalization arrived at $394.853M and total traded volume was 135,291 shares. The stock has a 52-week highest price of $12.10 and its 52-week lowest price was called at $0.04. During last trade, its maximum trading price was registered $10.59 and it’s the minimum trading price was noted $10.14.
Braemar Hotels & Resorts Inc. (BHR) recently stated the following results and performance measures for the second quarter ended June 30, 2018. The performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Accessible Room (RevPAR), and Hotel EBITDA are comparable assuming each of the hotel properties in the Company’s hotel portfolio as of June 30, 2018 were owned as of the starting of each of the periods presented. Unless otherwise stated, all stated results compare the second quarter ended June 30, 2018, with the second quarter ended June 30, 2017 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
- Focused strategy of investing in luxury hotels and resorts
- Targets conservative leverage levels of 45% Net Debt to Gross Assets
- Highly-aligned management team and advisory structure
- Dividend yield of about 5.6%
FINANCIAL AND OPERATING HIGHLIGHTS
- Net income attributable to ordinary stockholders for the quarter was $9.8Mor $0.29 per diluted share
- Comparable RevPAR for all hotels not under renovation raised 4.5% to $247.65during the quarter
- Adjusted funds from operations (AFFO) was $0.56per diluted share for the quarter as contrast with $0.50 per diluted share from the previous year quarter, reflecting 12% growth
- Adjusted EBITDAre was $38.3Mfor the quarter, contrast with $33.7M for the previous year quarter, reflecting 14% growth
- During the quarter, the Company completed the acquisition of the 266-room Ritz-Carlton Sarasota in Sarasota, Floridafor $171M
- During the quarter, the Company completed the sale of the 293-room Renaissance Tampa International Plaza hotel in Tampa, Floridafor $68M
- During the quarter, the Company completed a $435Mrefinancing of two loans
- Capex invested during the quarter was $16.7M
UPDATE ON BUSINESS INTERRUPTION INCOME
During the second quarter of 2018, the Company recognized $5.2M of business interruption income for the Ritz-Carlton St. Thomas related to lost profits for the period of March 2018 through May 2018Because of the impact of Hurricane Irma.
Additionally, during the second quarter, the Company recorded $190,000 in business interruption income for the Bardessono Hotel and the Hotel Yountville related to lost profits for the period of January 2018 through March 2018Because of the impact of the Northern California wildfires and $3.3M in business interruption income for the Tampa Renaissance related to lost profits related to the BP Deepwater Horizon oil spill in the Gulf of Mexico in 2010.
The Company will continue to work with its insurers on the business interruption claims at the Ritz-Carlton St. Thomas and does not expect to receive any additional business interruption income associated with its other properties.
The short ratio in the company’s stock is documented at 3.92 and the short float is around of 2.70%. The average true range of the stock is observed at 0.36 and the relative strength index of the stock is recorded at 40.81. 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).