Fintel reports that Bennett Monty J has filed a 13D/A form with the SEC disclosing ownership of 1.88MM shares of Braemar Hotels & Resorts Inc (BHR). This represents 2.5% of the company.

In their previous filing dated August 24, 2017 they reported 2.70MM shares and 7.87% of the company, a decrease in shares of 30.43% and a decrease in total ownership of 5.37% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 108.78% Upside

As of February 26, 2023, the average one-year price target for Braemar Hotels & Resorts is $10.25. The forecasts range from a low of $5.05 to a high of $15.75. The average price target represents an increase of 108.78% from its latest reported closing price of $4.91.

The projected annual revenue for Braemar Hotels & Resorts is $696MM, an increase of 3.95%. The projected annual EPS is -$0.24.

What is the Fund Sentiment?

There are 274 funds or institutions reporting positions in Braemar Hotels & Resorts. This is a decrease of 23 owner(s) or 7.74% in the last quarter. Average portfolio weight of all funds dedicated to BHR is 0.07%, a decrease of 27.40%. Total shares owned by institutions decreased in the last three months by 5.57% to 49,004K shares. The put/call ratio of BHR is 0.60, indicating a bullish outlook.

What are large shareholders doing?

Lsv Asset Management holds 2,367K shares representing 3.59% ownership of the company. In it’s prior filing, the firm reported owning 2,118K shares, representing an increase of 10.53%. The firm increased its portfolio allocation in BHR by 0.29% over the last quarter.

Davidson Kempner Capital Management holds 2,301K shares representing 3.49% ownership of the company. No change in the last quarter.

BDSIX – BlackRock Advantage Small Cap Core Fund Institutional Shares holds 2,175K shares representing 3.30% ownership of the company. In it’s prior filing, the firm reported owning 2,198K shares, representing a decrease of 1.03%. The firm decreased its portfolio allocation in BHR by 32.05% over the last quarter.

Zazove Associates holds 2,102K shares representing 3.18% ownership of the company. In it’s prior filing, the firm reported owning 1,998K shares, representing an increase of 4.91%. The firm increased its portfolio allocation in BHR by 2.80% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,098K shares representing 3.18% ownership of the company. No change in the last quarter.

Braemar Hotels & Resorts Declares $0.05 Dividend

On January 11, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of March 31, 2023 will receive the payment on April 17, 2023. Previously, the company paid $0.05 per share.

At the current share price of $4.91 / share, the stock’s dividend yield is 4.07%. Looking back five years and taking a sample every week, the average dividend yield has been 4.84%, the lowest has been 0.63%, and the highest has been 11.64%. The standard deviation of yields is 2.58 (n=142).

The current dividend yield is 0.30 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.74. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is -0.69%.

Braemar Hotels & Resorts Background Information
(This description is provided by the company.)

Braemar Hotels & Resorts Inc. operates as a real estate investment company. The Company acquires and invests in luxury hotels and resorts. Braemar Hotels & Resorts serves customers in the United States.

This article originally appeared on Fintel