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Braemar Hotels & Resorts
(NYSE:BHR)
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Rating:46Neutral
Price Target:
$1.50
â–¼(-26.83% Downside)
Action:Reiterated
Date:10/09/26
The score is held down primarily by weak/volatile financial performance (sharp TTM revenue decline, thin net profitability, and volatile free cash flow) and very bearish technicals (price below all major moving averages with negative MACD and deeply oversold RSI). Offsetting factors include positive corporate actions that may strengthen the balance sheet and lower costs, plus a high dividend yield, but these are not enough to overcome the financial/price-trend risks.
Positive Factors
Luxury lodging position
A luxury-focused portfolio with leading RevPAR indicates strong positioning in higher-quality lodging markets and supports pricing power. If this operating advantage persists, it can help sustain hotel-level margins, improve cash generation, and differentiate Braemar from more economically sensitive lodging owners.
Negative Factors
Weak earnings durability
The sharp revenue contraction and limited bottom-line profitability indicate that reported earnings remain fragile despite positive operating-level margins. Several loss-making years reduce confidence in sustainable earnings power and could constrain internal funding for renovations, portfolio investment, and shareholder distributions over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Luxury lodging position
A luxury-focused portfolio with leading RevPAR indicates strong positioning in higher-quality lodging markets and supports pricing power. If this operating advantage persists, it can help sustain hotel-level margins, improve cash generation, and differentiate Braemar from more economically sensitive lodging owners.
Read all positive factors
Braemar Hotels & Resorts (BHR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$83.10M
Dividend Yield16.53%
Average Volume (3M)504.82K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth-3.84%
EPS Growth4.89%
CountryUS
Employees116
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)-0.41
Shares Outstanding68,679,320
10 Day Avg. Volume565,811
30 Day Avg. Volume504,821
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.39
Price to Sales (P/S)0.28
P/FCF Ratio-5.23
Enterprise Value/Market Cap13.65
Enterprise Value/Revenue1.65
Enterprise Value/Gross Profit27.44
Enterprise Value/Ebitda6.39
Forecast
1Y Price Target
$2.00Price Target Upside-2.44% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-1.8
Revenue Forecast (FY)$585.07M
Braemar Hotels & Resorts Business Overview & Revenue Model
Company Description
Braemar Hotels & Resorts operates as a real estate investment trust (REIT), primarily dedicating its resources to the acquisition and development of high-end hotel and resort properties....
How the Company Makes Money
BHR makes money primarily through hotel-level operating income generated by its owned properties and, at the corporate level, through REIT-related real estate ownership economics.
Key revenue streams (at the property level) typically include:
- R...
Braemar Hotels & Resorts Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call conveyed solid operational momentum in 2025—notably within the resort portfolio, group and ancillary revenue growth, strategic asset repositionings and a material 2025 capex program—supported by successful asset sale and partial deleveraging actions. However, Q4 produced a net loss and a slight negative AFFO, renovation and weather disruptions constrained near-term results, and the balance sheet still carries significant floating-rate debt and strategic uncertainty due to an ongoing sale process and no declared common dividend for 2026. Overall, operational positives are meaningful but balanced by financial losses, interest-rate exposure and transactional uncertainty.Positive Updates
Comparable Revenue and EBITDA Growth
Comparable total revenue grew 1.8% in Q4 2025 and 2.8% for full year 2025; adjusted EBITDAre was $28.8M for Q4 and $147.0M for the full year, reflecting improved operating profitability.
Negative Updates
Net Losses and Q4 AFFO Shortfall
Reported a net loss attributable to common stockholders of $46.0M in Q4 2025 (–$0.67 per diluted share) and a full-year net loss of $72.7M (–$1.07 per diluted share). Q4 AFFO per diluted share was negative $0.02, though full-year AFFO was $0.28.
Read all updates
Q4-2025 Updates
Positive
Negative
Comparable Revenue and EBITDA Growth
Comparable total revenue grew 1.8% in Q4 2025 and 2.8% for full year 2025; adjusted EBITDAre was $28.8M for Q4 and $147.0M for the full year, reflecting improved operating profitability.
Read all positive updates
Company Guidance
Management’s forward-looking guidance was limited but specific: they plan $25–$35 million of capital expenditures in 2026 (after ~$78 million invested in 2025), expect to continue redeeming non‑traded preferred stock (already redeemed $149 million, ~32% of the original raise) as part of a deleveraging strategy tied to an ongoing company sale process (no timetable) and therefore have not set a common dividend policy for 2026; recent transactional and balance‑sheet metrics supporting that guidance include the $115 million Clancy sale ($280k per key) that funded ~$65 million of debt paydown and ~$44 million of net proceeds, quarter‑end cash of $124.4 million plus $42.5 million restricted cash, $1.1 billion of loans with a blended interest rate of 6.7% (≈14% effectively fixed, ≈86% floating), total assets of ~$1.9 billion, net debt to gross assets of ~46.7%, 3,028 rooms, and 73.3 million fully diluted shares; operational results cited to underpin the outlook included Q4 comparable RevPAR of $340 (flat), resort RevPAR of $536 (+4.1%) with resort hotel EBITDA of $32.5 million (+6%), full‑year adjusted EBITDAre of $147 million, and management’s expectation that completed and ongoing renovations will drive future performance.Braemar Hotels & Resorts Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
48
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 689.13M | 704.01M | 728.40M | 739.34M | 669.59M | 427.54M |
| Gross Profit | 41.35M | -8.01M | 153.68M | 168.47M | 164.49M | 82.88M |
| EBITDA | 177.60M | 165.11M | 227.91M | 160.03M | 154.15M | 73.59M |
| Net Income | -3.11M | -22.32M | -1.69M | -27.02M | 17.76M | -26.66M |
Balance Sheet | ||||||
| Total Assets | 1.66B | 1.86B | 2.14B | 2.23B | 2.40B | 1.88B |
| Cash, Cash Equivalents and Short-Term Investments | 97.67M | 124.35M | 135.82M | 88.45M | 261.54M | 216.00M |
| Total Debt | 801.06M | 1.17B | 1.23B | 1.22B | 1.39B | 1.23B |
| Total Liabilities | 1.18B | 1.34B | 1.41B | 1.41B | 1.96B | 1.46B |
| Stockholders Equity | 461.21M | 504.02M | 695.57M | 795.07M | 410.11M | 398.85M |
Cash Flow | ||||||
| Free Cash Flow | 4.28M | -37.13M | 66.82M | 84.64M | 109.48M | 38.31M |
| Operating Cash Flow | 45.45M | 40.78M | 66.82M | 84.71M | 109.48M | 63.95M |
| Investing Cash Flow | 358.97M | 209.63M | 35.51M | -77.07M | -402.22M | -41.68M |
| Financing Cash Flow | -388.20M | -268.63M | -83.77M | -156.84M | 345.06M | 127.95M |
Braemar Hotels & Resorts Technical Analysis
Negative
2.05
Price Trends
1.88
Negative
2.06
Negative
2.37
Negative
Market Momentum
-0.14
Positive
12.75
Positive
8.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHR, the sentiment is Negative. The current price of 2.05 is above the 20-day moving average (MA) of 1.67, above the 50-day MA of 1.88, and below the 200-day MA of 2.37, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 12.75 is Positive, neither overbought nor oversold. The STOCH value of 8.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BHR.
Braemar Hotels & Resorts Risk Analysis
Braemar Hotels & Resorts disclosed 99 risk factors in its most recent earnings report. Braemar Hotels & Resorts reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Braemar Hotels & Resorts Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $633.76M | 114.85 | 1.64% | 2.87% | -3.14% | 197.81% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $734.18M | -26.46 | -0.84% | 5.26% | 1.24% | -143.19% | |
47 Neutral | $925.99M | -0.93 | -65.18% | 2.80% | -12.04% | -75.70% | |
46 Neutral | $83.10M | -5.87 | -0.75% | 16.53% | -3.84% | 4.89% | |
42 Neutral | $14.04M | -0.15 | 16.69% | 1.07% | -5.78% | 66.72% |
* Real Estate Sector Average
BHR
Braemar Hotels & Resorts
1.21
-1.33
-52.36%
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CLDT
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13.61
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AHT
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Braemar Hotels & Resorts Corporate Events
Regulatory Filings and ComplianceShareholder Meetings
Braemar Hotels Prepares Proxy Fight for 2026 Meeting
Neutral
Oct 8, 2026
Braemar Hotels Resorts Inc. announced that it plans to file a proxy statement and associated GOLD proxy card with the SEC in connection with the solicitation of proxies for its 2026 Annual Meeting of Stockholders. The company highlighted that det...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Braemar Advances Self-Managed REIT Transition with Asset Sales
Positive
Oct 8, 2026
Braemar Hotels Resorts on October 8, 2026, detailed a sweeping reshaping of its portfolio and 2027 outlook after closing the sales of several luxury properties, including Ritz-Carlton Sarasota, Hotel Yountville, Bardessono Hotel and Spa, and Pier...
Business Operations and StrategyM&A Transactions
Braemar Hotels to Sell Scottsdale Four Seasons Resort
Neutral
Sep 29, 2026
On September 23, 2026, Braemar Hotels Resorts Inc. agreed to sell the Four Seasons Resort Scottsdale at Troon North to Evergreen Acquisitions LLC for $372 million, with a $10 million non-refundable deposit received at signing. The deal, which rem...
Shareholder Meetings
Braemar Hotels Reschedules Date of 2026 Annual Meeting
Neutral
Sep 23, 2026
Braemar Hotels Resorts Inc. announced that it has rescheduled its 2026 Annual Meeting of Stockholders, which had originally been set for November 13, 2026. The company now plans to hold the 2026 Annual Meeting on December 21, 2026, shifting the t...
Regulatory Filings and ComplianceShareholder Meetings
Braemar Hotels Sets 2026 Shareholder Meeting and Deadlines
Neutral
Sep 4, 2026
On September 3, 2026, Braemar Hotels Resorts’ board set November 13, 2026 as the date for the company’s 2026 annual meeting of shareholders. The board also established September 30, 2026 as the record date, and set September 14, 2026 ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Braemar Hotels Sells Pier House Resort, Reduces Debt
Positive
Aug 17, 2026
On August 12, 2026, Braemar Hotels Resorts Inc. completed the sale of the 142-room Pier House Resort Spa in Key West, Florida, for $190 million in cash, or about $1.3 million per key, following an agreement signed on July 13, 2026. Including ant...
Business Operations and StrategyFinancial Disclosures
Braemar Hotels & Resorts Highlights Strong Q2 2026 Performance
Positive
Aug 5, 2026
On August 5, 2026, Braemar Hotels Resorts released an investor presentation providing a second-quarter 2026 earnings update. The materials highlighted that Braemar operates the highest RevPAR lodging REIT, with luxury and resort hotels contributi...
Dividends
Braemar Hotels Declares Third-Quarter Preferred Stock Dividends
Positive
Jul 24, 2026
On July 24, 2026, Braemar Hotels Resorts Inc. announced that its board declared third-quarter 2026 cash dividends on its 5.5% Series B Cumulative Convertible Preferred Stock and 8.25% Series D Cumulative Preferred Stock, both payable on October 1...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Braemar Hotels & Resorts Completes Major Hotel Divestitures
Positive
Jul 17, 2026
On July 14, 2026, Braemar Hotels Resorts completed the sale of The Ritz-Carlton Sarasota in Florida, Hotel Yountville in California, and the Bardessono Hotel and Spa in Yountville for approximately $432.7 million in cash, net of transfer taxes an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.