Braemar Hotels & Resorts Inc (BHR)
NYSE:BHR
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Braemar Hotels & Resorts
(NYSE:BHR)
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Rating:52Neutral
Price Target:
$2.50
â–¼(-3.47% Downside)
Action:Reiterated
Date:06/06/26
The score is held back primarily by weaker revenue trends, ongoing net losses, and a debt-heavy balance sheet, despite positive TTM operating/free cash flow. Corporate actions (asset sale and near-term debt retirement) and a high dividend yield provide support, while technical signals remain neutral-to-soft.
Positive Factors
Operating & Free Cash Flow
Consistent positive TTM operating and free cash flow improves Braemar’s ability to fund capital needs, service preferred dividends, and absorb near-term volatility without immediate asset sales. Over 2–6 months this cash generation supports operational resilience and limited financial flexibility despite revenue pressure.
Negative Factors
Elevated Leverage
A debt-heavy capital structure leaves Braemar sensitive to interest rates, weakening equity cushions and reducing financial flexibility to withstand cyclical hotel downturns. Elevated leverage increases refinancing and covenant risk and limits ability to pursue accretive investments or withstand prolonged demand softness.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating & Free Cash Flow
Consistent positive TTM operating and free cash flow improves Braemar’s ability to fund capital needs, service preferred dividends, and absorb near-term volatility without immediate asset sales. Over 2–6 months this cash generation supports operational resilience and limited financial flexibility despite revenue pressure.
Read all positive factors
Braemar Hotels & Resorts (BHR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$171.70M
Dividend Yield7.17%
Average Volume (3M)632.51K
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth-3.86%
EPS Growth-11.52%
CountryUS
Employees116
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)-0.55
Shares Outstanding68,679,320
10 Day Avg. Volume378,644
30 Day Avg. Volume632,513
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)0.39
Price to Sales (P/S)0.28
P/FCF Ratio-5.23
Enterprise Value/Market Cap7.27
Enterprise Value/Revenue1.79
Enterprise Value/Gross Profit14.87
Enterprise Value/Ebitda7.44
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.8
Revenue Forecast (FY)$665.62M
Braemar Hotels & Resorts Business Overview & Revenue Model
Company Description
Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts....
How the Company Makes Money
Braemar makes money primarily by owning hotel real estate and earning property-level cash flow from hotel operations. Its key revenue stream is hotel operating revenue generated at its properties (most importantly room revenue from transient and g...
Braemar Hotels & Resorts Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 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
46
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 697.18M | 704.01M | 728.40M | 739.34M | 669.59M | 427.54M |
| Gross Profit | 84.02M | -8.01M | 153.68M | 168.47M | 164.49M | 82.88M |
| EBITDA | 167.87M | 165.11M | 227.91M | 160.03M | 154.15M | 73.59M |
| Net Income | -15.61M | -22.32M | -1.69M | -27.02M | 17.76M | -26.66M |
Balance Sheet | ||||||
| Total Assets | 1.85B | 1.86B | 2.14B | 2.23B | 2.40B | 1.88B |
| Cash, Cash Equivalents and Short-Term Investments | 92.74M | 124.35M | 135.82M | 88.45M | 261.54M | 216.00M |
| Total Debt | 1.17B | 1.17B | 1.23B | 1.22B | 1.39B | 1.23B |
| Total Liabilities | 1.35B | 1.34B | 1.41B | 1.41B | 1.96B | 1.46B |
| Stockholders Equity | 484.93M | 504.02M | 695.57M | 795.07M | 410.11M | 398.85M |
Cash Flow | ||||||
| Free Cash Flow | 27.46M | -37.13M | 66.82M | 84.64M | 109.48M | 38.31M |
| Operating Cash Flow | 47.58M | 40.78M | 66.82M | 84.71M | 109.48M | 63.95M |
| Investing Cash Flow | 197.46M | 195.34M | 35.51M | -77.07M | -402.22M | -41.68M |
| Financing Cash Flow | -232.53M | -254.35M | -83.77M | -156.84M | 345.06M | 127.95M |
Braemar Hotels & Resorts Technical Analysis
Positive
2.59
Price Trends
2.46
Positive
2.63
Negative
2.67
Negative
Market Momentum
>-0.01
Positive
50.61
Neutral
28.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHR, the sentiment is Positive. The current price of 2.59 is above the 20-day moving average (MA) of 2.51, above the 50-day MA of 2.46, and below the 200-day MA of 2.67, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 50.61 is Neutral, neither overbought nor oversold. The STOCH value of 28.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BHR.
Braemar Hotels & Resorts Risk Analysis
Braemar Hotels & Resorts disclosed 98 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $534.03M | 58.66 | 1.24% | 5.00% | -7.39% | -69.66% | |
67 Neutral | $696.06M | -47.96 | -1.46% | 6.61% | 0.26% | -233.17% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
52 Neutral | $171.70M | -10.96 | -3.38% | 7.17% | -3.86% | -11.52% | |
50 Neutral | $1.02B | ― | -38.18% | 2.31% | -8.19% | 24.63% | |
46 Neutral | $19.49M | -0.09 | 56.27% | ― | -4.46% | -34.66% |
* Real Estate Sector Average
BHR
Braemar Hotels & Resorts
2.50
0.12
5.09%
INN
Summit Hotel Properties
5.74
1.46
34.24%
SVC
Service Properties
1.57
-0.77
-32.99%
CLDT
Chatham Lodging
11.44
4.51
65.06%
AHT
Ashford Hospitality
3.01
-3.14
-51.06%
Braemar Hotels & Resorts Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Braemar Uses Asset Sale Proceeds to Retire Convertible Notes
Positive
Jun 1, 2026
On May 26, 2026, Braemar Hotels Resorts’ subsidiaries completed the sale of the 193-room Park Hyatt Beaver Creek Resort Spa in Avon, Colorado, for $176 million in cash, implying a 4.6% capitalization rate on trailing 12-month net operating...
Business Operations and StrategyExecutive/Board Changes
Braemar Hotels & Resorts Announces Board Refresh and Appointment
Neutral
May 28, 2026
On May 21, 2026, Braemar Hotels Resorts Inc. appointed Ashford Inc. Chief Operating Officer Eric Batis to its Board of Directors to serve until the next annual shareholders’ meeting, bringing his extensive background in hotel asset manageme...
Business Operations and StrategyRegulatory Filings and Compliance
Braemar Hotels Extends Advisory Agreement Fee Negotiation Period
Neutral
May 22, 2026
Ashford Inc. proposed, and the independent directors of Braemar Hotels Resorts Inc. agreed, to amend their existing advisory agreement, under which Ashford and its affiliate serve as advisors to Braemar. On May 21, 2026, the parties executed Amen...
Dividends
Braemar Hotels Declares Second-Quarter Preferred Stock Dividends
Positive
May 21, 2026
On May 21, 2026, Braemar Hotels Resorts announced that its board declared and set aside the May 2026 portion of second-quarter dividends for its 5.5% Series B Cumulative Convertible Preferred Stock and 8.25% Series D Cumulative Preferred Stock, w...
Business Operations and StrategyFinancial Disclosures
Braemar Highlights Strong Q1 2026 Luxury Hotel Growth
Positive
May 12, 2026
On May 12, 2026, Braemar Hotels Resorts released an investor presentation providing a first quarter 2026 earnings update that highlighted the continued expansion and performance of its luxury and upper upscale hotel portfolio. The presentation sh...
Business Operations and StrategyM&A Transactions
Braemar Sells Park Hyatt Beaver Creek to Reduce Debt
Positive
Apr 30, 2026
On April 27, 2026, Braemar’s subsidiaries Ashford BC LP and Ashford TRS BC LLC agreed to sell the 193-room Park Hyatt Beaver Creek Resort Spa in Avon, Colorado, to Apres Owner, LLC for $176 million in cash, or about $912,000 per key. The sa...
Dividends
Braemar Hotels & Resorts Announces Preferred Stock Dividends
Positive
Apr 23, 2026
On April 23, 2026, Braemar Hotels Resorts announced that its board declared and set aside the April 2026 portion of second-quarter dividends for its 5.5% Series B Cumulative Convertible Preferred Stock and 8.25% Series D Cumulative Preferred Stoc...
Business Operations and Strategy
Braemar Hotels Extends Long-Term Advisory Agreement Ten Years
Positive
Apr 3, 2026
On March 31, 2026, Braemar Hotels Resorts disclosed that its external advisor, Ashford Inc. together with Ashford Hospitality Advisors LLC, elected to extend the term of their Fifth Amended and Restated Advisory Agreement for an additional ten-ye...
Financial Disclosures
Braemar Affirms Estimated Liquidation Value of Preferred Stock
Neutral
Mar 26, 2026
As of December 31, 2025, Braemar Hotels Resorts obtained an independent opinion from Robert A. Stanger Co. on the liquidation value of its non-traded Series E and Series M Redeemable Preferred Stock. Stanger concluded that each series had an est...
Dividends
Braemar Hotels Declares March 2026 Preferred Stock Dividends
Positive
Mar 24, 2026
On March 24, 2026, Braemar Hotels Resorts Inc. announced that its board declared March 2026 monthly cash dividends on several preferred share classes, including its 5.5% Series B Cumulative Convertible Preferred Stock and 8.25% Series D Cumulativ...
Business Operations and StrategyExecutive/Board Changes
Braemar Hotels Updates Compensation Framework Under Advisory Agreement
Neutral
Mar 17, 2026
On March 13, 2026, Braemar Hotels Resorts Inc. entered into a limited waiver under its existing advisory agreement with its operating partnership, TRS, and external advisor Ashford, allowing the company, at its own expense and in its sole discret...
Business Operations and StrategyExecutive/Board Changes
Braemar Hotels & Resorts Announces CFO Transition Plan
Neutral
Mar 6, 2026
On March 5, 2026, Ashford Hospitality Advisors, a subsidiary of Ashford Inc., and Chief Financial Officer Deric Eubanks agreed that he would voluntarily terminate his employment effective March 31, 2026, ending his concurrent CFO roles at Ashford ...
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.