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Braemar Hotels & Resorts

NYSE:BHR
Snowflake Description

Fair value second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BHR
NYSE
$379M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Braemar Hotels & Resorts is a conservatively capitalized REIT that invests primarily in high RevPAR, full-service luxury hotels and resorts. The last earnings update was 39 days ago. More info.


Add to Portfolio Compare Print
  • Braemar Hotels & Resorts has significant price volatility in the past 3 months.
BHR Share Price and Events
7 Day Returns
-0.1%
NYSE:BHR
0.5%
US REITs
0.5%
US Market
1 Year Returns
-5.1%
NYSE:BHR
13.1%
US REITs
0.8%
US Market
BHR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Braemar Hotels & Resorts (BHR) -0.1% -19.9% -13.9% -5.1% -31.5% -41.5%
US REITs 0.5% 1.5% 4.4% 13.1% 10.7% 26.4%
US Market 0.5% 0.2% 1.1% 0.8% 37.4% 37.5%
1 Year Return vs Industry and Market
  • BHR underperformed the REITs industry which returned 13.1% over the past year.
  • BHR underperformed the Market in United States of America which returned 0.8% over the past year.
Price Volatility
BHR
Industry
5yr Volatility vs Market

BHR Value

 Is Braemar Hotels & Resorts undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Braemar Hotels & Resorts to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Braemar Hotels & Resorts.

NYSE:BHR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BHR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.49
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.494 (1 + (1- 21%) (292.13%))
1.424
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.42
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.424 * 5.96%)
11.22%

Discounted Cash Flow Calculation for NYSE:BHR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Braemar Hotels & Resorts is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Braemar Hotels & Resorts is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:BHR DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 11.22%)
2019 48.39 Analyst x2 43.51
2020 54.18 Analyst x1 43.80
2021 56.33 Est @ 3.97% 40.95
2022 58.36 Est @ 3.6% 38.14
2023 60.30 Est @ 3.34% 35.44
2024 62.21 Est @ 3.16% 32.87
2025 64.09 Est @ 3.03% 30.45
2026 65.98 Est @ 2.94% 28.19
2027 67.87 Est @ 2.88% 26.07
2028 69.80 Est @ 2.83% 24.11
Present value of next 10 years cash flows $343.55
NYSE:BHR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $69.80 × (1 + 2.73%) ÷ (11.22% – 2.73%)
$845.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $845.01 ÷ (1 + 11.22%)10
$291.89
NYSE:BHR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $343.55 + $291.89
$635.44
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $635.44 / 37.61
$16.9
NYSE:BHR Discount to Share Price
Calculation Result
Value per share (USD) From above. $16.90
Current discount Discount to share price of $10.08
= -1 x ($10.08 - $16.90) / $16.90
40.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Braemar Hotels & Resorts is available for.
Intrinsic value
40%
Share price is $10.08 vs Future cash flow value of $16.9
Current Discount Checks
For Braemar Hotels & Resorts to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Braemar Hotels & Resorts's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Braemar Hotels & Resorts's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Braemar Hotels & Resorts's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Braemar Hotels & Resorts's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BHR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.37
NYSE:BHR Share Price ** NYSE (2019-06-14) in USD $10.08
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.95x
United States of America Market PE Ratio Median Figure of 3,091 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Braemar Hotels & Resorts.

NYSE:BHR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BHR Share Price ÷ EPS (both in USD)

= 10.08 ÷ -0.37

-27.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Braemar Hotels & Resorts is loss making, we can't compare its value to the US REITs industry average.
  • Braemar Hotels & Resorts is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Braemar Hotels & Resorts's expected growth come at a high price?
Raw Data
NYSE:BHR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -27.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
1.8%per year
United States of America REITs Industry PEG Ratio Median Figure of 142 Publicly-Listed REITs Companies 2.42x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Braemar Hotels & Resorts, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Braemar Hotels & Resorts's assets?
Raw Data
NYSE:BHR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $11.81
NYSE:BHR Share Price * NYSE (2019-06-14) in USD $10.08
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.85x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NYSE:BHR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BHR Share Price ÷ Book Value per Share (both in USD)

= 10.08 ÷ 11.81

0.85x

* Primary Listing of Braemar Hotels & Resorts.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Braemar Hotels & Resorts is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Braemar Hotels & Resorts's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Braemar Hotels & Resorts has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BHR Future Performance

 How is Braemar Hotels & Resorts expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Braemar Hotels & Resorts expected to grow at an attractive rate?
  • Unable to compare Braemar Hotels & Resorts's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Braemar Hotels & Resorts's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Braemar Hotels & Resorts's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BHR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BHR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 1.8%
NYSE:BHR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 6.1%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6.3%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BHR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BHR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 527 -14 1
2020-12-31 512 74 -19 4
2019-12-31 486 70 -20 5
NYSE:BHR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 435 66 -12
2018-12-31 410 71 -6
2018-09-30 402 77 31
2018-06-30 405 79 32
2018-03-31 410 70 20
2017-12-31 410 71 16
2017-09-30 415 58 -8
2017-06-30 407 56 11
2017-03-31 403 51 14
2016-12-31 403 59 15
2016-09-30 399 63 9
2016-06-30 386 63 -15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Braemar Hotels & Resorts is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Braemar Hotels & Resorts's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BHR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Braemar Hotels & Resorts Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BHR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.03 0.03 0.03 1.00
2019-12-31 -0.57 -0.44 -0.70 2.00
NYSE:BHR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.37
2018-12-31 -0.19
2018-09-30 0.98
2018-06-30 1.02
2018-03-31 0.63
2017-12-31 0.52
2017-09-30 -0.28
2017-06-30 0.39
2017-03-31 0.55
2016-12-31 0.57
2016-09-30 0.31
2016-06-30 -0.54

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Braemar Hotels & Resorts will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Braemar Hotels & Resorts's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Braemar Hotels & Resorts has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BHR Past Performance

  How has Braemar Hotels & Resorts performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Braemar Hotels & Resorts's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Braemar Hotels & Resorts does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Braemar Hotels & Resorts's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Braemar Hotels & Resorts's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Braemar Hotels & Resorts's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Braemar Hotels & Resorts Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BHR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 434.94 -11.92 28.70
2018-12-31 410.06 -6.09 25.81
2018-09-30 401.66 31.35 25.69
2018-06-30 404.82 32.20 21.61
2018-03-31 410.25 19.78 20.20
2017-12-31 409.96 15.82 20.68
2017-09-30 415.48 -8.12 21.20
2017-06-30 407.02 10.53 24.89
2017-03-31 403.42 14.46 35.89
2016-12-31 403.27 15.19 32.34
2016-09-30 398.75 8.56 40.50
2016-06-30 386.45 -15.00 38.41
2016-03-31 365.98 -9.71 26.97
2015-12-31 346.62 -8.84 25.32
2015-09-30 333.92 -3.57 19.55
2015-06-30 331.34 7.57 18.11
2015-03-31 323.29 4.59 18.80
2014-12-31 307.31 1.92 17.68
2014-09-30 285.67 -7.42 15.67
2014-06-30 261.84 -10.38 14.88
2014-03-31 241.22 -10.05 12.63
2013-12-31 233.50 -11.79 13.19
2013-09-30 239.55 -1.31 12.73
2013-06-30 232.63 -2.04 12.57
2013-03-31 226.66 -4.40 12.62
2012-12-31 221.19 -4.55 11.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Braemar Hotels & Resorts has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Braemar Hotels & Resorts used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Braemar Hotels & Resorts improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Braemar Hotels & Resorts's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Braemar Hotels & Resorts has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BHR Health

 How is Braemar Hotels & Resorts's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Braemar Hotels & Resorts's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Braemar Hotels & Resorts is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Braemar Hotels & Resorts's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Braemar Hotels & Resorts's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Braemar Hotels & Resorts Company Filings, last reported 2 months ago.

NYSE:BHR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 534.35 1,107.37 73.99
2018-12-31 543.09 985.87 182.75
2018-09-30 525.31 985.72 164.02
2018-06-30 534.19 985.21 169.40
2018-03-31 528.36 821.05 95.39
2017-12-31 529.30 820.96 137.66
2017-09-30 507.46 906.82 126.95
2017-06-30 517.41 907.00 129.89
2017-03-31 524.13 856.16 161.71
2016-12-31 428.94 764.62 127.88
2016-09-30 432.27 766.03 131.54
2016-06-30 426.13 776.03 136.84
2016-03-31 451.94 834.11 106.04
2015-12-31 457.08 835.59 105.68
2015-09-30 468.32 760.34 87.19
2015-06-30 480.56 762.36 180.47
2015-03-31 410.28 764.34 109.21
2014-12-31 424.00 761.73 171.47
2014-09-30 447.87 765.17 182.83
2014-06-30 445.12 767.14 178.28
2014-03-31 440.99 769.07 176.52
2013-12-31 303.13 621.88 143.78
2013-09-30 551.67 810.66 96.06
2013-06-30 191.94 625.87 16.76
2013-03-31 185.30 627.69 13.71
2012-12-31 252.38 570.81 20.31
  • Braemar Hotels & Resorts's level of debt (195.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (174.4% vs 195.9% today).
  • Debt is not well covered by operating cash flow (6.3%, less than 20% of total debt).
  • Braemar Hotels & Resorts is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Braemar Hotels & Resorts's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Braemar Hotels & Resorts has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BHR Dividends

 What is Braemar Hotels & Resorts's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.35%
Current annual income from Braemar Hotels & Resorts dividends. Estimated to be 6.35% next year.
If you bought $2,000 of Braemar Hotels & Resorts shares you are expected to receive $127 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Braemar Hotels & Resorts's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Braemar Hotels & Resorts's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BHR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BHR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.64 1.00
2020-12-31 0.64 4.00
2019-12-31 0.64 4.00
NYSE:BHR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-14 0.640 6.349
2019-03-13 0.640 5.239
2018-12-10 0.640 6.080
2018-09-14 0.640 6.119
2018-06-05 0.640 5.736
2018-03-15 0.640 6.189
2017-12-11 0.640 6.763
2017-09-14 0.640 6.685
2017-06-14 0.640 6.406
2017-03-14 0.640 6.180
2017-02-28 0.640 5.888
2017-02-22 0.640 4.840
2016-12-12 0.480 3.476
2016-09-15 0.480 3.570
2016-06-14 0.480 3.207
2016-05-10 0.480 4.115
2016-05-04 0.480 3.936
2016-03-14 0.400 3.655
2015-12-10 0.400 3.528
2015-09-15 0.400 2.754
2015-06-15 0.400 2.779
2015-03-13 0.200 1.241
2014-12-15 0.200 1.179
2014-09-15 0.200 1.221
2014-06-13 0.200 1.190
2014-03-17 0.200 1.280
2013-12-16 0.200 1.163

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Braemar Hotels & Resorts has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Braemar Hotels & Resorts only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Braemar Hotels & Resorts's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (103.7x coverage).
X
Income/ dividend checks
We assess Braemar Hotels & Resorts's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Braemar Hotels & Resorts afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Braemar Hotels & Resorts has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BHR Management

 What is the CEO of Braemar Hotels & Resorts's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Richard Stockton
COMPENSATION $1,729,331
AGE 47
TENURE AS CEO 2.6 years
CEO Bio

Mr. Richard J. Stockton is an Independent Trustee and Lead Independent Trustee at Spirit MTA REIT since May 30, 2018. Mr. Stockton has been the Chief Executive Officer of Braemar Hotels & Resorts Inc. (formerly, Ashford Hospitality Prime, Inc.) since November 14, 2016 and its President since April 2017. Mr. Stockton spent over 15 years at Morgan Stanley in real estate investment banking where he rose from associate to managing director and regional group head. At Morgan Stanley, he was head of EMEA Real Estate Banking in London, executing business across Europe, the Middle East and Africa. He was also appointed co-head of the Asia Pacific Real Estate Banking Group, where he was responsible for a team across Hong Kong, Singapore, Sydney and Mumbai. He left Morgan Stanley in 2013 to become president and CEO-Americas for OUE Limited, a publicly listed Singaporean property company with over $5 billion in assets. Most recently, Mr. Stockton served as global chief operating officer for Real Estate at Carval Investors, a subsidiary of Cargill with approximately $1 billion in real estate investments in the United States, Canada, United Kingdom and France. Mr. Stockton received an MBA in Finance and Real Estate from The Wharton School, University of Pennsylvania and a Bachelor of Science degree from Cornell University, School of Hotel Administration.

CEO Compensation
  • Richard's compensation has increased whilst company is loss making.
  • Richard's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Braemar Hotels & Resorts management team in years:

4.1
Average Tenure
47
Average Age
  • The tenure for the Braemar Hotels & Resorts management team is about average.
Management Team

Monty Bennett

TITLE
Chairman of the Board
COMPENSATION
$2M
AGE
52

Richard Stockton

TITLE
President & CEO
COMPENSATION
$2M
AGE
47
TENURE
2.6 yrs

Deric Eubanks

TITLE
CFO & Treasurer
COMPENSATION
$730K
AGE
42
TENURE
5 yrs

Jeremy Welter

TITLE
Chief Operating Officer
COMPENSATION
$730K
AGE
41
TENURE
1.3 yrs

J. Hays

TITLE
Chief Strategy Officer
COMPENSATION
$730K
AGE
40
TENURE
4.1 yrs

Mark Nunneley

TITLE
Chief Accounting Officer
AGE
61
TENURE
6.2 yrs

Jordan Jennings

TITLE
Manager

Rob Haiman

TITLE
Executive VP
AGE
49

Jim Plohg

TITLE
Associate General Counsel
Board of Directors Tenure

Average tenure and age of the Braemar Hotels & Resorts board of directors in years:

5.6
Average Tenure
47.5
Average Age
  • The tenure for the Braemar Hotels & Resorts board of directors is about average.
Board of Directors

Monty Bennett

TITLE
Chairman of the Board
COMPENSATION
$2M
AGE
52
TENURE
6.2 yrs

Stefani Carter

TITLE
Independent Director
COMPENSATION
$158K
AGE
40
TENURE
5.6 yrs

Curtis McWilliams

TITLE
Lead Independent Director
COMPENSATION
$178K
AGE
62
TENURE
6.4 yrs

Matthew Rinaldi

TITLE
Independent Director
COMPENSATION
$156K
AGE
43
TENURE
5.6 yrs

Ken Fearn

TITLE
Independent Director
COMPENSATION
$149K
AGE
52
TENURE
2.8 yrs

Abteen Vaziri

TITLE
Independent Director
COMPENSATION
$133K
AGE
38
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
03. Oct 18 Sell Sessa Capital Company 28. Aug 18 02. Oct 18 -513,664 $11.76 $-5,949,276
X
Management checks
We assess Braemar Hotels & Resorts's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Braemar Hotels & Resorts has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BHR News

Simply Wall St News

One Metric To Rule Them All: Braemar Hotels & Resorts, Inc. (NYSE:BHR)

View our latest analysis for Braemar Hotels & Resorts A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent. … Next, interest coverage ratio shows how many times BHR’s earnings can cover its annual interest payments. … Next Steps: As a REIT, Braemar Hotels & Resorts offers some unique characteristics which could help diversify your portfolio.

Simply Wall St -

If You Had Bought Braemar Hotels & Resorts (NYSE:BHR) Shares A Year Ago You'd Have Made 24%

View our latest analysis for Braemar Hotels & Resorts Because Braemar Hotels & Resorts is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … Braemar Hotels & Resorts grew its revenue by 6.0% last year. … We note that for Braemar Hotels & Resorts the TSR over the last year was 31%, which is better than the share price return mentioned above.

Simply Wall St -

Here's What You Should Know About Braemar Hotels & Resorts, Inc.'s (NYSE:BHR) 4.9% Dividend Yield

On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations.. … In this case, Braemar Hotels & Resorts likely looks attractive to dividend investors, given its 4.9% dividend yield and five-year payment history.! … Given the recent spike in its share price, Braemar Hotels & Resorts's yield will look lower, even though the market may now be factoring in an improvement in its long-term prospects.

Simply Wall St -

Who Has Been Selling Braemar Hotels & Resorts, Inc. (NYSE:BHR) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Braemar Hotels & Resorts, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Braemar Hotels & Resorts Insider Transactions Over The Last Year.

Simply Wall St -

Investing In Braemar Hotels & Resorts, Inc. (NYSE:BHR): What You Need To Know

Braemar Hotels & Resorts, Inc. … See our latest analysis for Braemar Hotels & Resorts … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

Simply Wall St -

Does Market Volatility Impact Braemar Hotels & Resorts, Inc.'s (NYSE:BHR) Share Price?

(NYSE:BHR), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Investing In Braemar Hotels & Resorts Inc (NYSE:BHR): What You Need To Know

Braemar Hotels & Resorts Inc is a US$366m. … See our latest analysis for Braemar Hotels & Resorts. … REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities

Simply Wall St -

Is It Time To Consider Buying Braemar Hotels & Resorts Inc (NYSE:BHR)?

Braemar Hotels & Resorts Inc (NYSE:BHR), which is in the reits business, and is based in United States,. … A question to answer is whether Braemar Hotels & Resorts's current trading price of $10.54 reflective of the actual value of the? … Let’s take a look at Braemar Hotels & Resorts’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

These Fundamentals Make Braemar Hotels & Resorts Inc (NYSE:BHR) Truly Worth Looking At

Attractive stocks have exceptional fundamentals. … In the case of Braemar Hotels & Resorts Inc (NYSE:BHR), there's

Simply Wall St -

Should You Expect Braemar Hotels & Resorts Inc (NYSE:BHR) To Continue Delivering An ROE Of 8.5%?

Braemar Hotels & Resorts Inc (NYSE:BHR) performed in-line with its hotel and resort reits industry on the basis of its ROE – producing a return of8.5% relative to the peer average of 6.6% over the past 12 months. … But ROE does not capture any debt, so we only see high profits and low equity, which is great on the surface. … Check out our latest analysis for Braemar Hotels & Resorts

Simply Wall St -

BHR Company Info

Description

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).

Details
Name: Braemar Hotels & Resorts, Inc.
BHR
Exchange: NYSE
Founded: 2013
$379,069,165
$331,461,325
37,606,068
Website: http://www.bhrreit.com
Address: Braemar Hotels & Resorts, Inc.
14185 Dallas Parkway,
Suite 1100,
Dallas,
Texas, 75254,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BHR Common Stock New York Stock Exchange US USD 06. Nov 2013
NYSE BHR.PRB 5.5 CUM CV PFD B New York Stock Exchange US USD 02. May 2016
NYSE BHR.PRD Pfd Ser D New York Stock Exchange US USD 14. Nov 2018
Number of employees
Current staff
Staff numbers
0
Braemar Hotels & Resorts employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 00:31
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/18
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.