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Braemar Hotels & Resorts (NYSE:BHR) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.15 by 13.33 percent. This is a 44.44 percent increase over earnings of $0.09 per
Baird analyst Michael Bellisario maintains Braemar Hotels & Resorts (NYSE:BHR) with a Neutral and raises the price target from $2 to $2.5.
Blackwells Capital, a Braemar shareholder, supports the company's transition to self-management following termination of its advisory agreement with Ashford Inc. The firm criticizes activist investor Brancous LP1's continued public campaign, questioning its motives given Brancous's small stake (less than 1%) and past opportunities to exit profitably. Blackwells believes the company's announced initiatives, including cost savings and board reconstitution, address shareholder concerns and should be allowed to proceed.
Brancous LP1, a shareholder of Braemar Hotels & Resorts, criticizes the Board for wasting company resources attacking shareholders instead of negotiating a lower Ashford termination payment. The shareholder claims the Board is pursuing a 'stealth liquidation' through asset sales to trigger a $480 million Change of Control payment to Ashford, which Brancous estimates at $7.00 per share. Brancous demands the Board declare a special dividend of at least $1.00 per share, renegotiate the Ashford payment, and allow shareholders to elect an independent Board.