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Baird analyst Michael Bellisario maintains Braemar Hotels & Resorts (NYSE:BHR) with a Neutral and raises the price target from $2 to $2.5.
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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
Read original at benzingaBlackwells 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.
Read original at globenewswire-incBrancous 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.
Read original at globenewswire-inc