Braemar Hotels & Resorts (BHR) Lags Q2 FFO and Revenue Estimates

Core Insights - Braemar Hotels & Resorts reported quarterly funds from operations (FFO) of $0.10 per share, missing the Zacks Consensus Estimate of $0.13 per share, and down from $0.20 per share a year ago, representing an FFO surprise of -23.08% [1] - The company posted revenues of $187.59 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.85%, compared to year-ago revenues of $186.71 million [2] - The stock has increased approximately 50.8% since the beginning of the year, outperforming the S&P 500's gain of 14% [3] Financial Performance - Over the last four quarters, Braemar Hotels & Resorts has surpassed consensus FFO estimates only once [2] - The current consensus FFO estimate for the upcoming quarter is -$0.13 on revenues of $165.94 million, and for the current fiscal year, it is $0.43 on revenues of $757.72 million [7] Market Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [3] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the bottom 40% of over 250 Zacks industries, which may impact stock performance [8] - The estimate revisions trend for Braemar Hotels & Resorts is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6]