BHR - Braemar Hotels stock gains 3% after hours as REIT expects to swing to profit in Q4
- Braemar Hotels & Resorts ( NYSE: BHR ) stock rose 3.2% after the bell on Wednesday as the REIT expects to swing to profit in Q4 .
- The REIT reported Q4 preliminary estimated net income of ~$0.5M-$3.5M vs. -$2.3M in Q4 2021.
- Adj. EBITDAre is projected to be $36M-$39M vs. $29.4M in Q4 2021.
- October RevPAR was $280, up ~14% vs. October 2019, and November RevPAR was $253, up ~15% vs. November 2019.
- Braemar ( BHR ) expects December RevPAR to be at a similar premium to 2019.
- Earlier this month, Braemar ( BHR ) raised its dividend by 400% and announced a $25M stock buyback program .
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Braemar Hotels stock gains 3% after hours as REIT expects to swing to profit in Q4