Braemar Hotels & Resorts Inc
Change company Symbol lookup
Select an option...
BHR Braemar Hotels & Resorts Inc
NVO Novo Nordisk A/S
LVVEF Yooma Wellness Inc
FFBC First Financial Bancorp
CHRD Chord Energy Corp
ALBY Community Capital Bancshares Inc
SMIH Summit Healthcare Acquisition Corp
SLAB Silicon Laboratories Inc
NCLH Norwegian Cruise Line Holdings Ltd
SNMSF Spin Master Corp

Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Blend
Company profile

Braemar Hotels & Resorts Inc. is a real estate investment trust (REIT) that invests primarily in high revenue per available room (RevPAR), luxury hotels and resorts. The Company conducts its business and owns all of its assets through its operating partnership, Braemar Hospitality Limited Partnership (Braemar OP). It operates in the direct hotel investment segment of the hotel lodging industry. It owns interests in approximately 14 hotel properties in six states, the District of Columbia and St. Thomas, the United States, Virgin Islands with approximately 3,875 total rooms. The Company owns 12 of its hotel properties directly, and the remaining two hotel properties through an investment in a majority-owned consolidated entity. The Company's hotel properties include Marriott Seattle Waterfront, Sofitel Chicago Magnificent Mile, The Ritz-Carlton St. Thomas, The Ritz-Carlton Sarasota, Bardessono Hotel and Spa, The Ritz-Carlton Lake Tahoe, Pier House Resort & Spa, and Dorado Beach.

Closing Price
Day's Change
-0.22 (-4.63%)
B/A Size
Day's High
Day's Low
(Above Average)

10-day average volume:

Seaport Global touts discounted cannabis stocks as a recession play

8:11 am ET July 25, 2022 (MarketWatch)

By Steve Gelsi

Seaport's Sonny Randhawa says 'a commodity never smelled so sweet' as he launches coverage of eight U.S. cannabis names.

Seaport Global Securities LLC analyst Sonny Randhawa on Friday launched coverage of eight U.S. cannabis companies and assigned buy ratings to all of them as an undervalued group.

He predicted consumers could turn to cannabis as a lower-priced alternative to alcohol in a potential recession.

"With budgets constrained, we believe new customer penetration rates could accelerate as consumers spend more time at home and the bang-per-buck for cannabis vs alcohol keeps moving higher," Randhawa said.

Summing up his ratings move, Randhawa said, "a commodity never smelled so sweet" because cannabis stocks are going through a bottoming process and will be higher six months from now, both on an absolute basis and relative to the S&P 500 .

Ascend Wellness Holdings Inc. (AAWH) ($7 price target), Ayr Wellness Inc. ($13 price target), Curaleaf Holdings Inc. ($9 price target) and Green Thumb Industries Inc. ($15 price target) all drew buy ratings.

Jushi Holdings Inc. ($3 price target), Terrascend Corp. ($4 price target), Trulieve Cannabis Corp. ($23 price target), and Verano Holdings Corp. also received buy ratings.

"If there was ever a time to buy over the last 18 months, we believe it's today," Randhawa said.

The view by Seaport Global remains contrarian relative to the steep losses in the sector in 2022. Dim prospects for a new cannabis bill introduced this week by Sen. Chuck Schumer marked the latest in a series of disappointments for investors hoping to cash in on federal legalization.

The AdvisorShares Pure U.S. Cannabis ETF (MSOS) has lost 51.9% of its value in 2022, including a drop of 2.7% on Friday. By contrast, the Nasdaq is down 24.3% in 2022. The S&P 500 has lost 16.8%.

Still, Seaport Global's Randhawa argues that prospects for the group over the next three to five years remain more bullish now than ever.

During the current time of high inflation and rising interest rates, value names in a sector typically outperform, he said.

Cannabis stocks fit in this value bucket after steep losses in stock prices, even as the cannabis sector grows at a projected compound annual growth rate of 17%, Randhawa said.

Also Read:Analysts see no lift for downbeat cannabis stocks from Chuck Schumer's bill

-Steve Gelsi


(END) Dow Jones Newswires

July 25, 2022 08:11 ET (12:11 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.