Reported Earlier, Braemar Hotels & Resorts Unveils Comprehensive Shareholder Value Plan: $165M Hotel Sale, Debt Repayment, And $50M Share Buybacks Authorization
Portfolio Pulse from Benzinga Newsdesk
Braemar Hotels & Resorts Inc. (BHR) announced a shareholder value plan including the sale of Hilton Torrey Pines for $165 million, repayment of 2024 debt, a $50 million preferred share redemption, and a $50 million common share buyback authorization.
May 07, 2024 | 8:43 am
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Braemar Hotels & Resorts Inc. announces a comprehensive shareholder value plan, including asset sale, debt repayment, and share buybacks.
The announcement by Braemar Hotels & Resorts Inc. of a comprehensive plan to enhance shareholder value through the sale of a significant asset, repayment of debt, and aggressive share buyback and redemption programs is likely to be viewed positively by investors. These actions demonstrate the company's commitment to financial health and returning value to shareholders, which could lead to increased investor confidence and potentially a rise in stock price in the short term.
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