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Braemar Hotels & Resorts Inc | 5.50% Series B Cumulative Convertible Preferred Stock (BHR.PRB)
Prospectus excerpt: We are offering 290,850 shares of our 5.50% Series B Cumulative Convertible Preferred Stock (the "Series B Preferred Stock") pursuant to this prospectus supplement. We are conducting this offering to comply with our obligation to conduct an underwritten offering of the Series B Preferred Stock and provide for the listing of the Series B Preferred Stock on a national securities exchange pursuant to an agreement with the current holder of all of the currently outstanding 2,600,000 shares of Series B Preferred Stock. Full Prospectus PDF », Secondary Prospectus PDF », BHR Page »
Series: | B | Alternate symbology: | BHR-B, BHR-PB, BHRprB | Redeemable?: | Yes | Call Date: | 6/11/2020 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Conversion Ratio: | $18.90 | Conversion Price: | 1.3228 | Shares Offered: | 2,890,850 | Liquidation Preference: | $25.00 | Recent Market Price: | $13.50 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-11.50 (-46.00%) | Annualized Dividend: | 1.3752 | Recent Ex-Date: | 6/28/2024 | Current Yield: | 10.19% | Original Coupon: | 5.50% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
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Braemar Hotels & Resorts invests in hotels and resorts. Co. conducts its business and owns substantially all of its assets through its operating partnership, Braemar Hospitality Limited Partnership. Co. operates in the hotel investment segment of the hotel lodging industry. Co. owns interests in hotel properties in several states, the District of Columbia and St. Thomas, U.S. Virgin Islands, excluding those attributable to its joint venture partner. The hotel properties in Co.'s portfolio are mainly located in U.S. urban and resort locations. Co. owns most of its hotel properties, and the remaining hotel properties through an investment in a majority-owned consolidated joint venture entity. Preferreds: BHR.PRB, BHR.PRD Open the BHR Information Page »
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