10 Best Dividend Stocks Under $5

4. Braemar Hotels & Resorts Inc. (NYSE:BHR)

Number of Hedge Fund Holders: 15

Share Price as of the close of August 23: $3.04

Braemar Hotels & Resorts Inc. (NYSE:BHR) is an American real estate investment trust company, based in Texas. The company owns and operates luxury hotels and resorts. The company’s business is gradually recovering after facing significant challenges during the 2020 pandemic. The stock has climbed over 23.2% since the beginning of 2024, with a 12-month return of nearly 9%. Additionally, its second-quarter 2024 earnings were promising and have reassured investors.

In the second quarter of 2024, Braemar Hotels & Resorts Inc. (NYSE:BHR) is mainly pleased with the performance of its urban hotels, which saw a 6.3% increase in revenue per available room (RevPAR) compared to the same quarter last year. Looking ahead, the company believes that its portfolio is well-positioned for outperformance in both the near and long term. Moreover, it is making significant progress in executing its recently announced shareholder value creation plan. This includes the recent sale of the Hilton La Jolla Torrey Pines at a very attractive cap rate, ongoing evaluations of additional potential asset sales, a $50 million preferred share redemption program, and a $50 million share buyback authorization, all demonstrating their commitment to maximizing value for investors.

Braemar Hotels & Resorts Inc. (NYSE:BHR)’s balance sheet also remained strong. It ended the quarter with over $120.3 million in cash and cash equivalents and has restricted cash of $60.7 million. The company offers a quarterly dividend of $0.05 per share and has a dividend yield of 6.51%, as of August 23.

Braemar Hotels & Resorts Inc. (NYSE:BHR) was included in 15 hedge fund portfolios at the end of Q2 2024, the same as in the previous quarter, as per Insider Monkey’s database. The stakes held by these hedge funds have a collective value of nearly $25 million.