In trading on Monday, shares of Braemar Hotels & Resorts Inc’s 8.25% Series D Cumulative Preferred Stock (Symbol: BHR.PRD) yielded above 12%, with prices dropping as low as $17.10. This contrasts sharply with the average yield of 5.30% for preferred stocks in the “Travel & Entertainment” category. Currently, BHR.PRD is trading at a 31.08% discount to its liquidation preference amount, compared to an average discount of 17.44% in its category.
On the same day, BHR.PRD was up approximately 0.8%, while the common shares (Symbol: BHR) declined by about 2.8%. The annualized dividend for BHR.PRD is set at $2.0624, reflecting its strong yield position.
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