Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 103

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 103
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 redeemable noncontrolling interests in Braemar OP (in thousands) and the corresponding approximate ownership percentage of our operating partnership:March 31, 2025December 31, 2024Redeemable noncontrolling interests in Braemar OP (in thousands)$26,430 $29,964 Adjustments to redeemable noncontrolling interests (1) (in thousands)$165 $1,324 Ownership percentage of operating partnership9.33 %8.05 %____________________________________(1)    Reflects the excess of the redemption value over the accumulated historical cost.We allocated net (income) loss to the redeemable noncontrolling interests as illustrated in the table below (in thousands):Three Months Ended March 31,20252024Net (income) loss attributable to redeemable noncontrolling interests in operating partnership$262 $(296)Distributions declared to holders of common units, LTIP units and Performance LTIP units344 366 

18

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

The following table presents the common units redeemed for common stock (in thousands):Three Months Ended March 31,20252024Units redeemed457 $— Fair value of common units redeemed (1)$1,381 — ____________________________________(1)    The redemption value is the greater of historical cost or fair value. The historical cost of the converted units was $2.3 million.

The following table presents the common units redeemed for cash (in thousands):Three Months Ended March 31,20252024Units redeemed35 — Fair value of common units redeemed$92 $— 

12. Equity and Stock-Based Compensation

Common Stock Dividends—The following table summarizes the common stock dividends declared during the period (in thousands):Three Months Ended March 31,20252024Common stock dividends declared$3,372 $3,345 

Stock Repurchases—On May 3, 2024, the board of directors approved a new share repurchase program pursuant to which the board of directors granted a repurchase authorization to acquire shares of the Company’s common stock, par value $0.01 per share, having an aggregate value of up to $50 million. As of March 31, 2025, the Company has not repurchased any common stock pursuant