SCHEDULE: Braemar Hotels & Resorts Preferred Stock Ownership Update

Virtus InfraCap U.S. Preferred Stock ETF reports a 14.69% beneficial ownership stake in Braemar Hotels & Resorts Inc.'s 5.50% Series B Cumulative Convertible Preferred Stock.

Summary

• This Schedule 13G Amendment No. 7 filing details the beneficial ownership of Braemar Hotels & Resorts Inc.'s 5.50% Series B Cumulative Convertible Preferred Stock.
• Virtus InfraCap U.S. Preferred Stock ETF, a Series of ETFis Series Trust I, reports beneficial ownership of 452,287 shares, representing 14.69% of the class.
• Infrastructure Capital Advisors, LLC, Jay Hatfield, and InfraCap Equity Income Fund ETF, a series of Series Portfolios Trust, each report 0.0% beneficial ownership of the preferred stock.
• Virtus InfraCap U.S. Preferred Stock ETF holds shared voting power and shared dispositive power over its 452,287 shares.
• The filing indicates that all reported shares are held in the accounts of Infrastructure Capital Advisors, LLC's clients, with Virtus InfraCap U.S. Preferred Stock ETF being the only client individually owning more than 5% of the preferred stock.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that inherently indicates positive or negative sentiment regarding the issuer's performance or prospects.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership report.

Industry Context

This filing is a standard disclosure of beneficial ownership by institutional investors in a publicly traded company's securities, common across all industries. It does not provide specific industry trends or competitive analysis.

Stakeholder Impact

• Shareholders of Braemar Hotels & Resorts Inc. are informed of a significant institutional holder's stake in the company's preferred stock, which can influence perceptions of stability and institutional interest.

Key Dates

Keywords

Braemar Hotels & Resorts, Preferred Stock, Beneficial Ownership, SEC Filing, Schedule 13G, Virtus InfraCap, Convertible Preferred Stock, Institutional Ownership