5 Best Dividend Penny Stocks to Buy Now

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

Number of Hedge Fund Holders: 20
Share Price as of July 2: $4.02

Braemar Hotels & Resorts Inc. (NYSE:BHR) is an American real estate investment trust company that mainly invests in luxury hotels and resorts. The company reported revenue of $215.3 million in the first quarter of 2023, which showed a 33% growth from the same period last year. It ended the quarter with cash and cash equivalents of $281.5 million and restricted cash of $63.1 million. BHR is among the best penny stocks on our list that pay dividends.

On April 5, Braemar Hotels & Resorts Inc. (NYSE:BHR) declared a quarterly dividend of $0.05 per share, which was in line with its previous dividend. The company’s shares have a yield of 4.98%, as of July 2.

At the end of March 31, 20 hedge funds in Insider Monkey’s database held stakes in Braemar Hotels & Resorts Inc. (NYSE:BHR), worth over $42.2 million collectively. With 12.5 million shares, Davidson Kempner was the company’s leading stakeholder in Q1.