BuybackMay 27, 2026, 02:41 PM
Procaccianti Hotel REIT Prorates Q1 Share Repurchases to 1.3%
AI Summary
Procaccianti Hotel REIT, Inc. announced that it prorated share repurchases for the quarter ended March 31, 2026, due to reaching its Funding Limitation. Insufficient net proceeds from the distribution reinvestment plan (DRIP) prevented the company from funding all repurchase requests. While requests from deceased stockholders will be honored in full, other remaining repurchase requests will be fulfilled at approximately 1.3% of the shares requested.
Key Highlights
- Procaccianti Hotel REIT prorated share repurchases for the quarter ended March 31, 2026.
- The Funding Limitation was reached due to insufficient net proceeds from the distribution reinvestment plan (DRIP).
- Requests to repurchase deceased stockholders' shares will be honored in full.
- Other remaining repurchase requests will be prorated at approximately 1.3% of the shares requested.
- The Share Repurchase Program (SRP) limits repurchases to 5.0% of weighted average shares outstanding.
- Funding for repurchases is limited to DRIP net proceeds and Board-authorized operating funds.
Price Impact
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