Procaccianti Hotel REIT will fulfill approximately 3% of most share repurchase requests submitted for the quarter ended June 30, 2026, after reaching the funding limit under its share repurchase program.
The nontraded REIT limits repurchase funding primarily to net proceeds received through its distribution reinvestment plan, along with any additional operating funds authorized by its board. On August 26, the board determined that available DRIP proceeds were insufficient to accommodate all requests for the quarter.
Repurchase requests arising from the death of a stockholder will be fulfilled in full. The company reported no requests in the next priority categories, which include qualifying disabilities, certain other involuntary exigent circumstances approved by the board, and full repurchases of accounts holding 100 or fewer eligible shares. All remaining requests will be subject to the approximately 3% proration.
Unfulfilled requests will automatically carry forward to subsequent repurchase periods unless withdrawn at least five business days before the next repurchase date. The latest result reflects a lower fulfillment rate than the approximately 4.6% proration reported for the quarter ended September 30, 2025, when the REIT also cited insufficient DRIP proceeds.
