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Real estate investment trusts

Procaccianti Hotel REIT Authorizes Distribution Payments and Reports Quarterly Accruals

Strategic Insights

— 1 min read

Procaccianti Hotel REIT, Inc. has filed a Form 8-K with the U.S. Securities and Exchange Commission, announcing the authorization of distribution payments for the quarter ended March 31, 2025. The board of directors has approved the payment of distributions to holders of Class K common stock and Class K-I common stock, as well as Class K limited partnership interests held by certain affiliate sellers. The distribution payments are based on accrued amounts since January 1, 2025, reflecting an accrual rate of seven percent per annum.

Key Takeaways:

  • The board of directors authorized the payment of distributions out of legally available funds to holders of Class K common stock and Class K-I common stock, totaling $670,156 and $242,972, respectively.
  • The distributions represent an accrual rate of seven percent per annum for each share class under the Company's charter.
  • The authorization also includes the payment of distributions to holders of Class K limited partnership interests held by affiliate sellers, totaling $22,115.
  • The distribution payments are based on accrued amounts since January 1, 2025.
  • The Company's charter specifies an accrual rate of seven percent per annum for each share class.

Statistics:

  • Distribution amount for Class K common stock: $670,156
  • Distribution amount for Class K-I common stock: $242,972
  • Accrual rate per annum: 7%
  • Accrual rate per day (Class K common stock): $0.001917808
  • Accrual rate per day (Class K-I common stock): $0.001917808
  • Distribution amount for Class K OP Units: $22,115
  • Total number of Class K common stock shares outstanding (as of March 31, 2025): N/A
  • Total number of Class K-I common stock shares outstanding (as of March 31, 2025): N/A

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
  • Procaccianti Hotel REIT, Inc. (Exact Name of Registrant as Specified in Its Charter) Maryland 000-56272 81-3661609 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S Employer Identification No.)

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