- Adjusted EBITDA was $104 million and adjusted FFO per diluted share was $0.48.
- Excluding these factors, portfolio RevPAR grew slightly by 0.2%, with urban hotels outperforming by 140 basis points.
- Hotel EBITDA was $113 million with margins of 31.1%, flat excluding renovation impacts.
- Non-room revenues grew by 1.5%, driven by ROI initiatives in food and beverage and ancillary services.
- Operating expenses were flat year-over-year, limiting margin compression to 90 basis points.
- RLJ reported second quarter 2025 RevPAR of $155, a 2.1% decline year-over-year, impacted by renovations and the Austin Convention Center closure.
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- Closed $204 million in acquisitions including the Ohio Light industrial portfolio, acquired at a 6.7% initial yield with in-place rents approximately 22% below market.
- Occupancy increased sequentially, with an expected year-end same-store occupancy near 96.5%.
- Plymouth Industrial REIT reported strong leasing activity with over 1.4 million square feet commenced in Q2 2025, totaling nearly 6 million square feet year-to-date.
- Same-store NOI grew 4.1% on a cash basis, supported by strong rent growth and renewal activity.
- Share repurchases totaled over 805,000 shares in the quarter plus 225,000 shares post quarter-end.
- Adjusted Funds From Operations (AFFO) was $53.1 million or $0.24 per share in Q2 2025.
- GNL reported Q2 2025 revenue of $124.9 million and a net loss attributable to common stockholders of $35.1 million.
- Gross outstanding debt was reduced to $3.1 billion, down $2 billion from Q2 2024, with 85% fixed-rate debt and a weighted average interest rate of 4.3%.
- Liquidity increased to approximately $1 billion with $1.1 billion capacity on the revolving credit facility.
- Net debt to adjusted EBITDA ratio improved significantly to 6.6x from 8.1x a year ago.
- Adjusted net operating income was $0.23 per share for the quarter, with net income from continuing operations available to common shareholders at $3.2 million or $0.07 per diluted share.
- Gross written premium for casualty E&S increased 4% year-over-year, with the overall E&S segment growing 3%.
- James River Group reported an annualized adjusted net operating return on tangible common equity of 14% for Q2 2025, consistent with their mid-teens return target.
- Net investment income was $20.5 million, up from $20 million in the previous quarter, with a conservative portfolio averaging an A+ credit rating and 3.5 duration.
- Segment expenses declined over 20% year-to-date compared to the prior year, with corporate expenses down $2.4 million sequentially and $400,000 quarter-over-quarter.
- Tangible common book value per share increased 5.3% to $7.49.
- The combined ratio in the E&S segment was 91.7%, nearly 4 points lower than the prior year quarter, supported by underwriting profit of $11.7 million.
- The group's overall combined ratio was 98.6%, consisting of a 68.1% loss ratio and a 30.5% expense ratio, with retroactive capacity lowering the combined ratio by 6.1%.
- Closed $2.3 billion in financing with a €1 billion raise at 3.5%, maintaining a low cost of debt at 3.2% with over eight years average maturity.
- Core FFO including net promote expense was $1.49 per share, excluding net promotes $1.50, both ahead of forecast.
- Energy business delivered 28 megawatts of solar generation and storage, progressing toward a one-gigawatt goal by year-end.
- Lease mark to market ended at 19%, capturing $75 million of NOI this quarter and $900 million as leases roll.
- Net effective rent change was 49% on a net effective basis and 29% on cash basis, highlighting durable lease mark to market.
- Record leasing quarter with nearly 62 million square feet signed, driving occupancy to 95.3%, up 20 basis points.
- Same-store net effective and cash NOI growth were 3.9% and 5.2%, respectively.
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