IHG is cancelling another 40,000 shares as part of a $950 million buyback program, its fifth consecutive year of escalating repurchases. The question asset managers should be asking isn't whether this returns capital... it's what capital isn't going somewhere else.
Xenia's Q4 numbers look clean on the surface... EPS beat, RevPAR up 3.9%, aggressive buybacks at $12.59 a share. But decompose the Fairmont Dallas disposition and the 2026 CapEx guidance, and you start seeing a REIT that's quietly choosing which assets to feed and which to starve.
A headline about a hedge fund holding IHG stock sounds like it matters. It doesn't. But what's actually happening at IHG right now... that's worth your attention.
Choice declared its first quarterly dividend at $0.2875 per share, yielding 1.1%, while swapping general counsels. One of these things matters for shareholders. The other is a press release.
Sunstone posted $0.20 adjusted FFO per share against a consensus expecting a loss, grew RevPAR 9.6%, and the market sold it off 3.5%. The disconnect between the quarter they reported and the price they got tells you everything about where REIT investors' heads are right now.
