Publicly traded U.S. real estate investment trusts repurchased 103.5 million common shares during the first half of 2017.

CIM Commercial Trust repurchased 31.15%, or 26.2 million, of its total common shares outstanding in the second quarter, the largest percentage of shares outstanding of any publicly traded REIT during the first half of the year, for an average price of $22.00 per share.

Spirit Realty Capital Inc. and Sotherly Hotels Inc. repurchased 5.52% and 4.71% of their shares outstanding in the first half, respectively. Spirit Realty Capital repurchased just over 26.7 million shares of common stock during the half, nearly all during the second quarter, at an average of $7.62 apiece. Southerly Hotels made all of its share repurchases during the first quarter of the year, buying back 682,500 shares of common stock at an average price of $7.09 per share.

Fourteen U.S. REITs announced new share repurchase programs or increases to existing plans during the first half of 2017.

SBA Communications Corp.'s board approved the authorization of a new $1.0 billion share repurchase plan on Jan. 12 to replace the company's prior plan. During the first half of 2017, the company repurchased 1.2 million shares at an average price of $133.37 per share.

On Feb. 17, RLJ Lodging Trust's board of trustees extended the duration of the company's existing share repurchase program and increased the authorized amount that may be repurchased by $40 million, bringing the total program size to $440 million. As of June 30, $201.5 million remained available for repurchases. During the first half, the company repurchased 53,284 shares at an average price of $21.38 apiece.

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