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Strategies & Market Trends : Have REITs begun a rebound 9/16/98 ???
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To: Logistics who wrote (31)10/16/1998 10:38:00 PM
From: Wren  Read Replies (1) of 45
 
HOT was a paired share REIT. They announced several months ago that, because of a tax law change that targeted the paired shared REITS, they were abandoned the REIT status and would be taxed as a C Corporation.

I sold my HOT that day for 40 1/8 because I expected a drop in the dividend since the high dividend was possible only because of the REIT status. There were a lot of shareholders who owned HOT to get the high dividend, and they would want to get out of HOT because of a lower dividend.

I don't know if the dividend rate you are looking at is the old rate, or some combination of the old rate and new rate, or the new rate.

But HOT seems to have bottomed and it is a good company. Their CEO was on CNBC today with a positive outlook.
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