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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (50351)	9/25/2013 6:46:49 PM
From: E_K_S	of 78740

Hi Grommit - Summit Hotel Properties, Inc. INN-B - Closed position for small gain Summit Hotel Properties, Inc. INN-C - Closed position for small gain I bought these two positions earlier in the year based on your posts. Tried to get the common stock but it was selling too high so parked some money into their preferreds. On September 13, 2013, INN did a secondary offering @ $9.30/share (15mln shares) which I passed on (I was looking for a 5% yield which would price the common at $9.00/share). As I have been buying more MLP's, the proceeds will go to those recent buys. My plan is to eventually allocate 50% of these funds into the common shares at $9.00/share or lower. That would represent a 5% yield w/ a growth kicker. INN announced today that they acquired four properties that they are going to refurbish. One of those is located in So. California. Therefore, longer term, those new buys once cleaned up should do well and add more FCF to the distribution pot. Hopefully, Mr. Market will allow me to get my "value" buy if/when the common shares sell down below $9.00/share. I am trying to diversify the portfolio from Oil & NG but still want the income, so these hotels look like a good place to invest. I also recently added more shares of EXL (shopping/strip malls REIT) another one of your picks. I have orders in for more of those shares if/when they sell off below $11.85/share. It would be nice to see $11.33/share which would represent a 6% yield. Their last secondary was done 10/2012 for 8.5Mln shares priced at $12.00/share. If/when they can make good selective buys on distressed mall properties like the buy they made in July, the company will have positive growth potential as the general economy recovers. Excel Trust Purchases Shopping Center in California for $41 Million located in Manteca, not the best No. CA location (w/ Costo as an anchor tenant) but better than Stockton. EKS

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