REITS - Buying 1 - 2 weeks before going ex-dividend Message Board

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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend

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To: Richard Barron who wrote (1598)	11/6/1999 9:26:00 PM
From: dbuki	Read Replies (1) of 2561

HMT Quips. HMT convertible pref., now pays about 10%, trading at $33, redeemable by the Co. after 12/2/99 at a slight premium over face value ($50). Convertible to 3.25 shares of HMT at $15.367. Interesting way to play HMT. If REITs recover, this will recover alongside the common. In addition, the Co. may redeem early. Why? Existence of conv. pref. may be a drag on FFO calculation (valued as if converted?). Was issued before REIT conversion. Collect 10% while waiting for either scenario to play out. Any opinions?

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