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Strategies & Market Trends : Value Investing
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To: Brendan W who wrote (13149)10/19/2001 12:01:07 PM
From: Brendan W  Read Replies (1) of 79066
 
Host Marriot.

I believe somebody posted interest in HMT and HPT (hotel REITs) recently. I am also watching, but have not yet bought. I read the recent press release and listened to the HMT call of 10/18/2001 and was surprised to see the characterization of them in the news pages available on the web.

The company expects to:
o suspend the December dividend
o resume dividends later at substantially lower levels
o be in violation of loan covenants of their credit facility by January

I didn't read any of this... I just got it from their webcast (still available from their website).

I deduce from a statement from one of the research analysts that the company thinks the replacement value of their assets approaches $11 per share. Current price is $6.50.
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