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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (36394)1/9/2010 5:05:55 PM
From: geoffrey Wren  Read Replies (1) of 78735
 
Anyone have opinion on RLH preferred A?

Saw a post recommending on Yahoo HRP board; poster said cash flow easily covers preferred payments, so I have done a quick check on it.

Usually I would stay away from a hotal company, but this seems to have some things going for it by the metrics I use.

11.28% yield--nice
2/3rds of enterprise value is debt, 1/3 stockholder market cap--pretty good for what is essentially a REIT.
Not sure why they have not formed as an REIT
debt maturities seem within control
small company, and even smaller float for the preferred. This is area where one can sometimes find bargains.

Any opinions?
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