Thanks, Michael. No my father doesn't and didn't own HOT, but merely heard it touted the other day. He owns some Cohen & Steers and Fidelity Real Estate. He's a retiree, comfortable, and not worried about dying wealthy, so he's comfortable with a 33% equity portfolio, and even that is in conservative funds and a few blue chips.
I don't know enough REIT's to invest in them, but occasionally I like to take a plunge in companies that have unrealized real estate assets, and have done well with them (e.g., EdperBrascan, TrizecHahn) and have a little money in Longleaf Real Estate, which owns relatively few REITs.
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