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Strategies & Market Trends : Starwood Lodging REIT -- Ignore unavailable to you. Want to Upgrade?

To: Wren who wrote (14)	8/27/1998 5:40:00 PM
From: Wren	Read Replies (1) \| Respond to of 20

Will the HOT abandonment of REIT status, and the resulting dividend cut, cause income investors to bail out over the next weeks as they discover the dividend cut? I believe this could result in a substantial drop in the stock price unless there are a lot of buyers who believe that HOT is a good buy as a growth stock or unless the company buys a lot of stock. I bailed out today. (A news release today indicated abandonment of REIT paired status, change to C Corporation status, a substantial earnings charge to set up the deferred tax account required by the C status, and a substantial reduction in the quarterly dividend amount.)