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We Don't Need No Stinkin' Rally: Eye on Hotel REITs

BEE's shelf registration will stay . . . on the shelf! It's hardly possible for it to issue any securities with a share price under a buck. It lives or dies with what's on the balance sheet now.

We Don't Need No Stinkin' Rally: Eye on Hotel REITs

People make fun of the Yahoo chat boards, but we've been all over REIT preferreds since October. SHO is one of the most liquid REIT's in the market, and it flowed plenty of cash from operations even in a dismal Q4. HPT preferreds have become very cheap the last few weeks. BEE is a bad shape, no doubt, but it did just handle its credit line, and it flowed a little cash in Q4. It should make it so long as there is some recovery in the next year or two.

Hotels are not necessarily the most solvent REIT's out there, as pointed out above. Lending REIT's NRF and RAS have preferreds on sale, as does the apartment REIT AIV. None of these companies have any serious liquidity challenges coming up.