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  Date Issued    5/24/2016 Shares Offered   7,000,000   Overallotment Shares  1,050,000 S&P Rating   NR   Moodys Rating   NR Security Ticker Symbol   HT-D     OTC Temp Ticker   HRHPP Market Traded ON   NYSE Dividend Payment Paid on the 15th of January, April, July and October beginning on 07/15/2016 Quarterly Dividend   .40625   Annual Dividend   1.625 Securities may…

Once again a lodging REIT has sold a new preferred stock offering with a coupon that we consider too low for the risk/reward proposition.   Hersha Hospitality Trust (NYSE:HT) is executing a “refinancing” of the currently outstanding 8% cumulative preferred stock (NYSE:HT-B) with a new 6.50% preferred stock issue.  The company has 1 additional issue outstanding that carries a coupon…

LaSalle Hotel Properties (NYSE:LHO) and Gladstone Commercial Corp (NASDAQ:GOOD), both REITs, have sold new preferred shares. LaSalle Hotel Properties is an owner of upscale hotel properties that are located primarily on the east and west coasts of the United States. While LHO has operated effectively for the last number of years, we are not enamored with the 6.3% coupon on…

Only 9 trading days ago the REIT index (Vanguard REIT ETF NYSE:VNQ) that we follow as a proxy for the entire Real Estate Investment Trust market hit a new 52 week high and now, in a blink of an eye (or 3 days), the index has fallen by 5%. In our opinion the REIT sector was overheating again as investors…

Issue Date  5/16/2016 Shares Offered  9,000,000   Over-allotment  1,350,000 S&P Rating  NR   Moodys Rating  NR Security Ticker Symbol   AMH-D  OTC Temp Ticker  AMHHP Market Traded ON   NYSE Dividend Payment Paid on the last day of March, June, September and December beginning on 6/30/2016 Quarterly Dividend   .406          Annual Dividend   1.625 Securities may be redeemed, at the issuers option, as…