American Hotel Income Properties REIT 6 00 Convertible Unsecured Subordinated Debentures T.HOT.DB.V

Taking a flyer

[Sirlostalot]

Hello, was in this name prior to Covid at around $7, rode it all the way down to $1 and change and got out around $4 , have not followed it much but always liked the idea of secondary markets , any thoughts on taking a flyer here ? I know some of you really know the company well , seems like it is ether a great entry point or will soon be bankrupt , any thoughts appreciated

[FernandoPessoa]

There was a recent development in regards to certain hotel appraisals, which, I believe, were accepted by their lenders and this documentation helps improve their liquidity situation for the next year. I believe the target price among Canadian analysts is appromixately one dollar Canadian. The  Canadian small cap or microcap REITS impacted by dramatically and drastically higher interest rates

[Sirlostalot]

Hello Fernando , thanks for the insight , much appreciated. 

[Zoolanders21]

The key metric to look at here is NAV Net asset value. They are sitting on a portfolio of great hotel assets in good locations worth over $1 billion, which is evident from the recent appraisals of the assets securing the credit facilitiy. Total liabilities are about 65% of NAV. Note the fnancials are in US dollars as well. So current CDN stock price of $0.70 per share has the company valued at $40

[borne2run]

great hotel assets In a word, NO.  Read the recent press release.  Portfolio of 20 properties was appraised at $138k per key.  At usd 50 cents, the stock was trading at an implied enterprise value of $98k per key.  What's the value of the hotels not in the credit facility?  Management doesn't say. Let's assume that the key value for those rooms also averages

[FernandoPessoa]

A large Canadian bank REIT analyst(s) probably shares your pessismism, but at the same time they, perhaps grudingly, list HOT.UN as trading at the largest discount to net assest value of virtually all the Canadian REITS they cover. But the fact there is so little insider buying may cause some investors to think something else is going on beneath the surface. One of my concerns with H&R: they