TSX:HOT.DB.V - Post by User
Comment by
ArbProfiton Jul 30, 2019 5:08pm
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Post# 29976809
RE:RE:Don't get too excited
RE:RE:Don't get too excitedThanks for the feedback. I agree with you. To buy back shares, management must decide that it's a better use of capital than their other investment options. Baring some absolutely incredible hotel purchases, which would be the opposite of what they have done so far, no buyback suggests they feel the share price is not as deeply discounted as some shareholders seem to believe. Management also used to dream of being large enough to be included in some significant indexes, but then their ability to issue shares evaporated.
I'm not bashing the stock, and I realize there have been management changes (sort ot), but any price target over $9 cdn is fantasy. I sold in the $7.40 range in Feb/March when we were given that gift of a bounce, and am considering buying again since they now have the cash to maintain the dividend even if FFO temporarily misses.
Things are moving in the right direction, modestly.
GLTA