an account with Paine Webber. Litt pulled the plug on you guys and he's probably the most respected REIT analyst. Instead of continued speculation about the reasons for the decline a copy of Litt's report (probably not prepared yet, but will be shortly) should be obtained and the highlights posted.
I don't have a position as I sold out about a year ago but I've followed this board infrequently for a year. The one theme I have noticed is that FCH management seems to have always been overly optimistic about the future. Seems like it's happenning again...see slowness the next couple of quarters but next year looks good.
How in the world can anybody predict what will happen with occupency next year? Yes, they obviously have fairly reliable estimates of the properties they'll have renovated by then but fill rate and occupency?? And based on an earlier poster's remarks missing occupancy by a few percentage points hits FFO hard.
My guess is there is a credibility issue with management right now and you won't see the Litt's of the world upgrade until they actually see the numbers improve.
Just the opinion of a distant outside and former shareholder.