I was wondering if anyone also owned/owns Landmark Apartment Trust of America (LATA) REIT shares as well as HTA? It appears that they have not being doing as well as HTA. If anyone had a long term opinion on LATA, I would like to hear it. If you have sold, how you went about doing it and how much you ended up with per share? I am holding in hopes that they go public, however I have no idea of the timeline or if that will ever happen.
LATA is a disaster. With the foreclosure trends and high demand on apts, I have no idea why LATA is doing so badly. I fear it is a mgmt problem and not a market issue. Money was cheap and they could have got great refinance rates on their long term paper, yet their $$$ performance is terrible.
It is not saleable, so it is a HOLD by choice (or no choice to sell).
LATA has reduced the price of their common stock from $10.00 a share to $8.15 a share. In addition, they have also created other classes of shares, Series A Cumulative Non-Convertible Redeemable Preferred Stock, Series B Cumulative Non-Convertible Redeemable Preferred Stock, Series Preferred Class A and Preferred Class B shares. I have a feeling even after they go public common stock might not be redeemable for a while or their value reduced even further. I guess I also consider it a forced hold. Thanks for the feedback.