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La Quinta Properties Inc. (LQI) Message Board

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  • Vaalie60 Vaalie60 Feb 19, 1999 3:58 PM Flag

    noon market

    My wife and I got through to the CFO this
    morning, after which she bought 1,000 shares for her
    portfolio. (I didn't buy today -- I'm already in deep --
    still, I may sell some lower-yielding stuff and buy more
    anyway.)

    To sum it up, CFO states that there is nothing new
    since the latest press announcement. I asked about the
    recent Merrill Lynch 13G filing, showing ownership of
    8.4 million shares -- was this related to the FEIT?
    He was not aware of the filing, but said that they
    are planning to settle up the FEIT within the next
    couple of months by paying back $92 million on their
    debt to Merrill -- this will presumably cancel the
    shares.

    My Conclusion: Merrill will not be dumping the
    shares on the market -- if that is what has been
    upsetting the stock price. Buy with confidence! (Where else
    can one get such a safe, almost 15% yield?)

 

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