First read ...Looks good. Nothing really disappointing for me. Good overview by PJS and appears this is inline with what others are reporting in the hospitality industry. Appears those economy hotels are doing nicely.
But what is going to be the next pps driver? I think another small increase in dividend won't do it. In mean time, I guess I will add some...and I earlier thought that 5ish was a pps floor. Guess I can't complain, buy low etc...
08/05/08 - Robert W. Baird NEW YORK, August 5 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Supertel Hospitality, Inc (SPPR), while reducing their estimates for the company. The target price has been reduced from $6 to $5. http://www.newratings.com/en/main/company_headline.m?id=1787425
I am thinking gas and energy prices will be the key driver here. They both are under pressure to the downside for now ;-)
Seen corn or wheat futures lately? Darn bottom about fell out of those. Yum....Pork Bellies!
Agreed, looks good! The stock has been trashed as if there is something terribly wrong and the numbers show there isn't. Important number FFO (funds from operation) $.26 vs. $.24 shows not only improvement but solid coverage of the dividend. Positive developments include getting a big chunk of debt converted to fixed rate and issuing the preffered stock to clean up the balance sheet. All-in-all the company is in better shape than it was a year ago. The dividend is up. But the stock is down a third. I think SPPR is a real safe place to put your money and to recommend to your friends.