NEW YORK Analyst Jim Sullivan of Prudential Securities confirmed his “strong buy” rating on the hotel segment of the REIT industry. “In our view, valuations are lower than they should be if we are about to experience a soft landing,” Sullivan told clients in an intraday research note.
Among stocks in the hotel REIT business, Hospitality Properties is up 44 cents to $22.19, Host Marriott is tacking on 31 cents to $11.50, FelCor Lodging Trust is moving up 38 cents to $22.69 and Equity Inns is gaining 13 cents to $5.69. On Monday, all of those stocks lost ground, after Bear Stearns downgraded the lodging industry, citing concerns about the economy. (12/6/00)