Hospitality Properties Trust (NYSE: HPT) today announced that it has suspended its regular quarterly distributions to common shareholders for the remainder of 2009. The suspension of common share distributions is the result of current conditions in the capital markets. HPT currently expects that it will realize substantial net income for financial reporting purposes in 2009, and HPT expects that its distributions to its common shareholders in 2009 will be at least equal to the minimum amounts required in order for HPT to remain a real estate investment trust, or REIT, for federal tax purposes. However, the severe current limitations on the availability of capital to meet HPTâs obligations which are senior to the interests of HPT common shareholders, including debt maturities in 2010-12, have caused HPT to suspend payment of common share distributions at this time. http://www.financials.com/custom/cbig/story1.cfm?storynum=3779973&csymbol=HPT
I am sure the REIT will be up 40% tomorrow on the "good" news, that has been the pattern in that sector lately