Legacy Hotels (LGY.UN.TO)

DON'T BUY
Have held off on their distribution this period and next.
BUY
A good class of hotel. Dividend should be reinstated.
TOP PICK
(Top pick April 1/03. Down 4.4%.) Had expected a decrease in distributions, but they cut them entirely. A good move as they should try to conserve cash at this time. Trading at or below 50% of replacement costs. Hotel environment should improve.
HOLD
Could be a potential buy. Will come back.
DON'T BUY
Cut its distribution. Concerned about the hotel industry. It will take a while. Prefers Fairmount Hotels.
HOLD
Have just cancelled the current distribution. Long term should improve with increased travel.
DON'T BUY
Has done very badly this year because hotel business is soft. Will have to start seeing a better economy.
DON'T BUY
Not hot on the resort industry. Wait for 6 months.
BUY
Have great assets. Business travel and conventions have been hit, but should end up OK. Speculative.
BUY
In the long run, it should be good if the economy recovers.
TOP PICK
Has been under tremendous pressure because of air line problems, cut back on business travel and the scare re: SARS. Probably at its bottom and expects an upward swing in the next 12 months.
HOLD
Have had good reservation per room stats. Good assets.
DON'T BUY
Fully valued now.
WEAK BUY
Has performed well. Towards the higher end of valuation.
BUY
Sensitive to the economy. Top notch hotels.
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