Legacy Hotels REIT
formerly Toronto symbol LGY.UN, owns luxury hotels in Canada and the United States. The company went private in 2007.
LEGACY HOTELS REIT $12.37 (Toronto symbol LGY.UN; SI Rating: Extra Risk) has accepted an all-cash takeover offer worth $12.60 a unit from InnVest REIT and a group led by the Caisse de depot et placement du Quebec.
Under the agreement, the Caisse de depot will take over Legacy’s large Fairmont managed hotels and InnVest REIT will acquire the Delta hotels.
The deal …read more »
LEGACY HOTELS REIT $12.11 (Toronto symbol LGY.UN; SI Rating: Extra Risk) has confirmed that it has received several nonbinding takeover offers worth about $12.60 a unit. That’s well below earlier expectations of up to $15, and the units fell 16% on the news.
Legacy shot up to $14 in March after it announced it was conducting a “strategic review”, including a …read more »
LEGACY HOTELS REIT $11.24 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 25 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City.
Legacy lowered its losses in the three months ended December 31, 2006, to $2.6 million or $0.03 a unit from …read more »
Starting in 2011, Ottawa will impose a tax on income trust distributions that will put the income trusts on an equal tax footing with conventional taxable corporations. Trusts will pay a 31.5% tax on distributions to unit holders, so your cash flow from those trusts will fall by the same amount.
However, if you hold trusts outside of registered plans such …read more »
LEGACY HOTELS REIT $9.43 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 25 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City.
In the three months ended September 30, 2006, Legacy’s revenues rose slightly, to $223 million from $221.6 million. Cash flow …read more »
LEGACY HOTELS REIT $8.15 (Toronto symbol LGY.UN; SI Rating: Extra Risk) owns 24 luxury hotels with over 10,700 guestrooms in Canada and the United States, including The Fairmont Royal York in Toronto and the Fairmont Le Château Frontenac in Quebec City. Fairmont Hotels & Resorts Inc. owns 23.7% of Legacy, and manages all of its hotels.
In the three months ended …read more »
IUNITS S&P/TSX CAPPED REIT INDEX FUND $14.22 (Toronto symbol XRE; buy or sell through a broker) holds 12 Canadian real estate investment trusts (REITs). In the Capped REIT Index, the weight of any one REIT, in terms of market capitalization (unit price times units outstanding), is limited to 25%.
RioCan REIT makes up 24.6% of the index’s value; H&R REIT, 14.7%; …read more »
