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No. of Recommendations: 1
I bought HPT for the yield, and when prices went so high, I switched to SNH preferred going from below 8.5 yield for HPT to over 10% yield. The SNH preferred also seemed safer.

I sold EOP because of a ML (I think) report that confirmed my concerns about their California and Boston exposure, and traded into RA. I take the point of view that since the market is more or less efficient, it doesn't really matter. I don't care that much for RA, but I try to stay fully invested.

I sold CPJ because I thought management screwed up when they had so much trouble with bad debt. I already have MHC and SUI, so I wasn't sure where to put the money. I have less than 3% cash, so I don't feel a great urgency to spend it.

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