This company recently sent an unsolicited tender offer of 3 dollars a share, and then plans to redeem for its real value of 11 dollars a share. This gain for them will be at the expense of thousands of other Apple shareholders, since it is their reinvested dividends that will pay them 11 dollars.
This is a rip of with a capital R! They are a terrible outfit who profits off of fear and lies.in the tender offer, they admit they have not appraised the properties, and are not qualified to do so. They are strickly low-balling.
I have been an Apple Reit shareholder for over 6 years now, and along with my family, and friends, and others, we have always been very very happy. They have never missed a dividend payment ever, and as far as I can see, these investments are very secure. I have stayed in many of the hotels, and it was a pleasure. Very busy, I may also add.in addition to that, Lerner and Associates keeps me informed of whats happnenig with seminars, meetings, and letters to shareholders. I am also thinking of putting some IRA $ into Apple 10 and earning 7.5 percent.
Eccleston also lied and said Finra (a Govenment Agency) is suing Lerner. First of all they are not a govenment agency, but funded by Wall st itself, and they are not suing. Meerly looking into a pricing issue, and have not filed suit. This is a very normal practice, and are also doing this to 10 or 20 other big name Wall st firms.
Dont believe the lies! Keep your 7 percent dividend, you will not be able to replace it. Stick with David Lerner like many of my friends and family, who are a group of smart investors, you will continue to be happy!
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