Eagle Hospitality Trust (“EHT”) delivered a set of extremely disappointing Q4 FY2019 earnings which represented a significant decline of 14.7% of their net property income against IPO projection. Consequently, EHT also slashed their dividend distribution by a whopping 24.4%. relative to IPO forecast. The first announcement I came across was an "Improvement to the Master Lease Agreement" which allows EHT to receive more rent from any outperforming properties that produce excess cashflow. 80% of the excess cashflow can then be applied against shortfalls from underperforming properties. To me, this seems nothing more than an appeasement policy to pacify unit holders. True enough, when I opened up the main results announcement, I was shocked beyond words against the disastrous results. 

Reasons for the poor performance1. Displacement from its largest asset, Holiday Inn Resort Orlando Suites ("OHIR"). OHIR is currently still undergoing roof repair works on the heels of a cateogry 5 hurriance...