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Posts Tagged ‘lifestyle properties’

Equity LifeStyle Properties Declares Q1 Dividends

March 9th, 2016 Comments off

equity_lifestyle_propertiesMHProNews has learned the board of directors of Equity LifeStyle Properties (NYSE:ELS) has announced a dividend of $0.425 per common share will be paid on April 8, 2016 to shareholders of record as of March 25, 2016. On an annualized basis this represents a dividend of $1.70 per share.

Moreover, according to businesswire, the board declared a dividend of $0.421875 per depositary share (each representing 1/100 of a share of ELS’ 6.75% Series C Cumulative Redeemable Perpetual Preferred Stock). On an annualized basis this represents a dividend of $1.6875 per share, payable on March 31, 2016 to shareholders on record as of March 10, 2016.

In other news, Gary Waterman, board member since 1993, has announced he will retire from the board of directors May 10, 2016, which will reduce the board members to ten.

Headquartered in Chicago, Equity LifeStyle Properties owns, or has an interest in, 388 manufactured home and recreational vehicle communities comprised of 144,244 home sites in 32 states and British Columbia, Canada. ##

(Image credit: Equity LifeStyle Properties)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Assetmark Increases Stake in Equity LifeStyle Properties

February 23rd, 2016 Comments off

equity_lifestyle_prop__hilltopmhc__credit_for_graph_feb_22_2016According to hilltopmhc, Assetmark increased its stock in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 74,692 shares and now holds 89,260 shares with a value of $5,228,220. It increased its hold by 512.7% and now represents 0.11% ownership.

The stock’s 200-day moving average is $61.60 with a 50-day moving average of $66.18. The 52-week high is $69.86. It closed at $69.70 yesterday, Feb. 22 after a steady upward trajectory over the last 200 days. The company has a market cap of $5.87 billion and a P/E ratio of 45.26.

In its last quarterly earnings report for Q4 2015, ELS missed analysts expectations by one penny per share, but had revenue of $12.69 million more than analysts consensus estimates.

As MHProNews knows, ELS has a controlling interest in over 370 manufactured home and recreational vehicle communities comprised of 140,000 plus home sites in 32 states and British Columbia, Canada. It is a real estate investment trust (REIT). ##

(Graphic credit: hilltopmhc–ELS 200-day moving average)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Equity LifeStyle Properties’ Director Sheds Stock

June 25th, 2015 Comments off

els california hawaiian, san jose calif  mhvillage  creditDavid J. Contis, a director on the board of Equity LifeStyle Properties, Inc. (NYSE:ELS) sold 5,000 shares of the company’s stock on Tue., June 23 at an average price of $53.65 for a total value of $268,250.00. Disclosed in a filing with the Securities and Exchange Commission (SEC), Contis now owns 22,180 shares of ELS valued at $1,189,857.00.

As MHProNews reported June 23, 2015, the value of the stock has increased +23.05 percent compared to the S&P’s gain of 7.51 percent in the same period. According to dakotafinancialnews, four analysts have issued a hold rating on the stock while two rate it as a buy.

In today’s trading, ELS closed down -0.74 percent at $52.56. The company, a publicly-traded real estate investment trust (REIT) is the largest owner of manufactured home and recreational vehicle communities in North America with 370 communities comprised of nearly 140,000 developed home sites. ##

(Photo credit: Equity LifeStyle Properties, Inc.–California Hawaiian, San Jose, California)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Battle Rages over Value of Manufactured Housing Communities

September 25th, 2013 Comments off

Following up on a post MHProNews last reported Sept. 3, 2013 regarding Equity LifeStyle Properties’ (NYSE:ELS) successful appeal of a sharp rise in taxes on two manufactured housing communities (MHCs) in Florida, over $200,000 in property taxes are once again at stake. Sarasota County Property Appraiser Bill Furst contends the value of Bay Indies in Venice has increased 23 percent over last year’s valuation to $47.3 million, while the value of Lake Village in Nokomis, FL rose 72 percent to $19.5 million. These are the same exact numbers he used last year that were denied. ELS has filed an appeal with the Value Adjustment Board, the same as last year. Tax increases are passed on to residents of the communities, resulting in the National Manufactured Home Owners Association (NMHOA) questioning the formula Furst used. According to heraldtribune.com, he is using the same methodology as before, sparking the same appeal from ELS. In April he sued ELS trying to force them to produce financial records for the two communities, but statutory law does not require it. In any case, residents will have to pay more if Furst succeeds in increasing the valuation.

(Photo credit: Equity LifeStyle Properties–Lake Haven MHC, Clearwater, FL)

UMH Properties Receives a Strong ‘Buy’ on its Stock

September 24th, 2013 Comments off

Brad Thomas documents the annals of UMH Properties, Inc., (UMH:NYSE) since its beginning in 1968 to its election to REIT (real estate investment trust) status in 1982, and being publicly traded in 1985 after issuing an IPO, as reported in seekingalpha.com. Although it is considered a small REIT because its market cap is $184 million and has assets of $384 million, Thomas notes since 2009 the number of land lease communities it owns has risen from 28 to 68, and the homesites nearly doubling to 12,800. The company owns 37 manufactured housing communities (MHCs) in the Marcellus Shale region where energy companies are expected to be drilling, attracting possibly thousands of job-seekers who will need housing. UMH also has a financing arm that sell homes to consumers. Revenue is expected to surpass last year’s, he says, and UMH pays a higher dividend yield at 7.38% than either Sun Communities, Inc., or Equity LifeStyle Properties, its two closest peers, as MHProNews knows. After driving near every angle of financing through a fine tooth comb resulting in many charts, graphs and formulas, Thomas initiates a buy on the stock at $9.75 a share.

(Photo credit: UMH Properties, Inc.)

RV Community and Marina purchased by Equity LifeStyle Properties

September 19th, 2013 Comments off

Equity LifeStyle Properties, Inc. (NYSE:ELS) has acquired Fiesta Key RV Resort, a 324-site resort and marina in the Florida Keys. Located in the Florida Keys on the Gulf of Mexico, ELS paid $24.6 million, according to 4-traders.com, funded with cash. As MHProNews knows, ELS is the largest owner of manufactured home and recreational vehicle communities with 377 properties in 32 states and British Columbia, Canada, comprised of 139,288 sites. ELS, a publicly-traded real estate investment trust (REIT) stock, closed up +0.46 percent at 35.52 in today’s trading.

(Photo credit: Equity LifeStyle Properties, Inc.–Lake Haven, Clearwater, Fla.)

Zell to Speak at National Communities Council Forum

August 15th, 2013 Comments off

The National Community Council’s Fall Leadership Forum will be held Oct. 16-18, 2013 at the W. Chicago City Center Hotel. Titled “Building a Vision for the Future,” Sam Zell, Chairman of Equity Group Investments and Equity International, which own Equity LifeStyle Properties, will be the featured speaker at the conference. Topics surrounding all aspects of manufactured housing communities (MHCs) will include The Future of Financing for Homes, Finding Ways to Improve the Customer Experience, and Learning from Innovative Smaller Operators. Other industry leaders are set to discuss combining traditional marketing with social media and mobile apps. As MHProNews knows, Zell’s Equity LifeStyle Properties is the largest owner of MHCs in North America. For more information contact Jenny Hodge at jhodge@mfghome.org.

(Image credit: National Communities Council of the Manufactured Housing Institute)

Equity LifeStyle Properties Wheels and Deals

August 2nd, 2013 Comments off

Chicago-based Equity LifeStyle Properties, Inc. (NYSE:ELS) reports the company finalized selling ten manufactured home communities comprised of 4,925 home sites. Received as part of the $1.5 billion Hometown America acquisition in 2011, the properties did not fit the core business strategy of ELS, and overall occupancy only reached 70 percent. Another manufactured housing community (MHC) with 419 home sites in Michigan is expected to close in this quarter, which would bring $165 million for all eleven communities into the company’s coffers,$41 million of it a gain. Additionally, fortmilltimes says the company acquired three MHCs in the Chicago metro area with 1,207 home sites for $102 million. ELS CEO Marguerite Nader says, “We are pleased with the execution on these transactions. We were able to redeploy capital from our sale of assets in non-core markets into three high quality manufactured home communities in the Chicagoland area to complement our existing assets in this market.” MHProNews knows ELS is the largest owner of manufactured home and recreational vehicle communities in North America.

(Photo credit: Equity LifeStyle Properties–country club in California)

Equity LifeStyle Properties to Release Q2 Financials

July 23rd, 2013 Comments off

Chicago-based, land lease community operator Equity LifeStyle Properties (NYSE:ELS) will announce its second quarter 2013 earnings report in a conference call Tue., July 23 at 11:00 AM. In its first quarter 2013 earnings data, ELS reported revenue of $190.59, beating the consensus estimate of $177.42. According to utahpeoplespost, the revenue for the first quarter increased 5.1 percent on a year-over-year basis. As MHProNews knows, ELS is the largest operator of manufactured housing and recreational vehicle communities in North America, with 383 properties comprised of 142,682 homesites.

(Photo credit: Equity LifeStyle Properties–Lake Haven, Clearwater, Fla.)

Glowing MH Industry C-Suite Interviews

June 21st, 2013 Comments off

cup-of-coffee-ani-150x150-The exclusive interviews of manufactured housing industry ‘C-Suite’ leaders, executives and business owners has fueled growing – and glowing – interest in readership here at MHProNews. These in turn yield an improved understanding and respect for the MH Industry at large by investors, professionals or researchers who also find and read the popular “A Cup of Coffee with…” (Cuppa) series of interviews our online trade media publishes.


Among the interviews that are up and coming will be A Cup of Coffee with…Tim Williams, CEO of 21st Mortgage Corp. Currently featured interviews with Equity Lifestyle Properties (ELS) CEO, Marguerite Nader and Cavco Industries Chairman, Joe Stegmayer are hot reads which have boosted readership in other news, commentary and featured articles on the MHProNews website.
 
Previous interview articles can also be accessed. These include award winning manufactured housing retailer Mike Evans, MHCommunities movers and shakers Randy Rowe and Sam Landy, industry lenders such as Triad’s Don Glisson Jr. or First Guarantee Mortgage’s Andrew Peters, elected officials such as Joe Donnelly, association leaders and dozens of others found at the Cuppa link. Readership here currently averages over 6000 daily – imagine that as being more than attend the Louisville and Tunica trade shows, plus MHI’s annual Congress and Expo – combined. That’s over 150,000 visits and some 1.4 million page views monthly, far and away the most for all the major industry news sources combined. ##