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Posts Tagged ‘randall k rowe’

Sun Posts Positive Returns for Q2, 2015

July 30th, 2015 Comments off

Sun_CommunitiesSun Communities, Inc. (NYSE:SUI) reported earnings of $0.87 per share for the second quarter, besting analysts expectations by $0.04 per share, and besting earnings for the same quarter last year by $0.09 per share, according to dakotafinancialnews. Sun’s revenue was up 40 percent on a year-over-year basis, $165.90 million for the quarter over analysts’ expectations of $151.49 million.

The company issued a quarterly dividend to shareholders of $0.65 per share on Friday, July 17, representing a $2.60 annual dividend and a yield of 3.86 percent.

Separately, on June 19, 2015, as disclosed in a filing with the Securities and Exchange Commission (SEC), Director Randall K. Rowe purchased 25,664 shares of Sun at $50.00 per share with a total price of $1,283,200.

In today’s trading, Sun closed at $68.87, up +2.35 percent. The company has a 52-week low of $49.36 and a 52-week high of $71.40. The 50-day moving average is $64.95. Sun’s market capitalization is $3.70 billion, and the price-to-earnings ratio is 147.80.

MHProNews understands Sun Communities, Inc. owns and operates a portfolio of 217 communities, which includes 183 manufactured home communities (MHC), 25 recreational vehicle communities (RVC) and nine properties which contain both MH and RV. ##

(Image credit: Sun Communities, Inc.)

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

Manufactured Housing’s Sunday Morning Weekly News Recap June 28 to July 5, 2015

July 5th, 2015 Comments off

Sunday_morning_recapOur goal in presenting news and views from the manufactured and modular home industry is to help you, our readers, make the best possible decision in your business. To that end, we continue to upgrade our presentation to better inform you.

In this week’s news you will read of developments at Cavco, ELS, Patrick, UMH and SSK Communities. Find out what is going on in Red Bay, Alabama at Sunshine Homes. Will Millennials turn to MH for affordable housing? Amendments allow city-wide MH siting, while CFPB’s MH appraisal rule takes effect July 18. Much, much more.

What’s New on ManufacturedHomeLivingNews.com

http://manufacturedhomelivingnews.com/brad-pitt-making-it-right-with-modular-homes-for-new-orleans/

http://manufacturedhomelivingnews.com/video-inside-mh-with-john-and-pam-bostick-president-and-ceo-ofsunshine-homes-manufactured-and-modular-home-builder-red-bay-al/

http://manufacturedhomelivingnews.com/video-senior-service-tech-jon-johnson-compares-apartments-houses-to-modern-manufactured-homes/

What’s New in Daily Business News

July 4, 2015

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/restrictions-lifted-on-manufacturedhomes-siting/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/celebrating-independence-day-happy-4th-of-july/

July 3, 2015

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/gendell-sheds-another-chunk-of-patrick-stock/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/equity-lifestyle-acquires-recreational-vehicle-resort-in-florida/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/stock-market-closed-in-honor-of-independence-day/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/labor-shortage-to-hinder-housing-growth?

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/robot-builds-brick-house-in-two-days-will-it-impact-manufactured-housing/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/rentals-increasing-for-umh-date-set-for-releasing-q2-2015-results/

July 2, 2015

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/skyline-outshines-dow-and-other-manufactured-housing-stocks/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/redeveloping-land-lease-community-put-on-hold-again/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/attack-on-state-rep-hastens-contract-for-modular-housing/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/manufactured-housing-on-table-for-uk-affordable-housing-confab/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/the-greenback-boogie-cfpbs-manufactured-housing-appraisal-rule-hits-july-18-2015/

July 1, 2015

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/urban-land-institute-chooses-randall-k-rowe-as-chairman/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/sylvia-silver-mother-of-daily-business-news-writer-matthew-silver-dies-at-101/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/mhcv-advances-most-manufactured-housing-stocks-rise-nobility-drops/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/mammoth-modular-project-in-nyc-moving-forward-again/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/capital-one-arranges-financing-for-manufactured-home-community/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/new-july-2015-issue-of-mhpronews-featured-articles-scheduled/

June 30, 2015

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/proposal-restricts-siting-of-manufactured-homes/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/home-ownership-for-millennials-could-lead-to-manufactured-homes/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/mhcv-slips-manufactured-home-stocks-quiet/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/ssk-communities-plans-revamping-of-manufactured-home-community/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/cavco-will-retain-fairmonts-employees-expand-its-customer-base/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/appraisal-rule-implementation-looms-for-hud-code-manufactured-home-sales/

June 29, 2015

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/manufactured-housing-institutes-national-modular-housing-council-reports-dip-in-q1-modular-home-shipments/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/greek-banks-closed-prs-gov-says-cant-pay-debt-dow-plunges-and-mhcv-sheds-3.5 %

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/experts-compare-manufactured-homes-to-apartments-and-conventional-houses/

http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/another-attempt-by-locals-to-regulate-manufactured-homes-that-violates-federal-law/ ##

(Photo credit: MHProNews)

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

Urban Land Institute Chooses Randall K. Rowe as Chairman

July 1st, 2015 Comments off

randall_k_rowe__google_images__june_2015Randall K. Rowe, Chairman of Green Courte Partners, LLC has been chosen to lead a global organization dedicated to creating communities that are livable, economically prosperous and environmentally sustainable. As Global Chairman of the Urban Land Institute (ULI), an education and research non-profit founded in 1936, Rowe will have three primary responsibilities: promote knowledge sharing among the 35,000 members; funding; and continuing to spread the mission of the organization globally, since it has been a mostly U. S. focused organization.

ULI has this energy, this sense of possibility and strength that is very exciting. We are only beginning to realize the very real impact ULI can have around the world — the part our organization can play in creating communities that change people’s lives by making them better,” Rowe said. “We must keep the momentum going by offering new opportunities for engagement, to share lessons learned and exchange ideas about what works best. What we’re doing only has value if the knowledge gleaned is distributed, utilized and enhanced.

Key to global expansion of the Institute’s goals is shaping local land use decisions to the various societies and cultures that constitute the world, as MHProNews understands.

ULI Global Chief Executive Officer Patrick L. Phillips said, “We are very excited to have Randy at the helm. He is thoughtful, he is innovative, and he is a doer who will guide ULI to new levels of excellence in land use leadership,” according to prnewswire.

Rowe has a long history of involvement in numerous capacities at ULI, especially in the Chicago metro area where Green Courte is located. He has extensive experience in real estate investments, particularly in the acquisition and development of manufactured home communities (MHCs), at one time as CEO of Hometown America, LLC, and now with Green Courte.

In addition to several non-profit board memberships past and present, he also serves on the board of Sun Communities, Inc., an owner of 251 manufactured home and recreational vehicle communities. ##

(Photo credit: Google images–Randall K. Rowe)

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

Insider Trading at Sun Communities: Randall K. Rowe

June 24th, 2015 Comments off

randall_k_rowe__google_images__june_2015MHProNews has learned that Randall K. Rowe, a member of the board of directors of Sun Communities, Inc. (NYSE:SUI), acquired 25,664 shares of company stock at $50.00 per share June 19, 2015 for a total value of $1,283,200.00, according to a required filing with the Securities and Exchange Commission (SEC). The company stock closed today at $63.33, down -0.19 percent.

Analysts at Zacks issued a buy rating on the stock with a target price of $70.80 in a research note May 1, 2015. Four analysts have rated the stock a hold and one has rated it a buy. Sun has a one-year high of $71.40 and a one-year low of $49.07. Its 50-day moving average is $62. and its 200-day moving average is $64, according to wkrb13.

Sun last issued a quarterly earnings report on April 23, beating the consensus estimate per share by $.04 and the revenue estimate by nine percent.

As MHProNews posted June 5, 2015, the company declared a quarterly distribution of $0.65 per share of common stock for Q2 2015, payable July 17, 2015 to shareholders of record as of June 30, 2015.

The real estate investment trust (REIT) owns and operates 251 manufactured home and recreational vehicle communities comprised of 93,100 developed sites. ##

(Photo credit: Google Images–Randall K. Rowe)

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

Sun to Acquire MHC Portfolio of Green Courte

July 31st, 2014 Comments off

sun communnities communityMHProNews  has been informed that Sun Communities, Inc. (NYSE:SUI) has agreed to acquire a portfolio (the “ALL portfolio”) of 59 manufactured home communities from Green Courte Partners, LLC (GCP) comprising over 19,000 homesites for approximately $1.32 billion, including the assumption of $560 million debt. Nearly 14,000 of the sites, 73 percent, are age-restricted, and just under 11 percent are in Florida. Sun will pay $311 million in cash and issue a combination of stock and Operating Limited Partnership units with a value of $437 million to GCP investors. In addition, GCP will invest $13 million in Sun’s equity and will own approximately 11 percent of the company. Randall K. Rowe, Chairman and Founder of GCP, and James Goldman, Vice-Chairman and Chief Investment Officer at GCP will become board members.

Gary Shiffman, Chairman and CEO of Sun, headquartered in Southfield, Michigan, noting the added scale and diversity derived from this acquisition which will strengthen its position in Florida, says, “We believe this transformative transaction positions us as a best-in-class player in the industry and enables us to drive shareholder value going forward.” He adds: “Looking forward to the first year under the Company’s ownership and operation post-acquisition, the Company has underwritten the transaction at an estimated 6.0% cap rate based on projected Year 1 NOI and expects the acquisition to be approximately 5.0% – 8.0% accretive to 2015 FFO per share.”

Randall K. Rowe commented: “We believe the combination of our manufactured home business with Sun Communities will create an industry leading growth platform. I am excited to be joining Sun Communities’ Board of Directors and look forward to contributing to the long-term success of this enterprise.” The transaction is expected to close in two stages, beginning near the end of 2014. ##

(Photo credit: Sun Communities, Inc. community)