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Posts Tagged ‘real estate investment trust (REIT)’

Sun Declares Two Stock Dividend

September 20th, 2013 Comments off

Southfield, Michigan-based Sun Communities, Inc. (SUI) has declared a $0.63 dividend per share of common stock for the third quarter of 2013, payable Oct. 18, 2013 to shareholders of record Sept. 30, 2013. The board of directors of this real estate investment trust (REIT) also declared a dividend per share of $0.4453125 for the company’s 7.125% Series A Cumulative Redeemable Preferred Stock payable Oct. 15, 2013 to shareholders of record Oct. 2, 2013. According to marketwatch.com, the preferred stock was issued Nov. 12, 2012. MHProNews knows Sun owns and operates a portfolio of 185 manufactured housing and recreational vehicle communities comprised of 68,200 developed sites.

(Photo credit: Sun Communities, 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.)

UMH Properties’ Samuel Landy to Present at Conference

August 21st, 2013 Comments off

Manufactured home community owner UMH Properties, Inc. will be presenting at the BMO Capital Markets 8th Annual North American Real Estate Conference Sept. 16-17, 2013. To be held at the Trump International Hotel in Chicago, Illinois, Samuel A. Landy, UMH president and CEO, and Anna T Chew, CFO of UMH, will be presenters during the conference, according to sacbee.com. In addition to owning a portfolio of real estate investment trust (REIT) securities, MHProNews knows UMH owns and operates 68 manufactured home communities comprised of 12,800 developed home sites in seven states east of the Mississippi.

(Photo credit: UMH Properties, Inc.)

Sun Communities to Offer Q2 2013 Results

July 25th, 2013 Comments off

Manufactured Housing Community owner Sun Communities, Inc. (NYSE:SUI) will release its Q2 2013 financials before the market opens Thurs., July 25, to be followed by a conference call at 11 a.m. that same morning. For the first quarter of this year revenue increased 24.4 percent over the same period last year. The company has a one-year low of $36.15, a one-year high of $57.78, and a 50-day moving average of $50.34. Sun fell -3.06 percent Wed., July 24 to close at 51.02. The dailypolitical reports Sun’s market cap is $1.887 billion and the P/E ratio is 281.44. As MHProNews knows, Sun Communities is a real estate investment trust (REIT) that owns and operates 380 manufactured housing and recreational vehicle communities comprised of 67,380 developed sites.

(Photo credit: Sun Communities, Inc.)

Ryan Bowie, Fresh Face at Green Courte

July 11th, 2013 Comments off

Private equity firm Green Courte Partners, LLC, of Lake Forest, Ill. has chosen Ryan Bowie as Managing Director in charge of investor relations, portfolio management and fundraising. Having spent 13 years in public and private real estate companies, including stints with Hyatt Hotels Corp. and Strategic Hotels and Resorts, Bowie has completed over $7 billion in debt and equity transactions over his career, as MHProNews has learned from Green Courte. At Hyatt he served as Head of Structured Finance, focusing on corporate development, capital markets and capital deployment. Green Courte Partners is a Chicago-based real estate investment trust (REIT) with holdings in manufactured housing communities.

(Image credit: Green Courte Partners, LLC)

UMH Declares Quarterly Dividends

July 3rd, 2013 Comments off

Manufactured home community owner UMH Properties, Inc. has declared a quarterly cash dividend of $0.18 a share on the company’s common stock payable Sept. 16, 2013 to shareholders of record Aug. 15, 2013. In addition, the board of directors announced a quarterly dividend of $0.51562 per share for the company’s 8.25% Series A preferred stock also payable Sept. 16, 2013 to shareholders as of Aug. 15, 2013, according to noodls.com. As MHProNews knows, real estate investment trust (REIT) UMH owns and operates 68 manufactured housing communities with 12,800 developed home sites, and also maintains a portfolio of REIT securities.

(Photo credit: UMH Properties, Inc.)

Sun Declares Quarterly Dividend

June 20th, 2013 Comments off

Manufactured housing community owner Sun Communities, Inc. (NYSE:SUI) announces a quarterly dividend of $0.63 per share for investors of record as of June 28, 2013, payable on July 19, 2013. Represents a dividend yield of 5.06 percent, according to watchlistnews, with an ex-dividend date of June 26. With a 50-day moving average of $51. per share, sun has a market cap of $1.844 billion and a profit-to-earnings ratio of 266.15. The stock closed Wed., June 19 at 46.81. As MHProNews understands, Sun is a real estate investment trust (REIT) that owns 185 manufactured housing communities comprised of 67,380 developed sites.

(Photo credit: Sun Communities, Inc.)

Sun Communities Touted as Good Investment

June 5th, 2013 Comments off

According to insidermonkey, Sun Communities, Inc. (NYSE:SUI), a real estate investment trust (REIT) that owns and operates 184 manufactured housing and recreational vehicle communities, returns a higher dividend yield (5.0% versus 2.6% for Equity Lifestyle Properties, Inc.) and is more capital efficient (ELS has a higher capex-to-sales ratio of 4.1 % versus 2.6% for Sun) than its closest rival. For home buyers in search of low cost housing, the Manufactured Housing Institute (MHI) reports in 2011 the average sales price for a manufactured home was $60,600 compared to a site-built, single-family home cost of $207,950. In addition, average rent for Sun’s manufactured homes is $0.55 per square foot versus $0.92 per square foot for an apartment. But because most Sun residents own their own homes but rent the land, the company’s capital outlay is primarily for maintenance of common areas and amounts to less than three percent of its revenues for 2012, its most recent 10-K. As MHProNews knows, Sun has 67,000 developed homesites in 18 states.

(Photo credit: Sun Communities, Inc.)

Sun Secures Line of Credit

May 17th, 2013 Comments off

According to what 4-traders tells MHProNews, Sun Communities, Inc. has secured a $350 million revolving line of credit with the option for an additional $250 million. The secured loan has a four-year term but can be extended for an additional year. Interest on the loan is floating, and can range from 1.65% to 2.90%. The company’s current revolving $150 million line of credit which was scheduled to mature October 1, 2014 has been replaced with this new loan. Sun is a real estate investment trust (REIT) which owns and operates 184 communities comprised of 67,700 homesites.

(Photo credit: Sun Communities, Inc.)

UMH Moved to Buy

May 16th, 2013 Comments off

According to utahpeoplespost, real estate investment trust (REIT) UMH Properties, Inc. was upgraded by analysts at TheStreet from a hold to a buy position, as reported by AnalystRatingsNetwork. The company has strong growth in revenue and net income, good return on equity and earnings per share, and reasonable valuation levels. AnalystsRatingsNetwork says, “We feel these strengths outweigh the fact that the company shows weak operating cash flow.” A quarterly dividend scheduled for June 17th will yield a return of $0.18 per share to share holders on record as of May 15, 2013. UMH stock (UMH:NYSE) closed at $11.01 Wed., May 15. As MHProNews knows, UMH owns and operates 68 land lease communities in seven states comprised of 12,800 homesites, as well as a portfolio of REITs.

(Image credit: UMH Properties, Inc.)