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Posts Tagged ‘REIT’

UMH Negotiating for Six more Manufactured Home Communities, Presenting at NAREIT REIT Week

June 8th, 2015 Comments off

umh_properties_creditMHProNews has learned Freehold, New Jersey-based UMH Properties, Inc. (NYSE:UMH) has agreed to acquire six manufactured home communities (MHCs) in Indiana, Ohio and Michigan for $68.6 million. The all-age communities contain a total of 2,200 developed sites, according to prnewswire. Barring any problems, the transaction is set to be finalized by the fourth quarter of 2015.

As MHProNews reported May 28, 2015, the company acquired a 158 MHC in western Pennsylvania for $3.5 million. UMH is a public equity REIT (real estate investment trust) that owns and operates 92 MHCs comprised of approximately 15,700 homesites, and also maintains a portfolio of REIT securities.

In addition, UMH will present at NAREITT (National Association of Real Estate Investment Trust)’s REITWeek, an investor forum to be held in New York City Tue., June 9, 2015 at 11:00 AM EDT at the Hilton Midtown Hotel. The presentation will be available live via webcast on the company’s website, http://ir.umh.com. A replay of the webcast will be available for 90 days following the presentation. ##

(Image credit: UMH Properties, Inc.)

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

Carefree Acquires Central Park in Florida

April 30th, 2015 Comments off

Carefree_Communities__April_2015Carefree Communities, Inc. of Scottsdale, Arizona acquired Central Park manufactured home (MH) and recreational vehicle (RV) communities in Haines City. Florida, April 23. Located 90 miles from Tampa and Orlando, the age-restricted 55+ Central Park MH has 110 homesites, and the Central Park RV community has 368 sites. Both communities have a lively social activities calendar, a priority for Carefree.

As prnewswire informs MHProNews, the company now owns and operates 102 MH and RV communities in the U. S. and Canada with 28,000 sites. A private real estate investment trust (REIT), Carefree bills itself as the fifth largest operator of MH and RV communities in the nation. This acquisition marks the 40th for the company in the last two years. Terms of the transaction were not disclosed. ##

(Photo credit: Carefree communities, Inc.)

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

Wall Street Scopes out ELS’ strong performance this week

January 9th, 2015 Comments off

equity-lifestyle-properties-collage-credit=els-posted-daily-business-news-mhpronews-The Wall Street Scope  tells MHProNews  that it has its analytical eye on Equity Lifestyle Properties (NYSE: ELS).

ELS closed yesterday at 54.94 +0.31 (0.57%). Scope’s report yesterday said that even during the prior week of sliding stocks, ELS has done well, citing the following facts:

Equity LifeStyle Properties, Inc. (ELS) is performing above average with a weekly performance of 5.32% moving this week with a quarterly performance of 28.51% and a 52 week low of 54.81%. Equity LifeStyle Properties, Inc. (ELS)’s monthly performance is  10.03% , profit margin 15.00%, 0.00% insider transactions and, Equity LifeStyle Properties, Inc. (ELS) is a buyer in the REIT – Residential industry with analyst rating of 2.2 for the trading day.

ELS owns and operates communities that are the polar opposite of the one shown in the Mission Trails story published on the Daily Business News earlier this morning. They are the largest firm in the manufactured home community sector, related story, linked here. ##

(Image credit: ELS)

Equity Lifestyle Properties stock Hits New One-Year High

December 23rd, 2014 Comments off


equity-lifestyle-properties-collage-credit=els-posted-daily-business-news-mhpronews-During trading on Monday, December 22, 2014, the price of Equity Lifestyle Properties (NYSE:ELS) shares hit a new 52-week high, which closed at
51.69 +1.32 (2.62%).

According to Intercooler, ELS has been the subject of a number of recent research reports including one conducted by analysts at TheStreet. As a result, on November 3, 2014, they upgraded ELS shares from a “hold” rating to a “buy” rating. They were last traded at $51.03, with a volume of 92,644 shares changing hands. The stock previously closed at $50.37.

Two research analysts have given the stock a “hold” rating and three have given a “buy” rating to the company. ELS currently has an average rating of “buy” and an average price target of $46.67.

ELS earnings in their quarterly release on October 20, 2014, reported $0.69 earnings per share (EPS) for that quarter. That exceed the consensus estimate of $0.68 by $0.01.

The company reported revenue of $200.56 million for the quarter. During the same quarter in 2013, the company posted $0.65 earnings per share, which was up 6.7 percent from the previous year. Analysts expect that ELS will post $2.69 EPS for the current fiscal year.

In addition, ELS investors saw new options begin trading this week for an August 2015 expiration, according to NASDAQ. The article stated that “One of the key data points that goes into the price an option buyer is willing to pay, is the time value. So, with 242 days until expiration, the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.”

The chart below shows the trailing 12-month trading history for Equity Lifestyle Properties (ELS), highlighting in green where the $50.00 strike is located relative to that history:  

  els-stock-track-credit=tickertech-posted-daily-business-news-mhpronews-com-

 

Per the ELS website, approximately seventy percent of their residents are 55+, and nearly two-thirds of their communities are marketed exclusively as age qualified communities. ELS boasts being #1 in the MHC space, with more than 370 communities and resorts with nearly 140,000 sites located in 32 states and British Columbia, Canada. ##

See ELS related articles:

(Graphic Credit: Equity Lifestyle Properties, TickerTech.com)

sandra-lane-daily-business-news-mhpronews-com-75x75-Article submitted by Sandra Lane to – Daily Business News – MHProNews. 

Manufactured Home Communities REIT Produces Significant Income in 2014

December 16th, 2014 Comments off


top-chicago-reits-credit=snlfinancial-chicagobusiness-posted-daily-business-news-mhpronews-com-ChicagoBusiness
   
reports that Chairman Sam Zell’s Equity Lifestyle Properties is the third most prosperous Real Estate Investment Trust (REIT) in Chicago. It seems that shares in the company have returned 42.5 percent this year, largely because of rising occupancies and rents and lower-than-expected expenses. 

The company boasts a 92 percent occupancy rate overall, which is the highest level in more than a decade, according to Green Street Advisors, a Newport Beach, California, research firm.

As MHProNews regular’s know, Equity Lifestyle Properties (ELS) is the largest manufactured home land lease community in the nation.

ELS owns and operates more than 370 communities and resorts in 32 states and British Columbia with nearly 140,000 sites. They have received several coquina-crossing-st-augustine-fl-equity-lifestyle-properties-els=credit-published-daily-business-news-mhpronews-com-)Community of the Year awards for the outstanding quality of their communities.

ELS is one of the stocks tracked by the Daily Business News manufactured housing connected market report. Thursday’s closing, by the numbers, was: (NYSE:ELS) 49.19 -0.57 (-1.15%). ##

(Editor’s Note: an MH focused interview and article, “The Point of the Spear” with Sam Zell, is found at this link).

(Photo credit: Coquina Crossing, St. Augustine, Florida. Equity Lifestyle Properties)

sandra-lane-daily-business-news-mhpronews-com-75x75-Article submitted by Sandra Lane to – Daily Business News – MHProNews.

UMH Properties touted as high dividend stock

November 20th, 2014 Comments off

umhlogo-on-gold-silver-background-shutterstock-posted-daily-business-news-mhpronews-The Wall Street Scope (WSS) said in a report on 11.19.2014 that UMH Properties Inc., a Real Estate investment Trust (REIT) focused on manufactured housing communities, currently providing a high dividend yield of 7.45% today and a return on investment of 1.40%.

WSS  tells MHProNews  that “UMH Properties Inc. (UMH) shares are currently trading at $9.63 and UMH Properties Inc. (UMH) has earnings per share of -0.27. UMH Properties Inc. (UMH)’s profit margin is -8.10%.”

UMH Properties is one of the manufactured housing connected stocks tracked in the Daily Business News market report. ##

(Image credits: Shutterstock/UMH Logo)

Manufactured Home Community REIT, Equity LifeStyle Properties, Inc. (ELS), given buy recommendation

November 17th, 2014 Comments off

els-logo+cheering-market-traders-shutterstock-daily-business-news-mhpronews-com-450x302-WallStreetScope  tells MHProNews  that Equity LifeStyle Properties, Inc. (ELS) closed Friday at $48.55, a change from open of  0.41% ($0.12 per share).  Equity LifeStyle Properties, Inc. (ELS) had a weekly performance of -1.64%, a monthly performance of  9.92%, and a quarterly performance of 9.42%.

Equity LifeStyle Properties, Inc. (ELS) is considered a buy, given the analyst rating of 2.2 for the upcoming Monday trading day and a market cap of 4,073.83 in the Financial sector of the Real Estate Investment Trust (REIT) in the residential housing industry sector.

As regular Daily Business News  readers know, ELS operates some 370 communities and resorts in 32 states and British Columbia with nearly 140,000 sites.

ELS is a stock tracked by the Daily Business News market report, see Friday link here. ##

(Image credits: ELS Logo and Shutterstock) 

Sun to Release Third Quarter Financials

October 8th, 2014 Comments off

sun communities as of 12-22-2012 owns palm creek golf and rv esort communitySouthfield, Michigan-based Sun Communities, Inc. (SUI) will release its Q3 2014 financial results on Thursday, Oct. 30, 2014 prior to the opening of the market followed by a conference call set for later that same morning, at 11:00 AM EDT, according to marketwatch.com. The conference call will be available live on Sun’s website www.suncommunities.com. As MHProNews knows, Sun is a real estate investment trust (REIT) that owns and operates 184 manufactured housing and recreational vehicle communities comprised of 69,580 homesites. ##

(Photo credit: Sun Communities, Inc.)

Origen Financial is Leaving the Building

September 23rd, 2014 Comments off

origen financial  logioReal estate investment trust (REIT) Origen Financial, Inc. of Southfield, Michigan, which manages interests in securitized loan portfolios backed by manufactured housing, will dissolve and liquidate after selling it assets to an affiliate of GoldenTree Asset Management LP for $47 million, according to the Manufactured Housing Institute (MHI). MHProNews has learned the company website says it manages a portfolio of $500 million in manufactured housing loans and asset-backed securities. ##

(Image credit: Origen Financial, Inc.)

UMH Income Rises in Second Quarter

August 8th, 2014 Comments off

umh_properties_creditFreehold, New Jersey-based UMH Properties, Inc. reports income for the second quarter of 2014 was $18,149,000 as opposed to $16,098,000 for the comparable period in 2013, according to marketwatch.com. Total expenses rose from $14,197,000 in Q2 2013 to $16,490,000, in Q2 2014, and income from community operations rose from $6,836,000 to $7,427,000 for the comparable period. Same store occupancy has risen to 82.6 percent from 81.3 percent one year ago. UMH recently upped its stake in the Utica Shale energy exploration region of Pennsylvania and Ohio by purchasing six manufactured home communities (MHCs) for a total price of $17.6 million, as MHProNews posted July 17, 2014 regarding four of the MHCs near Pittsburgh. UMH now owns 88 MHCs comprised of 15,100 homesites, as well as a portfolio of real estate investment trust (REIT) securities. ##

(Image credit: UMH Properties, Inc.)