Archive

Posts Tagged ‘s trading’

Drew Industries Makes the Grade

September 25th, 2013 Comments off

Combining the manufactured housing (MH) and recreational vehicle (RV) industries together, investors.com ranks the combination 19th out of 197 industry groups that Investors Business Daily (IBD) tracks. The group has seven members but only three are significant, MHProNews has learned. Manufactured housing’s sister business Thor Industries (THO) ranks number one, followed by Winnebago Industries (WGO) in the second spot, and Drew Industries (DW) fills out the third position due to its strong earnings growth over the last three years. Through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew supplies components to the MH and RV industries. Drew closed up in today’s trading, +0.32% to end the session at 43.84.

(Image credit: Drew Industries, 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.)

Bet on Universal Forest Products Inc.

September 5th, 2013 Comments off

Financial consulting firm D. A. Davidson, which provides advice on a wide range of financial products, has changed their comment on Universal Forest Products Inc. (UFPI) from neutral to buy, according to streetinsider.com. UFPI closed up +2.99% in trading, Thurs., Sept. 5, including after hours, to end at 38.12. The 52-week range is $32.56 to $45.60; the company’s profit last year was $23.7 million. Davidson says the stock is weak only because of overstated fears about the housing industry rebound, and that UFPI’s exposure to residential construction is only 20 percent. MHProNews knows Universal is a major supplier of wood and wood-like products to the manufactured and modular home industries.

(Photo credit: Universal Forest Products, Inc.)

Universal Forest Products, Inc. Sales Gain for Q2 213

July 18th, 2013 Comments off

Universal Forest Products, Inc. (UFPI) reports second quarter 2013 net sales of $738.4 increased 24.4 percent over the $593.7 net sales for the same period of 2012. Second quarter net earnings for 2013 equaled $15.8 million compared to $17.5 million for the same period 2012, although 2012’s earning included gains on the sale of real estate worth $6.9 million. Adjusted net earnings therefore for Q2 2012 actually equal $13.2 million. UFPI (NASDAQ:UFPI) states all five of its markets experienced double digit gains. It’s manufactured housing sector gross sales hit $109.5 million, an increase of 35.7 percent over the same period of 2012. As fortmilltimes informs MHProNews, UFPI is a holding company providing administrative, capital and management resources to manufactured housing and residential construction markets. Its stock gained +0.34% to close at 38.36 in today’s trading.

(Photo credit: Universal Forest Products, Inc.)

Cavco Stock Upgraded

May 31st, 2013 Comments off

MHProNews has been informed by tickerreport The Street has upgraded Cavco Industries, Inc. (NASDAQ:CVCO) from a hold rating to a buy rating, citing revenue growth, solid financial position with reasonable debt levels, and a rise in its stock price over the past year. Cavco was up +0.82% in today’s trading (May 30) to 47.93 and has a 50-day moving average of 46.15. Its market cap is $332.5 million and the company has a price-to-earnings ratio of 66.96. Cavco is the second largest producer of manufactured homes in North America, distributing their product through a network of independent and company-owned dealers.

(Image credit: Cavco Homes, Inc.)

Sun Communities, Inc. Declares Dividend

March 25th, 2013 Comments off

ZolmaxNews reports Sun Communities, Inc. (SUI) of Southfield, Mich. says it will pay a quarterly dividend of $0.63 per share on Friday, April 19 to investors of record April 1, 2013. Representing a $2.52 annualized dividend, the dividend yield is 5.29 percent. BMO Capital Markets, commenting on the stock, upgraded its rating from “market perform” to “outperform,” projecting a price target of $52.00. Sun’s stock was up 3.25 percent at the close of Friday’s trading at $47.68. The company has a market cap of $1.509 billion and a P/E ratio of 256.56. Analysts forecast Sun will gain $3.50 earnings per share this fiscal year. As MHProNews knows, Sun is a real estate investment trust (REIT) which owns and operates 183 manufactured home and RV communities comprised of 67,380 sites.

(Photo credit: Sun Communities, Inc.)

 

Forbes: Make a Killing with Killam?

December 5th, 2012 Comments off

Forbes reports one way to measure the level of fear in a stock is the Relative Strength Indicator (RSI), a technical analysis indicator which measures momentum on a scale of 0 to 100, and anything below 30 translates into a stock being oversold. Tuesday’s trading on the Toronto Stock Exchange (TSX) revealed MHC owner Killam Properties, Inc., (KMP) of Halifax, Nova Scotia, Canada ventured into oversold territory after selling at $11.78 per share, giving it an RSI reading of 27.4. At the current 46.5 reading of the S&P/TSX Composite Index, investors could envision KMP’s low price as a good opportunity to buy shares, since the 52-week range has been from $10.78 to $13.60. As MHProNews knows, with over 50 communities, Killam is one of the largest owners of manufactured housing communities in Canada.

(Photo credit: Killam Properties, Inc.)

UMH Registers Stock Offering

October 26th, 2012 Comments off

RTTNews reports Freehold, New Jersey-based UMH Properties, Inc. has priced a registered offering of 1.25 million shares of its 8.25% Series A Cumulative Redeemable Preferred Stock at a price of $25.50 per share, which will total 3.66 million shares of Preferred A stock outstanding. The offering is anticipated to raise $31.2 million, which will be used to acquire additional properties such as its pending purchase of an MHC property near Cleveland, Ohio, to pay down indebtedness and for general corporate expenses. The company operates 54 MHCs comprised of 10,220 homesites. As MHProNews learned, UMH closed down -0.72% at 11.09 in today’s trading.

(Photo credit: UMH Properties, Inc.)

UFPI Releases Q3 Financials

October 17th, 2012 Comments off

Universal Forest Products, Inc. (UFPI) reported an increase of 13.7 percent net sales Q3 2012 over Q3 2011, $533.4 million over $486.9 million. Due to a $2 million one time, pretax charge for a loss contingency, net earnings were $4.2 million in 2012 versus $5.6 million in the same period 2011. According to 4-traders, the company saw double-digit sales growth in four of five markets, boosted in part by higher lumber prices. In its recreational vehicle and manufactured housing sector, gross sales rose to $89 million on the quarter, a 35.5 percent increase over the same quarter last year. The report notes manufactured housing shipments increased 14.6 percent in July and 7.8 percent in Aug. 2012. As MHProNews has learned, UFPI, based in Grand Rapids, Mich., held a conference call this morning to discuss the financial results. A replay of the call will be available thru Fri., Nov. 16, 2012 at (888) 286 8010 domestically, using replay pass code 14438073. In today’s trading, UFPI closed up +0.11% at 41.91.

(Photo credit: UFPI)

UMH Acquires MHCs

August 3rd, 2012 Comments off

PRNewsWire reports Freehold, New Jersey-based UMH Properties, Inc. announced it closed on the acquisition of eleven manufactured home communities comprised of 968 home sites situated on 200 acres for $28,250,000. With a 92% occupancy rate, ten of the communities are in Pennsylvania, and one is in New York. The publicly-owned real estate investment trust (REIT) now owns and operates 53 MHCs comprised of 10,100 home sites in four additional states as well: Indiana, Tennessee, New Jersey, and Ohio. MHProNews posted on its stock report UMH gained +3.96% in today’s trading.

(Photo credit: UMH Properties, Inc.)