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UMH Properties Makes More Moves, Promotion Announced

December 22nd, 2016 Comments off
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Credit: UMH.

UMH Properties, Inc. (NYSE: UMH) has been busy in the week leading up to the Christmas holiday.

UMH announced on December 19th that it has closed on its $4.33 million acquisition of a community in Ohio. The all-age community contains 124 developed homesites situated on approximately 121 acres with and occupancy rate of approximately 82%.

The purchase represents the third acquisition in their five-community portfolio located in Ohio, which contains a total of 821 sites situated on approximately 337 acres.

The acquisition of the remaining two communities is expected to close before the end of the year or shortly thereafter.

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Sam Landy. Credit: Carisa Chappell.

UMH is pleased to continue to grow through acquisitions in areas where we believe there will be above average economic growth,” said Sam Landy, President and Chief Executive Officer.

We are beginning to see an increase in demand in the energy rich Marcellus and Utica shale regions. This community will fit nicely into our operating platform and should see occupancy and revenue growth in the near future. This community has substantial acreage for potential future expansion. UMH continues to seek acquisitions that fit our growth criteria.

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Credit: UMH Properties

Also on December 19th, UMH announced that Brett Taft, Vice President of Acquisitions and Integration, has been promoted to be Vice President and a corporate officer of UMH Properties.

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Brett Taft. 

Brett Taft has been a major driving force in UMH’s growth in size and growth in income,” said Landy. “He is fully familiar with UMH’s business plan, our people and all of our properties. He has demonstrated an ability to put things in perspective, work with people, and achieve our goals.

For more about Sam Landy, see “A Cup of Coffee… interview with him, linked here.

According to Equities, UMH stock hit a new 52-week high on December 19th, hitting a peak of $14.59. Shares closed at $14.49, up from an opening price of $13.80, an increase of 5.23 percent.

The company now has a market cap of $415.42 million.

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UMH 1 year look. Credit: Bloomberg.

As Daily Business News readers already know, UMH is a real estate investment trust (REIT) that owns and operates 98 manufactured home communities (MHCs) in seven states east of the Mississippi, composed of 17,800 developed home sites.

UMH is also one of the various industry-connected stocks monitored each business day in the industry’s only daily market report, featured exclusively on the Daily Business News.

For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

MH Communities Giant Equity LifeStyle Properties Investors, Stock Moves

December 9th, 2016 Comments off
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Credit: Wikicommons.

Equity Lifestyle Properties, Inc. (NYSE:ELS) saw Australia-based investment firm Revolution Capital Ltd. reduce its stake in the company by 5.84 percent in Q3.

With the reduction, Revolution Capital still holds a sizable 1.01 million-share stake in ELS valued at $77.7 million. ELS has a current market cap of $6 billion, and has seen its stock price decline 1.89 percent since May and underperform the S&P 500 by over eight percent.

According to the Chester Independent, analysts are pointing to the next ELS earnings report on January, 23, where they expect $0.80 earnings per share (EPS), up 8.11 percent or $0.06 from last year’s $0.74 per share.

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ELS 1 year view. Credit: Bloomberg.

ELS’s profit will be $69.12M for 21.70 P/E if the $0.80 EPS becomes a reality. After $0.83 actual EPS reported for the previous quarter, Wall Street now forecasts -3.61 percent negative EPS growth.

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Analysts have also provided ratings guidance recently:

  • Robert W. Baird upgraded ELS on November 21 to “outperform.
  • BB&T Capital provided a “hold” rating on November 10.
  • Zacks provided a “buy” rating on September 7th.

The Daily Business News recently profiled ELS and their Q3 earnings results here.

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ELS California country club style community, photo credit, ELS.

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Marguerite Nader. Credit: Bloomberg.

As manufactured housing professionals, investors and enthusiasts know, ELS is a REIT – a Real Estate Investment Trust – and is one of the largest owner/operators of manufactured home communities and RV parks in the nation. ELS is also one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

(Editor’s Note: for A Cup of Coffee interview with ELS CEO Nader, click here.)

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Volatility has Hit Patrick Industries, Inc Stock

September 10th, 2015 Comments off

patrick_ind_logoFollowing MHProNews‘ story yesterday (Sept. 9. 2015) about the sale of $6.38 million worth of Patrick Industries, Inc. (NASDAQ:PATK) stock on Sept. 4, 2015 by Tontine Capital Partners LP, the company continues to hold 12.78 percent of Patrick’s market cap, equivalent to two million shares.

The significance of this unloading indicates Tontine may be pessimistic about the company and its stock price. As a result, octafinance, noting the stock has declined 21 percent in the last 125 days, has rated the stock as a “sell.”

Although Gendell Jeffrey L., the most bullish institutional investor, has sold approximately 113,000 shares of Patrick since last November, as MHProNews has reported, he continues to hold 2.57 million shares, or 16.56 percent of the portfolio.

Meanwhile, Patrick’s President and CEO, Todd M Cleveland sold 100,000 shares, also on Sept. 4., at $44.51 per share, for a total yield of $4,448,947.50, according to insidertradingreport. This report says the stock has rallied 54.29 percent in the last 52 weeks.

Patrick is a component supplier to the manufactured housing and recreational vehicle markets.##

(Image credit: Patrick Industries, Inc.)

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

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.)

Patrick’s Stock Nearly Triples in 2012

January 7th, 2013 Comments off

IndyStar reports two-thirds of nearly 50 Indiana public companies traded on large exchanges finished last year with higher stock prices than at the beginning of the year. Included is Elkhart-based Patrick Industries (PATK) whose stock price more than tripled, going from $4.30 to $15.56 a share. Julie Ann Kotowski, director of financial reporting and investor relations, says the increase may be due to improved operations. As MHProNews reported Oct. 30, 2012, Patrick, which provides components to the MH and RV industries, acquired cabinet door maker Middlebury Hardwood Products of Ind. for $20.3 million, one of four acquisitions in 2012. Patrick’s stock closed +0.48% at $16.60 Jan. 4.

(Image credit: Patrick Industries, Inc.)