Equity Lifestyle Properties, Inc.: A Giant Mobile Home REIT For The Growing Age Wave
- Equity Lifestyle Properties is the largest owner of mobile home parks.
- Retiring baby boomers should be a huge demand driver.
- ELS is expensive, but should be on your watch list just in case of a sell-off.
- When compared with the broader Multifamily sector, ELS has outperformed the larger peer group based on historic Same Store NOI growth.
- ELS has a much better dividend growth record with average 3-year dividend growth of 17% and average 5-year dividend growth of 24%.
- I would recommend the ELS-C 6.75% Preferred Issue that’s trading at $23.62 with a current yield of 7.13%.
Yesterday, 5:35 PM
Nov. 5, 2014, 6:20 PM| Comment!
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- Q3 FFO per share of $0.69 vs. $0.65 in 3Q13.
- Core occupancy of 92.2% up from 91.8% in Q2.
- Conference call tomorrow at 11 ET. Webcast here.
- ELS no trades AH
- Previous: Equity Lifestyle Properties beats by $0.03, beats on revenue
Oct. 20, 2014, 5:11 PM| Comment!
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Aug. 20, 2014, 3:35 PM
- UBS O'Connor LLC is a $5.6B hedge fund unit within the Swiss bank, and it has cut REIT holdings across the board by more than $900M after racking up big gains in the stocks this year.
- The biggest reductions were in Mid-America Apartment Communities (MAA +0.3%), AvalonBay (AVB +0.8%), and Equity Lifestyle Properties (ELS +0.2%), and other holdings include Redwood Trust (RWT -0.8%) and American Realty Capital (ARCP +1.1%).
- ETFs: IYR, VNQ, DRN, URE, REZ, SRS, ICF, RWR, SCHH, ROOF, DRV, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, FNIO, WREI, GQRE
- SEC Form 13F
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- With a 2.91% gain in May, REITs outperformed the Dow, S&P 500, and Russell 2000, but fell shy of the Nasdaq's 3.1% gain. Leading the way for REITs were infrastructure plays, returning 6.55% thanks to strong demand from wireless carriers as they transition from 3G to 4G, writes Trepp's Susan Persin.
- Speaking last week at NAREIT's REIT Week, Crown Castle's (CCI) Ben Moreland also noted boosted demand from first responder/public safety networks.
- Manufactured housing REITs returned 5.03 in May, and UMH Properties management - also at REIT Week - noted shipments are low by historical standards and financing remains a challenge even with Warren Buffett being a fan of the sector: Berkshire Hathaway (BRK.A, BRK.B) owns the two dominant lenders. Other players in manufactured housing: SUI, ELS.
- ETFs: IYR, VNQ, DRN, REZ, URE, SRS, ICF, RWR, SCHH, DRV, ROOF, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, WREI
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Nov. 5, 2013, 6:15 PM
- Equity Lifestyle Properties, Inc. (ELS) declares $0.25/share quarter dividend, in line with prior.
- Forward yield 2.69%
- Payable Jan 10; for shareholders of record Dec. 27; ex-div Dec. 24.
- The board declared annual dividend of $1.30/share for FY14, 30% increase from prior annual dividend of $1.00/share.
ELS vs. ETF Alternatives
Equity Lifestyle Properties Inc is an owner and operator of lifestyle-oriented properties. The Company leases individual developed areas with access to utilities for placement of factory built homes, cottages, cabins or recreational vehicles.
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