Published Fri, 30 Mar 2018 06:00:00 -0400 on Seeking Alpha
This research report was produced by The REIT Forum with assistance from Big Dog Investments.
Some investments fail at making you money. Others do not.
There are some company’s I tell investors to run away from.
Other investments have sound fundamentals and should perform well over a long time period.
Let’s take a look at both.
Equity Lifestyle I am bullish on Equity Lifestyle (ELS).
Equity Lifestyle ( ELS) is a REIT specializing in manufactured home communities and RV resorts. They share this space with Sun Communities ( SUI) and UMH Properties ( UMH). ELS and SUI are both very viable investments with solid management teams and defensive balance sheets. Management of UMH takes on absolutely absurd levels of risk.
ELS carries a risk rating of “1” and it is very suitable for the vast majority of investors.
(Source: ELS investor presentation)
The portfolio is composed of manufactured home parks and RV sites and resort cottages. The most important factor in their business model is the ownership of the site does not include ownership of the structure. Because ELS does not own the manufactured home, they do not pay for upkeep on the manufactured home. They pay to maintain the site, but not to remodel or repair the individual properties. That is a highly favorable characteristic of these investments. It significantly reduces the annual capital expenditures for the landlord.
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|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|EQUITY LIFESTYLE PROPERTIES||132.21||44.7||2.96||2.45||1.90|
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