Senior Analyst Paul Adornato of BMO Capital Markets is positive on the manufactured home space, and at the high end of the business is seeing solid fundamentals at Equity Lifestyle Properties, Inc. (ELS).
“We have the stock rated as a ‘market perform,’ but the fundamentals are very strong here,” Adornato said.”The company caters primarily to retirees, who tend to be cash-rich, upscale and very solid credits.”
FOR MORE INFORMATION ON THIS INTERVIEW CLICK HERE.
Adornato says that previously these retirees had been slow to sell their primary homes because of the overall slowdown in the single-family market, but now the sector is seeing more activity.
“As that market starts to pick up momentum, so too has the movement of retirees from their primary home into a retirement home in an ELS community,” Adornato said. “Today both manufactured home REITs have fundamental positives as far as we can see, and it’s certainly showing up in their operating results.”
Apple (AAPL) Maintains Strong Long-Term Fundamentals
September 19, 2013
Mark Travis of Intrepid Capital Management Buys Near Term Cash Flows for Long Term Value
July 02, 2017
Apartment REITs UDR (UDR), Home Properties (HME) and Aimco (AIV) See Improving Fundamentals and Attractive Valuations
October 23, 2012
Limited Housing Fuels Student Lifestyle REIT Expansion
August 30, 2011
Apparel, Footwear Retailers Benefit from Active Lifestyle Trend
September 06, 2012