Core Insights - Manufactured housing is recognized as an attractive asset class due to its steady revenue streams and strong tenant relationships [2] - Manufactured housing communities face less competition from new supply compared to Apartment REITs, enhancing their investment appeal [2] Industry Focus - The focus on income-producing asset classes, such as manufactured housing, offers opportunities for sustainable portfolio income, diversification, and inflation hedging [1] - The investment strategy emphasizes defensive stocks with a medium- to long-term horizon, aligning with the characteristics of manufactured housing [2]

Market Overview - Wall Street experienced a strong recovery in May, regaining most losses from early April due to tariff announcements by President Trump, but volatility persists as the impact of tariffs on the economy remains unclear [1][4][9] - The Federal Reserve has not indicated plans to resume rate cuts despite recent cooling inflation, contributing to market uncertainty [2][5] Economic Indicators - U.S. job growth slowed significantly in May, with nonfarm payrolls increasing by only 139,000 and private payrolls rising by just 37,000, raising concerns about the economy's health [6] Dividend-Paying Stocks - In light of ongoing market uncertainty, investing in dividend-paying stocks is recommended as they tend to be more stable and reliable during economic fluctuations [7] - Four notable dividend-paying stocks include: - **Casey's General Stores, Inc. (CASY)**: Operates 2,893 convenience stores across 17 states, with a dividend of $0.57 per share and a yield of 0.46% [8][10] - **Utz Brands, Inc. (UTZ)**: Manufactures a variety of salty snacks, declaring a dividend of $0.06 per share with a yield of 1.75% [11][12] - **Sun Communities, Inc. (SUI)**: Focuses on manufactured housing communities, announcing a dividend of $1.04 per share and a yield of 3.01% [13][14] - **EOG Resources, Inc. (EOG)**: Engaged in oil and natural gas exploration, with a dividend of $1.02 per share and a yield of 3.41% [15][16]

CHICAGO and LOS ANGELES, June 03, 2025 (GLOBE NEWSWIRE) -- Proteus MHP, a private real estate investment and operating firm focused on manufactured housing communities, today announced a $60 million equity commitment from GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider with approximately $82 billion in assets under management. The investment is being made by GCM Grosvenor’s Real Estate platform through various GCM Grosvenor-managed investment vehicles. The capital will ...

Not for distribution to U.S. newswire services or dissemination in the United States. TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (the "REIT") (TSX:MHC.U; MHC.UN) announced today a cash distribution of US$0.0517 per REIT unit for the month of May 2025, representing US$0.62 per REIT unit on an annual basis. Payment will be made on or about June 16, 2025, to unitholders of record as of the close of business on May 30, 2025. Forward-Looking Statements Distributio ...

Not for distribution to U.S. newswire services or dissemination in the United States. TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (TSX: MHC.U) (TSX:MHC.UN) ("Flagship" or the "REIT") today announced that it was awarded the Manufactured Home Community Operator of the Year and Community Impact Project of the Year by the Manufactured Housing Institute (MHI). Flagship has been awarded the Manufactured Home Community Operator of the Year twice in the past three yea ...

Sun Communities (SUI) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Gary Shiffman - Chairman & CEOJohn McLaren - PresidentFernando Castro-Caratini - Executive VP & CFOJana Galan - DirectorEric Wolfe - DirectorBrad Heffern - DirectorJohn Kim - Managing Director - US Real EstateAnthony Hau - Vice President , Equity Research Conference Call Participants Michael Goldsmith - Equity Research AnalystWesley Golladay - Senior Research AnalystSteve Sakwa - Senior Managing Director & Senior Equit ...

Financial Data and Key Metrics Changes - The company reported core FFO per share of $1.26, representing a 5.8% increase year over year [13] - As of March 31, the company's debt balance stood at $7.4 billion with a weighted average interest rate of 4.1% [13] - The net debt to trailing twelve month recurring EBITDA ratio was 5.9 times [13] Business Line Data and Key Metrics Changes - The North American same property portfolio delivered 4.6% NOI growth, driven by an 8.9% increase in manufactured housing same property NOI [8][9] - Revenue from manufactured housing grew 7.3%, supported by strong rental rate increases and a 150 basis point occupancy gain [9] - The RV segment experienced a 7.8% revenue increase year over year, but same property NOI declined by 9.1% due to softness in the transient RV business [10] Market Data and Key Metrics Changes - In the UK, total same property NOI saw a modest decrease of $600,000 compared to the prior year, primarily due to higher payroll and real estate taxes [10] - The company noted that Canadian guests accounted for roughly 4% of the annual base and 5% of transient RV revenue, impacting overall performance [10] Company Strategy and Development Direction - The company is repositioning towards a pure play owner and operator of manufactured housing and recreational vehicle communities [4] - A new long-term net debt to EBITDA target of 3.5x to 4.5x has been established as part of the capital allocation plan [5] - The company is focused on operational excellence and disciplined execution through consistent organic growth and selective expansions [8] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the company's platform and long-term opportunities across the manufactured housing and RV segments [5] - The fundamentals driving demand for affordable housing remain intact, supporting a positive outlook [5] - Management acknowledged challenges in the transient RV business due to macroeconomic uncertainty and reduced Canadian guests [10] Other Important Information - The company plans a one-time cash distribution of $4 per share and a planned increase to the quarterly distribution by approximately 10.6% to $1.04 per common share [16] - A $1 billion stock repurchase program has been adopted to allow for future repurchases of common shares [17] Q&A Session Summary Question: What is driving the increase in manufactured housing NOI guidance? - Management noted good occupancy gains, strong renewal performance, and effective expense management as key factors [23][25] Question: Is the repurchase authorization opportunistic or a consistent strategy? - Management indicated that it is part of a larger thoughtful program related to the company's positioning and financial flexibility [28][30] Question: What is the reason for the revision in RV guidance? - Management attributed the revision to a shift towards shorter booking windows and challenges with Canadian guests [34][36] Question: What is the expected cash balance for the rest of the year? - The expected cash balance is around $1.7 billion, which is embedded in guidance [40][41] Question: What types of properties are being targeted for acquisitions? - The company is focused on high-quality single manufactured housing assets and small portfolio opportunities [45] Question: What is the status of the CEO search? - The search committee is actively engaged and hopes to secure a candidate by year-end [49][50] Question: What is the expected recurring CapEx for 2025? - The expected recurring CapEx for the MH, RV, and UK portfolio is just over $70 million for the year [98]

Sun Communities (SUI) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Gary Shiffman - Chairman & CEOJohn McLaren - PresidentFernando Castro-Caratini - Executive VP & CFOJana Galan - DirectorEric Wolfe - DirectorBrad Heffern - DirectorJohn Kim - Managing Director - US Real EstateAnthony Hau - Vice President , Equity Research Conference Call Participants Michael Goldsmith - Equity Research AnalystWesley Golladay - Senior Research AnalystSteve Sakwa - Senior Managing Director & Senior Equit ...