$WOFA Watch List Material Here!!
Comparable Entities
Retail Centers (distribution):
-The industry is primarily small independent retailers or larger chains that distribute through their retailers and independents.
-Clayton Homes is the largest retailer in the US with 870 retail centers and 70 factories.
-CavcoIndustries (NASDAQ: CVCO) has 47 retail centers and 15 factories. Subdivisions:
-Equity Lifestyle Properties (NYSE: ELP) has 384 properties with 143,100 sites in 32 states. -ELP leases and sells lots and manufactured homes in community like settings. They also own RV lots and parks. They cater to the 55 and older generation. $776 million annual revenue.
-Sun Communities: (NYSE: SUI) has 208 manufactured
home communities with 70,600 manufactured home sites. They also own RV lots and parks. $470 million annual revenue.
Mortgage Company Comparable (non-prime):
-21stMortgage, Inc. originates and services approximately $1.5 billion per year of non-prime manufactured home mortgages.
-21stMortgage dominates the non-prime manufactured homes loan origination market.
-21stMortgage is owned by Clayton Homes.-Clayton Homes has over 870 manufactured home retail centers in the US.
-Clayton Homes is owned by Berkshire Hathaway.
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