Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: gcrispin who wrote (28473)	10/11/2007 11:33:25 AM
From: Brendan W	Read Replies (1) \| Respond to of 78633

I'm intrigued by manufactured homes and timber REITs due to their "contra" nature. Calling a turn on SUI requires more prescience than I can bring. In the span 2002 to the present they have increased long-term debt by $500 million, decreased equity by $260 million, increased assets by only $100 million, turned operating income into operating losses. Effectively, they are paying for the dividend ($220 million over the period) and buybacks ($58 million) with debt. Is there some strength over this period that I am missing, or is your call based on forecasting a turn in operating performance?