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UMH Properties Makes More Moves, Promotion Announced

December 22nd, 2016 Comments off
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Credit: UMH.

UMH Properties, Inc. (NYSE: UMH) has been busy in the week leading up to the Christmas holiday.

UMH announced on December 19th that it has closed on its $4.33 million acquisition of a community in Ohio. The all-age community contains 124 developed homesites situated on approximately 121 acres with and occupancy rate of approximately 82%.

The purchase represents the third acquisition in their five-community portfolio located in Ohio, which contains a total of 821 sites situated on approximately 337 acres.

The acquisition of the remaining two communities is expected to close before the end of the year or shortly thereafter.

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Sam Landy. Credit: Carisa Chappell.

UMH is pleased to continue to grow through acquisitions in areas where we believe there will be above average economic growth,” said Sam Landy, President and Chief Executive Officer.

We are beginning to see an increase in demand in the energy rich Marcellus and Utica shale regions. This community will fit nicely into our operating platform and should see occupancy and revenue growth in the near future. This community has substantial acreage for potential future expansion. UMH continues to seek acquisitions that fit our growth criteria.

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Credit: UMH Properties

Also on December 19th, UMH announced that Brett Taft, Vice President of Acquisitions and Integration, has been promoted to be Vice President and a corporate officer of UMH Properties.

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Brett Taft. 

Brett Taft has been a major driving force in UMH’s growth in size and growth in income,” said Landy. “He is fully familiar with UMH’s business plan, our people and all of our properties. He has demonstrated an ability to put things in perspective, work with people, and achieve our goals.

For more about Sam Landy, see “A Cup of Coffee… interview with him, linked here.

According to Equities, UMH stock hit a new 52-week high on December 19th, hitting a peak of $14.59. Shares closed at $14.49, up from an opening price of $13.80, an increase of 5.23 percent.

The company now has a market cap of $415.42 million.

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UMH 1 year look. Credit: Bloomberg.

As Daily Business News readers already know, UMH is a real estate investment trust (REIT) that owns and operates 98 manufactured home communities (MHCs) in seven states east of the Mississippi, composed of 17,800 developed home sites.

UMH is also one of the various industry-connected stocks monitored each business day in the industry’s only daily market report, featured exclusively on the Daily Business News.

For the most recent closing numbers on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

UMH Selects Vice Presidents, Declares Cash Dividends

April 2nd, 2015 Comments off

umh_properties_creditFrom Freehold, New Jersey, President of UMH Properties, Inc. Samuel A. Landy tells MHProNews that Regina Beasley and Robert “Bob” VanSchuvyer have been appointed as vice presidents. According to prnewswire, Mr. Landy said, “Both Robert and Regina have added significant value to the manufactured home communities acquired by UMH and have been dedicated to the Company for many years.

Separately, on April 1, 2015, the Board of Directors of UMH declared its quarterly cash dividend of $0.18 per share of common stock payable June 15, 2015 to shareholders of record on May 15, 2015. Also, the board declared a quarterly dividend of $0.515625 per share for March 1, 2015 through May 31, 2015 on the company’s Series A preferred stock. The stock is payable June 15, 2015 to shareholders of record on May 15, 2015.

UMH is a publicly traded real estate investment trust (REIT) that owns and operates 89 manufactured home communities comprised of 15,200 homesites in seven states east of the Mississippi. The company also owns a portfolio of REIT securities.

Bob VanShuyver was recently featured in a video interview with Chris Sliwinski on their model village in Port Royal, PA, found at this link. ##

(Image credit: UMH Properties, Inc.)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J Silver to Daily Business News-MHProNews.

UMH Acquires Ohio MHC

July 30th, 2012 Comments off

KTVN tells MHProNews UMH Properties, Inc. of Freehold, New Jersey has acquired the age-restricted Meadowood manufactured home community in New Middleton, Ohio. The 123 site community, located on 20 acres, was purchased for $3,400,000, and increases UMH’s holdings to 42 MHCs comprising 9,100 developed home sites in New Jersey, New York, Indiana, Tennessee, Ohio, and Pennsylvania. A real estate investment trust (REIT), UMH also has a portfolio of REIT securities.

(Image credit: UMH Properties, Inc)