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Posts Tagged ‘job seekers’

UMH Properties Receives a Strong ‘Buy’ on its Stock

September 24th, 2013 Comments off

Brad Thomas documents the annals of UMH Properties, Inc., (UMH:NYSE) since its beginning in 1968 to its election to REIT (real estate investment trust) status in 1982, and being publicly traded in 1985 after issuing an IPO, as reported in seekingalpha.com. Although it is considered a small REIT because its market cap is $184 million and has assets of $384 million, Thomas notes since 2009 the number of land lease communities it owns has risen from 28 to 68, and the homesites nearly doubling to 12,800. The company owns 37 manufactured housing communities (MHCs) in the Marcellus Shale region where energy companies are expected to be drilling, attracting possibly thousands of job-seekers who will need housing. UMH also has a financing arm that sell homes to consumers. Revenue is expected to surpass last year’s, he says, and UMH pays a higher dividend yield at 7.38% than either Sun Communities, Inc., or Equity LifeStyle Properties, its two closest peers, as MHProNews knows. After driving near every angle of financing through a fine tooth comb resulting in many charts, graphs and formulas, Thomas initiates a buy on the stock at $9.75 a share.

(Photo credit: UMH Properties, Inc.)

Making Dollars from Distress

March 26th, 2012 Comments off

Although it requires twice the manpower, takes three times longer, and nearly doubles the cost to deconstruct a home than demolish it, a Cleveland company, A Piece of Cleveland, and the Cleveland Institute of Art are conducting a test program to make furniture, mill work, and other items from the ceiling joists and flooring of some of the 12,000 abandoned homes in the city. Cleveland says the goal is to make the process profitable. On average 40 percent of the materials in vacant homes, most already stripped of wiring, plumbing, fixtures, and other sale-able items, are re-usable. “The theory behind deconstruction is that even though it is more expensive to do — because it is more labor intensive — that you will reclaim and salvage enough usable material and resell it, and that that income will offset the additional expense,” said Frank Ford, senior vice president for research and development at the nonprofit Neighborhood Progress Inc. (NPI). The city has received $780,000 in federal grants to subsidize the difference between demolition and deconstruction, giving jobs to many ex-cons, veterans, and other challenged job-seekers. MHProNews.com has learned that Cleveland is one of the top ten metropolitan markets in which it makes more sense to buy a home than rent one.