Posts Tagged ‘landy’

UMH Anniversary at the NYSE, Landy Rings Closing Bell

January 20th, 2017 Comments off

Credit: NYSE.

In celebration of their 50th anniversary, UMH Properties, Inc. (UMH: NYSE), led by

Eugene W. Landy, Chairman of the Board of UMH, rang the closing bell at the New York Stock Exchange (NYSE) Thursday, Jan. 19.

The event coincided with the company’s quarterly board meeting and a special dinner reception for close partners.

The Company is honored to celebrate its 50th Anniversary at the NYSE,” said Landy in comments last week on the event.

UMH is one of the oldest publicly-traded REITs in the world, and as the Founder of our Company, I could not be prouder of our many achievements. UMH’s total-return performance ranked third of all 180 REITs in 2016. The Company is very well positioned for continued outperformance in the years ahead.

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. ##

(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

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

UMH Releases Third Quarter Financials

November 11th, 2013 Comments off

In its third quarter financials, UMH Properties announces it has increased its portfolio of homesites by 26 percent since the beginning of the year. For the quarter ending Sept. 30, 2013 funds from operations (FFO) attributable to common shareholders of $1,993,000 or $.10 per diluted share as compared to Q3 2012 of $2,585,000 or $.16 per diluted share. The third quarter 2013 saw income increase to $16,245,000 from $12,187,000 for the same period last year. As tells MHProNews, FFO less gains on securities transactions equaled $1,880,000 or $.10 per diluted share quarter ending Sept. 30, 2013 versus $1,370,000 or $.08 per diluted share for same period 2012. Samuel A. Landy, UMH President and CEO says, “Our portfolio occupancy increased 200 basis points over the prior year quarter from 80% to 82% at quarter end. Our income from community operations (defined as rental and related income less community operating expenses) increased 40% from $4,543,000 for the prior year quarter to $6,369,000 for the quarter ended September 30, 2013. Our community operating costs for the quarter include repairs and maintenance and other costs associated with bringing our newly acquired communities up to the high UMH standards. These expenses should fall as we complete the process of upgrading these communities, adding rental homes, and creating new sales centers. While demand for rentals remains very strong, growth in home sales is trending higher but at a much slower pace.” UMH is a public equity real estate investment trust (REIT) that owns and operates 74 manufactured housing communities comprised of 13,400 homesites. UMH will host a webcast and conference call Thursday, Nov. 21, 2013 at 10:AM.

(Photo credit: UMH Properties)

Glowing MH Industry C-Suite Interviews

June 21st, 2013 Comments off

cup-of-coffee-ani-150x150-The exclusive interviews of manufactured housing industry ‘C-Suite’ leaders, executives and business owners has fueled growing – and glowing – interest in readership here at MHProNews. These in turn yield an improved understanding and respect for the MH Industry at large by investors, professionals or researchers who also find and read the popular “A Cup of Coffee with…” (Cuppa) series of interviews our online trade media publishes.

Among the interviews that are up and coming will be A Cup of Coffee with…Tim Williams, CEO of 21st Mortgage Corp. Currently featured interviews with Equity Lifestyle Properties (ELS) CEO, Marguerite Nader and Cavco Industries Chairman, Joe Stegmayer are hot reads which have boosted readership in other news, commentary and featured articles on the MHProNews website.
Previous interview articles can also be accessed. These include award winning manufactured housing retailer Mike Evans, MHCommunities movers and shakers Randy Rowe and Sam Landy, industry lenders such as Triad’s Don Glisson Jr. or First Guarantee Mortgage’s Andrew Peters, elected officials such as Joe Donnelly, association leaders and dozens of others found at the Cuppa link. Readership here currently averages over 6000 daily – imagine that as being more than attend the Louisville and Tunica trade shows, plus MHI’s annual Congress and Expo – combined. That’s over 150,000 visits and some 1.4 million page views monthly, far and away the most for all the major industry news sources combined. ##

UMH Revenues Nearly Double

May 9th, 2013 Comments off

From sys-con MHProNews has learned manufactured housing community owner UMH Properties, Inc. reports funds from operations (FFO) came within $222,000 of doubling from the first quarter 2012 to Q1 2013, from $2,738,000 to $5,254,000, from $0.18 a diluted share in Q1 of last year to $0.30 per diluted share Q1 2013. Total income grew from $10.9 million to $13.4 million for the same period. Net income attributable to common shareholders rose from $1,059,000 million in the first quarter of 2012 to $2,260,000 this most recent quarter ending. Total assets increased to $362 million from $300 million for the period 12-31-12 to 3-31-13. President Samuel A. Landy, noting UMH spent just under $75 million on acquisitions yielding over 2100 homesites in the quarter ending March 31, 2013, says, “Over the past few years, we have been very successful in harnessing gains on our securities investment and redeploying that capital into our community acquisitions. Our REIT securities portfolio continued to perform well generating $3.3 million in realized gains in the first quarter of 2013 and an additional $8.2 million in unrealized gains at quarter end.” UMH has established a $35 million unsecured line of credit with the Bank of Montreal which could be extended another $15 million. Landy says portfolio occupancy rose from 77 percent as of March 31, 2012 to 81 percent March 31, 2013. UMH owns and operates 68 manufactured home communities comprised of 12,800 developed homesites, and owns a portfolio of other real estate investment trust (REIT) securities.

(Image credit: UMH Properties, Inc.)

UMH Goes Shopping

March 1st, 2013 Comments off

StreetInsider informs MHProNews that UMH Properties, Inc. (NYSE:UMH) has finalized its deal for ten all-age MHCs for $67,500,000, a total of 1,654 developed home sites to add to its portfolio. The acquisition includes five communities in Ind., four in Penn., and one in Mich., with an average occupancy of 85 percent. UMH President Samuel A. Landy says, “With this acquisition, UMH has increased its portfolio by approximately 18%. These communities are an excellent fit with our existing portfolio. We believe that all of these communities will benefit from our sales and rental programs. Additionally, we have a strong acquisition pipeline in place and expect continued growth throughout the remainder of 2013.” A publicly-owned real estate investment trust (REIT), UMH now owns 67 MHCs comprised of 12,500 developed home sites. UMH closed today at 10.08, up +0.52%.

(Photo credit: UMH Properties, Inc.)

Landys, UMH Feted for BSA Service

February 27th, 2013 Comments off

From Freehold, NJ, gmnews reports Gene Landy and Sam Landy and UMH Properties, Inc., have been honored by the Monmouth (NJ) Council, Boy Scouts of America, for their leadership and philanthropy in support of the scout movement. Council President Kurt Kalafsky said, “This recognition reflects Gene and Sam’s dedication to Scouting, the development of our county’s youth, and to their community. They are ardent supporters of the Scouting mission and the impact Scouting has on young people in helping develop their leadership skills. Such dedicated volunteers have helped us balance our budget for seven straight years and strengthen our fiscal stewardship.” Sam Landy replied, “It is our pleasure to help support the Scouting program, and UMH Properties and employees are very dedicated to community service and volunteerisim, and to giving back.” The program serves over 7,000 scouts countywide. The Landys were gifted with a signed Joseph Csatari Scouting Anniversary print. As MHProNews knows, UMH is a real estate investment trust (REIT) that owns a portfolio of 41 communities comprised of 9,000 home sites in six eastern states.

(Image credit: UMH Properties, Inc.)

UMH Declares Common & Preferred Dividend

January 18th, 2013 Comments off

DailyMarkets reports from Freehold, New Jersey UMH Properties, Inc. (UMH) board chairman Eugene W. Landy said the board of directors declared a quarterly cash dividend of $0.18 per share payable March 15, 2013 to shareholders of record as of Feb. 15, 2013. In addition, the board declared a quarterly dividend on the company’s Series A Preferred Stock of $0.515625 for the period from Dec. 1, 2012 through Feb. 28, 2013, payable under the same terms as the common stock. As MHProNews knows, UMH owns and operates 57 manufactured home communities with 10,600 homesites, and also owns a portfolio of REIT securities.

(Photo credit: UMH Properties, Inc.)

UMH on the Buying Path Again

December 20th, 2012 Comments off

CrainsCleveland reports Freehold, New Jersey-based UMH Properties has acquired 125-site Olmsted Falls MHC in the southwestern suburbs of Cleveland, Ohio for $3.6 million. The 14-acre property in Olmsted Falls marks UMH’s second MHC acquisition this month just outside Cleveland. As MHProNews reported Dec. 4, 2012, it purchased 141-site Twin Oaks MHC in Olmsted Township for $4.35 million. President Samuel A. Landy says, “We have now increased our portfolio by more than 50% over the previous three-year period and anticipate continuing to acquire communities in 2013.” UMH owns 57 MHCs comprised of over 10,600 homesites.

(Photo credit: UMH Properties)

Is the Sky Falling on Manufactured Housing?

December 13th, 2012 Comments off

The Wall Street Journal says as interest rates remain low and the housing recovery continues to pick up, more people will be buying traditional houses instead of manufactured homes. Citing the drop in production of manufactured homes the last two months following 16 months of consecutive industry growth, and the fall in earnings of two of the biggest MHC owners nationwide in the last three months, analysts say it’s the high interest rate on MH that is causing the drop, especially compared to conventional mortgages. While they expected the climb to continue, they are far from dismayed. Sam Landy, president of MHC owner UMH Properties, Inc., while noting the “real boom in sales” is not here yet, remains confident, adding manufactured home sales are up 33 percent since 2009. Monthly rentals comprise 11 percent of UMH’s portfolio, an increase from under nine percent in 2009. As MHProNews knows, UMH owns a portfolio of 41 properties comprised of over 9,000 home sites.

(Photo credit: Wall Street Journal/UMH Properties, Inc.)

UMH Declares Dividends

October 2nd, 2012 Comments off

Eugene W. Landy, Chairman of the Board of UMH Properties, Inc. (UMH) announced the board of directors declared a quarterly dividend of $0.18 per share on the company’s common stock payable Dec. 17, 2012 to shareholders as of Nov. 15, 2012. Additionally, on the company’s 8.25% Series A Preferred Stock, the board declared a quarterly dividend of $0.515625 per share also payable Dec. 17, 2012 to shareholders of record Nov. 15, 2012. DailyMarkets reports these cumulative dividends cover the period from Sept. 1, 2012 through Nov. 30, 2012. As MHProNews knows, UMH owns and operates 55 MHCs comprised of 10,400 home sites in six states and also maintains a portfolio of REIT securities.

(Image credit: UMH Properties, Inc.)