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Posts Tagged ‘peers’

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.)

MHC Owner wants to Include Affordable Housing in Retirement Community

August 13th, 2012 Comments off

LedyardPatch reports from Ledyard, Connecticut the residents of 55 plus community MHC Stonegate Village are opposing a plan by the owners to develop an undeveloped 22 site area for residents of all ages, including seven units as affordable to comply with HUD requirements. Owner Third Garden Park, LP of Stamford, CT is asking the Ledyard Zoning Commission for permission to change the rules. Current residents do not want to sacrifice their peace and quiet and community of peers, and also fear property values will diminish because the new units will not be made of the same materials. MHProNews has learned Third Garden says the aesthetic criteria will be expensive to reproduce, especially because 30 percent of the development will be designated to sell at specific price points below market value. Stay tuned.

(Image credit: Lighthouse Maps)