UMH Properties Inc. Stock Analysis UMH

UMH Properties, Inc. is a real estate investment trust, which engages in the ownership and operation of manufactured home communities in seven states throughout the northeast. The Company’s primary business is the ownership and operation of manufactured home communities. The company also leases manufactured homes to residents and through its wholly owned taxable REIT subsidiary, UMH Sales and Finance, Inc., sells and finances the sale of manufactured homes to residents and prospective residents. The firm owns and operates 145 manufactured home communities, containing approximately 27,000 developed homesites, of which 10,800 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 145 communities are two communities in Florida, containing 363 sites, and one community in Pennsylvania, containing 113 sites, that the Company has an ownership interest in and operates through its joint venture with Nuveen Real Estate.