A few weeks ago, I initiated a position in UMH Properties (NYSEMKT:UMH). At $9.73 a share (my entry price), I knew that the modular housing REIT would be one of my riskier REIT investments given the fact that the $184 million market cap is considered a micro-cap stock. Intuitively, I knew that UMH's regionally-based platform in seven states was not nearly as diverse as many of my better known SALSA REITs (in my monthly newsletter); however, I wanted to get a taste of the ingredients to see if the lesser known brand would deliver something special.
I first wrote about UMH back in March 2012 (in an article here) when the shares were trading at $10.24...
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