UMH Properties Inc. (NYSE:UMH) is a Real Estate Investment Trust (REIT) that owns and operates a portfolio of manufactured home parks; its principal business involves leasing manufactured home sites to individual property owners, and leasing and selling manufactured homes to new residents through its UMH Sales & Finance (S&F) subsidiary.
UMH's strategy involves acquiring existing manufactured homes in attractive geographies below replacement cost, upgrading communal spaces and amenities, and adding rental units. Altogether, this strategy has been successful - as evidenced by strong 100% revenue growth between TTM and FY2011. The company has renewed its focus on rental single-family homes, which is well supported by demographic and economic trends.
The company owns and operates 98 communities with 17,800
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