Noting that the company intends to add 500 rental units to its housing stock each year, he says business is thriving in Nashville, Pittsburgh, eastern Pennsylvania, and eastern New York. “At a certain price point, we are basically unbeatable, and at that price point, we fill up,” he said. Landy added that the manufacturing-heavy regions in Indiana, Ohio and Michigan have proved more challenging.
As MHProNews knows, UMH owns and operates 92 manufactured home communities (MHCs) with 15,700 developed home sites. The company also owns a portfolio of REIT (real estate investment trust) securities.
Additionally, MHProNews has learned from prnewswire UMH will release its Q2 2015 financial results after the close of the New York Stock Exchange on Thurs., August 6, 2015. A webcast and conference call will follow on Fri., August 7, 2015 at 10:00 AM eastern time. Senior management will discuss the results and outlook for the future.
In trading today, UMH closed at $9.84 (-0.10%).##
(Photo credit: reit/Carisa Chappell–Sam Landy)
