Provider of equity research Sidoti & Company LLC has issued a BUY rating for the stock of manufactured housing community owner UMH Properties, Inc. based on its presence in the Utica and Marcellus Shale energy exploration region. Sidoti says an influx of workers and families to the area, which includes eastern Ohio, western New York and Pennsylvania, and northern West Virginia will increase UMH occupancy from 80 percent in 2012 to 82 percent in 2013 and 84 percent in 2014. Additionally, revenues will rise 33 percent to $62.2 million in 2013 and 16 percent higher in 2014 to $72 million. The company estimates funds from operations (FFO) for UMH will increase from $0.62 per share in 2012 to $0.84 per share this year and $0.89 in 2014. As MHProNews knows, UMH owns and operates 68 manufactured housing communities comprised of 12,800 sites in seven states, as well as a portfolio of real estate investment trust securities.
