UMH Properties, Inc. reports total income for the first quarter of 2014 rose to $15,849,000 from $13,426,000 for the same period of 2013, resulting in income of $6,559,000 in 2014 over $5,695,000 in 2013, according to marketwatch.com. Based in Freehold, New Jersey, the company reports core funds from operations attributable to common shareholders (Core FFO) of $2,425,000 or $0.11 per diluted share for the quarter ending March 31, 2014, as compared to $5,254,000 or $0.30 per diluted share for the quarter that ended March 31, 2013. Samuel A. Landy, president and CEO says overall occupancy in the communities was stable at 81.0 percent while occupancy in the rental units is at 91.1 percent. Additionally, sales of manufactured homes was hampered by the severe winter weather. UMH acquired eight manufactured housing communities (MHCs) in the first quarter 2014 comprised of 1,018 homesites. MHProNews.com understands the publicly-owned real estate investment trust (REIT) owns and operates 82 MHCs containing 14,500 homesites as well as a portfolio of REIT securities. ##
