In the wake of UMH Properties, Inc. solid first quarter, the company plans to add 700-800 rental homes in fiscal year 2016, saying, “Our strong Q1 results represent an excellent start to 2016 that we intend to build upon going forward,” according to thefly.

As MHProNews reported May 9, 2016, for the quarter ending march 31, 2016, rental income for UMH rose 26.5 percent over the comparable quarter last year. In addition to meeting Thomson Reuters expectation for earnings per share, the company reported rental home occupancy increased from 92.9 percent as of Dec. 31, 2015 to 94.8 percent for the quarter ending March 31, 2016.

UMH owns and operates 98 manufactured home communities in seven states. ##

(Image credit:UMH Properties, Inc.)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.