UMH Properties (UMH) - Hoya Hotseat

Hoya Capital

UMH Properties (UMH) - Hoya Hotseat In the News All UMH Dec 20 Written By Alex Pettee, CFA Hoya Capital UMH Properties, Inc. is a public equity REIT (real estate investment trust) headquartered in Freehold, NJ. The Company owns and operates a portfolio of 135 manufactured home communities with approximately 25,800 developed homesites. These communities are located in eleven states: New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia.

UMH has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate. Continue reading ▶︎ Interviews Press All UMH Hoya Hotseat Alex Pettee, CFA Transcript umh properties owns approximately 134 manufactured home communities with approximately 25,000 home sites we've been very successful buying turnaround properties uh doing Capital Improvements upgrading those communities and adding new manufactured homes as rental houses from 2011 to date we've HED 10,000 rental home we know you know we've been doing communi since 1968 so we have a 55 year history we know uh as you get the occupancy above 80% the communities become efficient and eventually you can get to maybe as good as a 30% expense rate up but even if it's 40% you know it's it's that occupancy above 80% that makes them profitable and those rentals homes do that so that's what that's what we're doing we been making Acquisitions building expansions uh buying turnaround properties and and growing the company uh all these ways well um was founded in 1968 uh I I believe somewhere in the 90s we became a reap uh you become a reap for the uh tax benefit of being a real estate investment trust you become a re for the uh liquidity of being a publicly held company uh it gives us Capital to grow they our shareholders at dividend uh it's you know it's been very beneficial for ...