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UMH Properties Inc together with its subsidiaries, is a real estate investment trust. It is engaged in the business of ownership and operation of manufactured home communities - leasing manufactured homesites to residents. The Company also leases manufactured homes to residents and, through its wholly-owned taxable REIT subsidiary, it sells and finances the sale of manufactured homes to residents and prospective residents of its communities and for placement on customers' privately-owned land. The company also owns the land, utility connections, streets, lighting, driveways, common area amenities, and other capital improvements. It earns income from lease agreements for its sites and homes, where the company is the lessor.
Zacks Investment Research
UMH Properties (UMH) Q3 FFO Meet EstimatesUMH Properties reported quarterly FFO of $0.26 per share, matching consensus estimates, with revenues of $74.14 million exceeding expectations by 2.34%. However, the stock has underperformed the S&P 500 by 15.5% year-to-date. The company received a Zacks Rank #3 (Hold) rating with mixed estimate revisions, and its residential REIT industry ranks in the bottom 35% of Zacks industries.
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