UMH Properties acquired two Maryland manufactured home communities for $14.625 million, expanding its operational footprint in the region.
Quiver AI Summary
UMH Properties, Inc. has announced the acquisition of two manufactured home communities in Conowingo, Maryland, for $14.625 million, adding a total of 191 developed homesites to its portfolio. The communities, Conowingo Court and Maybelle Manor, boast an occupancy rate of 79%, with Maybelle Manor being fully occupied. This acquisition allows UMH to enhance operational efficiencies by expanding its presence in the Maryland market, as these communities adjoin its existing property, Cinnamon Woods. Year to date, UMH has completed the acquisition of four communities totaling 457 sites at a cost of $39.2 million and is optimistic about future acquisition opportunities. The company, which operates 143 manufactured home communities across several states, aims to increase occupancy and property value in its new acquisitions.
Potential Positives
- Completion of the acquisition of two manufactured home communities in Maryland for $14.625 million enhances UMH Properties' market presence in a strategic location.
- The acquisition adds 191 developed homesites, with 79% occupancy, contributing to revenue potential and operational efficiency.
- Maybelle Manor, a fully occupied community, strengthens the company’s portfolio with a stable income-producing asset.
- Year-to-date, UMH Properties has acquired four communities for a total of $39.2 million, indicating an active growth strategy and intention to expand further.
Potential Negatives
- Acquisition of the Conowingo Court and Maybelle Manor communities may indicate a need to address occupancy challenges, as Conowingo Court has a lower occupancy rate with 79% homesites occupied compared to Maybelle Manor's 100% occupancy.
- The report on occupancy rates may highlight potential risks in their investment strategy, particularly with the value-add community Conowingo Court where occupancy growth is uncertain.
- Despite recent acquisitions, the company's reliance on expansion may raise concerns about the overall stability of their existing properties and financial performance amidst a potentially volatile real estate market.
FAQ
What communities did UMH Properties acquire in Maryland?
UMH Properties acquired Conowingo Court and Maybelle Manor, two manufactured home communities in Conowingo, Maryland.
What is the total purchase price for the acquired communities?
The total purchase price for the acquired communities is $14.625 million.
How many homesites are in the acquired communities?
There are 191 developed homesites in the acquired communities, with 79% currently occupied.
How does this acquisition impact UMH Properties' operations?
This acquisition allows UMH to create operational efficiencies and improve returns by expanding their footprint in Maryland.
How many communities has UMH Properties acquired this year?
Year to date, UMH Properties has acquired four communities containing 457 sites for a total of $39.2 million.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UMH Insider Trading Activity
$UMH insiders have traded $UMH stock on the open market 8 times in the past 6 months. Of those trades, 2 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $UMH stock by insiders over the last 6 months:
- WILLIAM EDWARD MITCHELL has made 0 purchases and 3 sales selling 170,652 shares for an estimated $2,929,607.
- SAMUEL A LANDY (President and CEO) has made 0 purchases and 2 sales selling 50,000 shares for an estimated $849,500.
- AMY LYNN BUTEWICZ sold 2,800 shares for an estimated $47,460
- JEFFREY A CARUS has made 2 purchases buying 60 shares for an estimated $1,049 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$UMH Hedge Fund Activity
We have seen 103 institutional investors add shares of $UMH stock to their portfolio, and 95 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL RESEARCH GLOBAL INVESTORS added 1,004,759 shares (+24.9%) to their portfolio in Q1 2025, for an estimated $18,788,993
- ALLIANCEBERNSTEIN L.P. added 820,934 shares (+1091.0%) to their portfolio in Q1 2025, for an estimated $15,351,465
- BROOKFIELD CORP /ON/ removed 666,534 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,464,185
- MARSHALL WACE, LLP removed 230,662 shares (-46.5%) from their portfolio in Q1 2025, for an estimated $4,313,379
- RAYMOND JAMES FINANCIAL INC removed 208,807 shares (-16.9%) from their portfolio in Q1 2025, for an estimated $3,904,690
- GOLDMAN SACHS GROUP INC removed 206,818 shares (-43.3%) from their portfolio in Q1 2025, for an estimated $3,867,496
- DEPRINCE RACE & ZOLLO INC added 196,827 shares (+inf%) to their portfolio in Q1 2025, for an estimated $3,680,664
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$UMH Analyst Ratings
Wall Street analysts have issued reports on $UMH in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- B. Riley issued a "Buy" rating on 05/13/2025
To track analyst ratings and price targets for $UMH, check out Quiver Quantitative's $UMH forecast page.
Full Release
FREEHOLD, NJ, July 02, 2025 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH; TASE: UMH) closed on the acquisition of two manufactured home communities, located in Conowingo, Maryland, for a total purchase price of $14.625 million. These communities contain 191 developed homesites, of which 79% are occupied. They are situated on approximately 82 acres.
Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to complete the acquisition of Conowingo Court and Maybelle Manor, further expanding our footprint in the Maryland market. These two communities adjoin our existing Maryland community, Cinnamon Woods, which will create efficiencies in our operation, resulting in higher returns.
“Maybelle Manor is a high-quality stabilized community that contains 49 sites, which are 100% occupied. The community consists of predominantly modern, homeowner occupied, multi-section homes. Conowingo Court is a value-add community that contains 142 sites, of which 101 sites are homeowner occupied. We will implement our typical business plan, which should result in growing occupancy rates and property-level value over time.
“Year to date, we have completed the acquisition of four communities, containing 457 sites, for a total purchase price of $39.2 million. We continue to evaluate acquisition opportunities and anticipate a growing acquisition pipeline as we progress throughout the remainder of the year.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 143 manufactured home communities, containing approximately 26,700 developed homesites, of which 10,600 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 143 communities are two communities in Florida, containing 363 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate.
Contact: Nelli Madden
732-577-9997
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