That noted, it is at times such as this upheaval caused by the Wuhan Virus (a.k.a. CCP Virus or COVID19) pandemic that an aspect of risk from renting homes instead of selling manufactured homes or having “owner occupied” HUD Code manufactured housing becomes more apparent.
Perhaps that awareness is what has caused UMH Properties (UMH) to issue more than their normal number of press releases since the CCP (Communist Chinese Party) Virus began the market rout, hoping to calm the fears of investors.
As the headline references, tonight’s market focus is on a media release by UMH Properties which shares their new April site fee and rental housing data. That will follow our normal left-right media headline snapshot, plus other standard graphical data and market daily fare.
Every Business Nightly – Headline and Graphical Insights-at-a-Glance.
Every weekday night that the stock markets are open, we provide headlines from left-of-center CNN followed by right-of-center Fox Business. It is sometimes surprising how much We share closing tickers and other related data courtesy of Yahoo Finance, and more. 5 to 10 minutes reading this MHProNews market report every business night could save you 30 minutes to an hour of similar reading or fact-gathering elsewhere.
Perhaps more important, you will get insights about the industry from experts that care, but also dare to challenge the routine narrative spun by some that arguably keeps manufactured housing underperforming during an affordable housing crisis.
Headlines from left-of-center CNN Business
- Oil closes at $10
- TOPSHOT – The sun sets behind smoke rising from the LyondellBasell-Houston Refining plant in Houston, Texas, on April 20, 2020. – US oil prices crashed to unprecedented lows on April 20 as futures in New York ended in negative territory for the first time amid a devastating supply glut that has forced traders to pay others to take the crude off their hands.
- Oil prices are back above 0, but the market is still ‘officially broken’
- LIVE UPDATES Stocks close down sharply as oil collapses
- Trump promises to rescue oil companies after prices go negative
- Top oil ETF plunges as crude dropped below zero
- Hundreds of US oil companies could go bankrupt
- No, oil below $0 doesn’t mean the gas station will pay you to fill up
- Bailing on stocks is a mistake: Cash is not always king
- People are buying more booze online than ever before
- Opinion: It’s foolish to worry about privacy when data can help fight coronavirus
- MORE TOP STORIES
- Joe Exotic in “Tiger King”
- Thanks ‘Tiger King.’ Netflix added 16 million subscribers last month
- Millions of homeowners are now delaying their mortgage payments
- How bad is the airline crisis? We’re about to find out
- Coronavirus’ toll on Chinese restaurants is devastating
- America’s black and Hispanic communities are bearing the brunt of the coronavirus crisis
- Virgin Australia collapses. Richard Branson says it’s ‘not the end’
- WFH burnout is real. How to avoid it.
- Coming soon: A ‘work from home’ ETF
- Sheryl Sandberg on coronavirus: ‘Right now, everyone’s living in Option B’
- HBO Max launches next month. Here’s what movies and shows it’ll have
- MARKETS
- ON THE FRONT LINES: GROCERY WORKERS
- People are seen lined up in front of Whole Foods during the coronavirus pandemic on April 15, 2020 in New York City. Grocery stores across the country have limited the number of customers allowed inside.
- Experts say grocery stores may need to ban customers from going inside
- Walmart employees required to wear face coverings
- Most grocery workers can’t take paid sick leave
- Grocery stores turn to robots to restock shelves
- Why it’s so hard for stores to get masks for workers
- EMERGENCY LOANS
- SAN FRANCISCO, CALIFORNIA – MARCH 27: David Nichol, the owner of Sociale, takes orders via his computer on March 27, 2020 in San Francisco, California. Sociale is working with a staff of only four people, and are offering curbside pickup during the coronavirus (COVID-19) shutdown. On Friday nights, they are also offering delivery to the Nichol's home town of San Anselmo in Marin County just north of San Francisco.
- What small business owners need to know now loan funds are tapped out
- Shake Shack returns $10 million emergency loan
- Chains got big PPP loans. Small businesses couldn’t
- Free resources small businesses can use right now
- How to get help if you can’t pay your bills
Headlines from right-of-center Fox Business
- Dow tumbles 631 points as oil selloff deepens
- The epic selloff in oil is weighing on majors Exxon Mobil and Chevron both among the Dow’s worst performers.
- Unemployment funds run low as coronavirus causes millions to lose jobs
- Energy secretary: US pumps up oil stockpiles with historically cheap fuel
- ‘We are in crisis’: Farmers panic as pandemic ruins hopes for great year
- Tyson Foods loses employees to virus, plants ‘look like operating rooms’: CEO
- ‘Gridlock’ grows: Lockdown protests erupt across the south
- Social Security recipients need to claim $500 check for kids by this deadline
- PPP is 2008 all over again with big banks winning, everyday Americans losing
- Lululemon exec sparks outrage with ‘bat fried rice’ shirt
- SBA coronavirus loan portal glitch puts thousands of businesses’ at risk
- Lo, A-Rod could buy Mets at discount due to coronavirus: Report
- Silicon Valley’s mega-rich quarantining in style on this remote island
- FDA approves first at-home coronavirus test
- Gronkowski reunites with Brady in NFL comeback with Buccs: Report
- Scaramucci defends flagship fund after report that a key backer cut him off
- SPORTS
- SEE IT: NFL team unveils new uniforms by mixing old and new designs
- NO CLOWNING
- MCDONALD’S
- Here’s when and how McDonald’s will reportedly begin reopening stores
- AND WINE NOT?
- MONEY
- Wine sales explode during coronavirus quarantines
- California town offering coronavirus testing to every resident
- McDonald’s to give free ‘Thank You Meals’ to first responders
- Home sales plunge in March
- Drug trafficking ‘completely disrupted’ by coronavirus pandemic: DEA
- UK to use Chinese tech in 5G network despite coronavirus fallout
- NO GREAT AWAKENING
- Coronavirus wedding cancelations prompt Busch Beer to give away a year’s supply
- Coronavirus prompts Google to offer free selling to online retailers
- Texts from Meghan Markle, Prince Harry to her father revealed in court records
- Coronavirus leads Uber to launch new delivery services
- New York charges Mallinckrodt with insurance fraud over opioid claims
- HBO Max to launch May 27, includes ‘Game of Thrones, ‘Big Little Lies’
- Banks lobby Treasury to fix coronavirus PPP rule to prioritize real small businesses
- In coronavirus pandemic, unleash pharmacists to be a potent weapon in the fight against COVID-19
- Bitcoin in the coronavirus crisis: Speculative bet or inflation hedge?
- Varney: AOC exploiting coronavirus horrors to push socialist agenda
- Tom Brady ejected from Tampa park closed because of coronavirus
- Florida restaurant finds New York man’s wedding ring years later — thanks to virus
- Amazon now accepting this alternative payment option
- Subaru recalls over 200K cars, SUVs over dangerous failure
- Execution drugs could help coronavirus patients, doctors say
- Popeyes helping customers during pandemic with new meal, apparel
- Former soccer coach in college admissions case to plead guilty
- This stat reveals how devastating coronavirus has been for US job market
- One of the biggest franchisees in US may apply for small business help
- Families of chopper passengers who died next to Kobe Bryant file lawsuits
- Impossible Foods to sell plant-based patties through food wholesaler Cheetah
- Varney: Coronavirus lockdown protests are ‘fundamentally American’
10 Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
Featured Focus – Where Business, Politics and Investing Can Meet
Before diving into the headlines, let’s note our prior report on 3.11.2020 about UMH’s effort to address possible concerns by investors. That release noted their concentration in the Marcellus shale, something that the recent plunge in oil may cause added attention from investors.
That tees up their release yesterday, that stated the following.
UMH PROPERTIES, INC. COMMENTS ON APRIL RENT COLLECTIONS
PRESS RELEASE GlobeNewswire
Apr. 20, 2020, 08:00 PM
FREEHOLD, NJ, April 20, 2020 (GLOBE NEWSWIRE) — UMH Properties, Inc. understands that its investors may have concerns about the Company’s rent collections and operations in light of the COVID-19 pandemic.
We are pleased to announce that our April rent collections are not significantly impacted by the crisis. As of April 20, 2020, we have collected approximately 91% of our total April site and home rental charges. This compares to 94% through March 20, 2020, 93% through February 20, 2020 and 92% through January 20, 2020. As the states in which we operate begin to re-open and our residents receive their stimulus checks, we expect that any April shortfall will be collected over the coming weeks and months.
UMH’s community operations continue to excel despite these challenging times. As of March 31, 2020, same store occupancy was 84.6%, representing an increase of 100 basis points over year-end 2019.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 122 manufactured home communities containing approximately 23,100 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities.
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Their 6 month stock performance is summarized in the graphic below.
Beyond that, companies like UMH arguably ought to be stepping back and reevaluating their relationship to the Manufactured Housing Institute (MHI). ICYMI, see the items linked below from the recent ‘big debate’ online about MHI, some of their key members and their related performance.
Related Reports:
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
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- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
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Spring 2020…
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our tenth anniversary and is in year 11 of publishing.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHLivingNews.com.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
http://latonykovach.com
Connect on LinkedIn: http://www.linkedin.com/in/latonykovach
