FinancialNewsNetwork has informed MHProNews.com that two of the three top residential real estate investment trusts (REITs) that have the highest dividend yield in the industry are MHC owners. UMH is number one with a dividend yield of 7.9 percent. UMH has a portfolio of 39 manufactured home communities in New York, Pennsylvania, New Jersey, Ohio, and Tennessee, comprising 8,900 homesites, as well as 500 acres for the development of new sites. A subsidiary, UMH Sales and Finance, sells manufactured homes into its communities. Ranked number two is Sun Communities, Inc., with a dividend yield of 7.5 percent. Sun owns and operates 159 manufactured housing and recreational vehicle communities with 54,800 developed sites in 18 states, mostly in the Midwest and Southeast. The company had a registered public offering recently of 4,600,000 shares of common stock at $35.50 per share which should net the company $155.5 million. The third place REIT, Mid-American Apartment Communities, had a dividend yield of 4.7 percent.
(Photo credit: UMH)