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UMH Income Rises in Second Quarter

umh_properties_creditFreehold, New Jersey-based UMH Properties, Inc. reports income for the second quarter of 2014 was $18,149,000 as opposed to $16,098,000 for the comparable period in 2013, according to marketwatch.com. Total expenses rose from $14,197,000 in Q2 2013 to $16,490,000, in Q2 2014, and income from community operations rose from $6,836,000 to $7,427,000 for the comparable period. Same store occupancy has risen to 82.6 percent from 81.3 percent one year ago. UMH recently upped its stake in the Utica Shale energy exploration region of Pennsylvania and Ohio by purchasing six manufactured home communities (MHCs) for a total price of $17.6 million, as MHProNews posted July 17, 2014 regarding four of the MHCs near Pittsburgh. UMH now owns 88 MHCs comprised of 15,100 homesites, as well as a portfolio of real estate investment trust (REIT) securities. ##

(Image credit: UMH Properties, Inc.)

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