UMH Properties Acquires Two New Jersey Manufactured Home Communities

UMH Properties, Inc. UMH recently acquired two age-restricted manufactured home communities, Cedar Grove Park and Maplewood Village in Mantua, NJ, for a total purchase price of $24.6 million.Cedar Grove Park and Maplewood Village are high-quality stabilized communities that contain all modern, homeowner-occupied, manufactured homes. These communities, which are situated on approximately 38 acres, consist of 266 developed homesites, of which 100% are occupied.These communities are well-located near Philadelphia and experience strong demand for sales.This deal is expected to be accretive to earnings with additional upside through the brokerage of home sales.The company continues to look for acquisitions that align with its growth criteria and anticipates that it will make additional acquisitions as 2025 progresses.UMH: In a SnapshotFollowing this acquisition, UMH Properties now owns and operates 141 manufactured home communities, containing around 26,500 developed homesites, of which 10,300 contain rental homes and over 1,000 self-storage units.The company’s ability to provide competitively priced quality homes is likely to help it witness healthy rental demand in the upcoming period, especially in a market where the gap between buying and renting is expected to continue in the following quarters, and mortgage rates remain high. Its communities continue to experience strong demand for both sales and rentals.Shares of this Zacks Rank #3 (Hold) company have declined 1.1% over the past three months against the industry’s growth of 2.9%. Image Source: Zacks Investment Research Stocks to ConsiderSome better-ranked stocks from the residential REIT sector are Modiv Industrial, Inc. MDV and Elme Communities ELME.The Zacks Consensus Estimate for Modiv’s 2025 FFO per share is pegged at $1.36, which indicates year-over-year growth of 1.5%. MDV currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.ELME carries a Zacks Rank #2 (Buy) at present. The Zacks Consensus Estimate for Elme’s full-year FFO per share is 95 cents, which indicates an increase of 1.1% from the year-ago period.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UMH Properties, Inc. (UMH): Free Stock Analysis Report Modiv Industrial, Inc. (MDV): Free Stock Analysis Report Elme Communities (ELME): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks