Manufactured Home Community REIT UMH Properties Sells a Preferred

By: ,

UMH Properties (ticker:UMH), a REIT, has sold a nice 8% perpetual preferred offering.  This issue is a fairly small issue with just 1.8 million shares offered.

UMH is a REIT that owns manufactured home communities and rents ‘sites’ to home owners.  They have been in business since 1968 and have a long history of being relatively successful.

UMH has 1 other preferred issue outstanding–UMH-A has a coupon of 8.25% and trades at $25.99 at this moment. This issue has a 1st call date of 5/2016 so there may be a risk of call in the spring (but who really knows for sure). Yield to Worst on the old issue is 1.68% so it might make sense to some to trade out to the new issue assuming it comes to market near or below par.


The TEMPORARY OTC TICKER has not yet been announced.

Details of this issue are here.


Related Posts:

Tim McPartland

Connect with Tim McPartland

Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
Search Dividend Investor