NOTE
1 – ORGANIZATION
UMH
Properties, Inc., a Maryland corporation, and its subsidiaries (the “Company”) operates as a real estate investment trust
(“REIT”) deriving its income primarily from real estate rental operations. The Company, through its wholly-owned taxable
subsidiary, UMH Sales and Finance, Inc. (“S&F”), also sells manufactured homes to residents and prospective residents
in our communities. Inherent in the operations of manufactured home communities are site vacancies. S&F was established to fill these
vacancies and enhance the value of the communities. The Company also owns a portfolio of REIT securities which the Company generally
limits to no more than approximately 15 % of its undepreciated assets (which is the Company’s total assets excluding accumulated
depreciation). Management views the Company as a single segment based on its method of internal reporting in addition to its allocation
of capital and resources.
On
March 11, 2020, the World Health Organization declared COVID-19 a pandemic, and on March 13, 2020, the United States declared a national
emergency with respect to COVID-19. The Company’s 127 residential communities remain open and operational. The effects of the COVID-19
pandemic did not significantly impact the Company’s operating results for the year ended December 31, 2021. However, the future
effects of the evolving impact of the COVID-19 pandemic are uncertain.
Description
of the Business
As
of December 31, 2021, the Company owned and operated 127 manufactured home communities containing approximately 24,000 developed sites.
These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama and South
Carolina.
These
manufactured home communities are listed by trade names as follows:
MANUFACTURED
HOME COMMUNITY
LOCATION
Allentown
Memphis,
Tennessee
Arbor
Estates
Doylestown,
Pennsylvania
Auburn
Estates
Orrville,
Ohio
Bayshore
Estates
Sandusky,
Ohio
Birchwood
Farms
Birch
Run, Michigan
Boardwalk
Elkhart,
Indiana
Broadmore
Estates
Goshen,
Indiana
Brookside
Village
Berwick,
Pennsylvania
Brookview
Village
Greenfield
Center, New York
Camelot
Village
Anderson,
Indiana
Camelot
Woods
Altoona,
Pennsylvania
Candlewick
Court
Owosso,
Michigan
Carsons
Chambersburg,
Pennsylvania
Catalina
Middletown,
Ohio
Cedarcrest
Village
Vineland,
New Jersey
Chambersburg
I & II
Chambersburg,
Pennsylvania
Chelsea
Sayre,
Pennsylvania
Cinnamon
Woods
Conowingo,
Maryland
City
View
Lewistown,
Pennsylvania
Clinton
Mobile Home Resort
Tiffin,
Ohio
Collingwood
Horseheads,
New York
Colonial
Heights
Wintersville,
Ohio
Countryside
Estates
Muncie,
Indiana
Countryside
Estates
Ravenna,
Ohio
Countryside
Village
Columbia,
Tennessee
Cranberry
Village
Cranberry
Township, Pennsylvania
MANUFACTURED
HOME COMMUNITY
LOCATION
Crestview
Athens,
Pennsylvania
Cross
Keys Village
Duncansville,
Pennsylvania
Crossroads
Village
Mount
Pleasant, Pennsylvania
Dallas
Mobile Home Community
Toronto,
Ohio
Deer
Meadows
New
Springfield, Ohio
Deer
Run
Dothan,
Alabama
D
& R Village
Clifton
Park, New York
Evergreen
Estates
Lodi,
Ohio
Evergreen
Manor
Bedford,
Ohio
Evergreen
Village
Mantua,
Ohio
Fairview
Manor
Millville,
New Jersey
Fifty
One Estates
Elizabeth,
Pennsylvania
Forest
Creek
Elkhart,
Indiana
Forest
Park Village
Cranberry
Township, Pennsylvania
Fox
Chapel Village
Cheswick,
Pennsylvania
Frieden
Manor
Schuylkill
Haven, Pennsylvania
Friendly
Village
Perrysburg,
Ohio
Green
Acres
Chambersburg,
Pennsylvania
Gregory
Courts
Honey
Brook, Pennsylvania
Hayden
Heights
Dublin,
O
Free historical financial statements for UMH Properties Inc..
See how revenue, income, cash flow, and balance sheet financials have changed over 48 quarters since 2012. Compare with UMH stock chart to see long term trends.
Data imported from UMH Properties Inc. SEC filings. Check original filings before making any investment decision.