UMH Properties: Elevated P/FFO On A Flimsy Foundation (Rating Downgrade)

1 E 1 TILE 494 1 1175 JamesBrey Pennsylvania Ohio Indiana New York Tennessee (2) New Jersey Michigan Alabama South Carolin Georgia Maryland Total (2) Introduction In my initial piece on UMH Properties (NYSE:UMH), a specialized REIT with a focus on residential manufactured housing, I noted that the company had been exceuting steady rental increases and improving occupancy, with the potential for further FFO growth in the future. With a balance sheet that could support FFO generation in the fitture, I conclud ...