Sam Landy, president and CEO of UMH Properties, Inc. (NYSE: UMH, TASE: UMH), sat down for a video interview at Nareit's REITweek: 2024 Investor Conference, held in New York June 3-6.
Landy highlighted the company's strategic initiatives and financial performance. He emphasized ongoing expansions across New Jersey, Pennsylvania, Ohio, and Indiana, where UMH is consolidating properties for efficient management.
Regarding acquisitions, Landy noted limited opportunities but expressed readiness to capitalize on favorable prospects as they arise. The company aims to bolster its presence in regions like the Southeast, targeting new community acquisitions to enhance growth and shareholder value.
Landy also discussed UMH’s innovative housing projects, which include single and multi-section duplex houses designed to accommodate the 55 and older demographic. By splitting lots into multiple units, UMH expects to double rental revenue while offering cost-effective housing solutions.