Manufactured Home Community Owner UMH Properties to Sell a Preferred

UNH Properties, a REIT, is selling 2,000,000 shares of a new preferred issue.

Preliminary information is here.

The company owns manufactured home communities and honestly we like the company.

They currently have a 8% issue outstanding (UMH-B) which is not redeemable until 2020 and is trading in the $27/share area.

The new issue will trade under the permanent ticker of UMH-D when NYSE trading begins.