Umh Pptys Inc Stock Price, News & Analysis

UMH Properties reported a net loss of $22.5 million for Q2 2022, compared to a net income of $8.4 million in Q2 2021. Total income rose by 7% to $49.2 million, but expenses increased to $41.3 million, marking a significant impact on profitability. Normalized FFO dropped to $8.7 million or $0.16 per share, influenced by costs from redeeming 9.9 million shares of preferred stock. The company continues to grow its rental portfolio and expects future earnings improvements following the recapitalization.

UMH Properties, Inc. (NYSE: UMH) announced the successful redemption of all 9,884,000 shares of its 6.75% Series C Cumulative Redeemable Preferred Stock on July 26, 2022. Each share was redeemed at $25.2578, which includes accrued dividends. The funds for this redemption were primarily sourced from a $26 million Fannie Mae add-on, a $103 million Series A Bond offering in Israel, and equity from its ATM program. This move is expected to lower UMH's capital costs and boost Funds from Operations (FFO) and earnings for shareholders.

UMH Properties, Inc. (NYSE: UMH) announced the acquisition of Hidden Creek, a manufactured home community in Erie, Michigan, comprising 351 homesites with a 63% occupancy rate. The acquisition aligns with UMH's growth strategy, as it currently holds 131 communities across several states, totaling around 24,800 developed homesites. Year-to-date, the company has purchased four communities for $39 million, reporting a blended occupancy of 56% with potential for further site infill.

FREEHOLD, NJ, July 1, 2022 - UMH Properties, Inc. (NYSE:UMH) has declared a quarterly cash dividend of $0.20 per share on its Common Stock, payable on September 15, 2022, to shareholders of record by August 15, 2022. This sets the annual dividend rate at $0.80 per share. Furthermore, a quarterly dividend of $0.3984375 per share for the Series D Cumulative Redeemable Preferred Stock is also declared, with similar payment details. UMH operates 130 manufactured home communities across several states, with around 24,400 developed homesites.

UMH Properties announced its Second Quarter 2022 Financial Results Webcast and Conference Call set for August 4, 2022, at 10:00 a.m. ET. The results will be available on the Company’s website after trading closes on August 3, 2022. UMH, a REIT focused on manufactured home communities, operates 130 communities with approximately 24,400 homesites across nine states and one community in Florida. Participants can join via the Company’s website or by conference call.

UMH Properties has announced the redemption of all 9,884,000 shares of its 6.75% Series C Cumulative Redeemable Preferred Stock on July 26, 2022. The shares will be redeemed at a total price of $25.2578 per share, which includes accrued dividends. Following the redemption, trading of these shares under the symbol UMH.PRC will cease on the NYSE. Holders of the preferred stock will receive payment upon surrendering their certificates to the redemption agent.

UMH Properties, a public equity REIT, announced participation in Nareit’s REITweek: 2022 Investor Conference on June 8, 2022, at 9:30 a.m. ET. Key executives, including Samuel A. Landy and Anna T. Chew, will present at the event in New York City.

The presentation will be accessible via a live webcast on the company’s website, along with replay options and presentation materials for 30 days post-event. UMH operates 130 manufactured home communities across various states, totaling around 24,400 homesites.

UMH Properties, Inc. has successfully acquired a manufactured home community in Dothan, Alabama for approximately $3.9 million. The community comprises 139 homesites, with about 6% currently occupied, situated on 36 acres. President Samuel A. Landy emphasized the strategic location, just two miles from an existing property, and highlighted the potential for growth through a value-added business plan. The acquisition presents opportunities for profitability and appreciation due to strong rental demand and below replacement cost purchases.

UMH Properties, Inc. (NYSE:UMH) reported a Total Income of $45.9 million for Q1 2022, marking a 6% increase from $43.1 million in Q1 2021. However, the company faced a Net Loss of $4.3 million or $0.09 per diluted share, in contrast to a Net Income of $6.8 million or $0.16 per diluted share in the previous year. Funds from Operations (FFO) were slightly up at $8.5 million ($0.16 per share) compared to $8.4 million ($0.19 per share) a year earlier. Notably, the company raised its quarterly dividend by 5.3% to $0.20 per share, signaling confidence despite losses.