Welcome to our dedicated page for Umh Pptys news (Ticker: UMH), a resource for investors and traders seeking the latest updates and insights on Umh Pptys stock.
UMH Properties, Inc. reports news as a public equity REIT focused on the ownership and operation of manufactured home communities. Company updates commonly cover community occupancy, conversion of homes from inventory to rental homes, manufactured home sales, rental and related charges, self-storage assets, and joint-venture communities.
Recurring announcements also include quarterly and annual financial results, FFO and normalized FFO measures, common and Series D preferred dividends, distribution tax treatment, annual report publication, refinancings, credit facilities, and other capital actions tied to the REIT’s manufactured-housing portfolio.
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UMH Properties, Inc. has successfully closed the acquisition of a 30-acre parcel in Perrysburg, Ohio, for $2.3 million. This site is entitled for the development of 115 manufactured home sites and is strategically adjacent to its existing Meadows of Perrysburg community, which boasts a high occupancy rate of 95% and site rents averaging $500 per month. The purchase aligns with UMH’s long-term growth strategy, aimed at developing vacant land, enhancing operations, and expanding their sales and finance operations.
Currently, UMH operates 135 manufactured home communities across several states, with approximately 25,700 homesites in total. This acquisition is anticipated to strengthen UMH's market position and operational results.
UMH Properties, Inc. (NYSE:UMH) announced strong first-quarter 2023 results, with sales reaching approximately $7.3 million, a 70% increase from $4.3 million in Q1 2022, setting a new sales record. The portfolio saw an increase of 238 units in occupancy, with new rental units rising by 230. Rental home occupancy improved to 93.7% from 93.3% at year-end 2022. Monthly rental charges surged by approximately $550,000 as of April 1, 2023, following implemented rent increases. Final Q1 results will be disclosed on May 9, 2023, with a management discussion on May 10, 2023.
UMH Properties, Inc. has announced a quarterly cash dividend of $0.205 per share, effective June 15, 2023, to shareholders on record by May 15, 2023. The annual rate for this common stock dividend amounts to $0.82 per share. Additionally, the company declared a quarterly dividend for its Series D Preferred Stock of $0.3984375 per share, also payable on June 15, 2023, with a cumulative annual rate of $1.59375 per share. UMH manages 135 manufactured home communities comprising approximately 25,700 homesites across various states, including New Jersey and Florida.
UMH Properties, Inc. (NYSE:UMH) announced it will host a First Quarter 2023 Financial Results Webcast on May 10, 2023. The results will be released on May 9, 2023, after market close. This event will provide insights into current market conditions and the company's future outlook. UMH, organized in 1968, operates 135 manufactured home communities comprising approximately 25,700 homesites across multiple states, including New Jersey, New York, and Pennsylvania, and has a joint venture in Florida. The company's financial performance and strategic direction will be key topics during the call.