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. (NYSE: UMH; TASE: UMH) is a public equity REIT that regularly issues news and updates about its manufactured home community portfolio, financial performance and corporate actions. Organized in 1968, the company owns and operates 145 manufactured home communities containing approximately 27,000 developed homesites, of which about 11,000 are rental homes, along with over 1,000 self-storage units in multiple U.S. states.
News about UMH often covers operating updates for specific quarters and years, including changes in rental and related income, sales of manufactured homes, community net operating income and occupancy trends. The company provides operations updates that describe the number of new rental homes added, conversions of homes from inventory to revenue-generating rentals and same property occupancy metrics across its communities.
Investors following UMH’s news can also expect announcements on acquisitions of manufactured home communities, such as purchases in Georgia and Maryland, and information on joint venture communities with Nuveen Real Estate. Financing and capital markets activities are another frequent topic, including additions to the company’s Fannie Mae credit facility, bond offerings, refinancings of communities and updates on at-the-market equity programs and stock repurchase authorizations.
UMH’s press releases additionally report on quarterly and annual financial results, dividend declarations on common and preferred stock, and corporate governance developments such as appointments to the Board of Directors or investor presentations. For readers tracking UMH (UMH) news, this stream of updates provides insight into the company’s manufactured housing operations, portfolio growth, capital structure decisions and board-level actions over time.
UMH Properties, Inc. reported a 5% increase in Total Income for 2022, totaling $195.8 million compared to $186.1 million in 2021. However, it faced a net loss of $36.3 million or $0.67 per diluted share, contrasting with a profit of $21.2 million in the previous year. Funds from Operations (FFO) also declined to $28.5 million or $0.51 per diluted share, down from $39.1 million in 2021. The company expanded its rental home portfolio by 5% to approximately 9,100 homes and reported plans for future growth driven by acquisitions and increased demand. A conference call is scheduled for March 1, 2023, to discuss results further.
UMH Properties, Inc. (NYSE:UMH) announced the tax treatment of its 2022 distributions. For common shares, a total distribution of $0.80 per share was allocated entirely as return of capital. The preferred shares saw a total distribution of $1.10155 for Series C and $1.593752 for Series D, with portions classified as non-qualifying ordinary income and return of capital. The company encourages shareholders to consult their tax advisors regarding the specific tax implications. UMH operates 135 manufactured home communities across multiple states, with over 25,700 homesites.
UMH Properties, Inc. (NYSE:UMH) will release its Fourth Quarter and Full Year 2022 Financial Results on February 28, 2023. The results will be available on its website in the Financials section after the close of trading. A webcast and conference call will be held on March 1, 2023, at 10:00 a.m. ET, discussing the results, market conditions, and future outlook. Interested participants can join via the company's website or by calling the provided toll-free numbers. The company operates 135 manufactured home communities across multiple states, encompassing approximately 25,700 homesites.
UMH Properties, Inc. (NYSE: UMH) has completed the acquisition of a new manufactured home community, Mighty Oak, located in Albany, Georgia, for $3.65 million. The community comprises 118 developed homesites over 26 acres. This marks UMH's first venture into Georgia, expanding its presence in the Southeast region. The acquisition will cater to a growing workforce in Albany, supported by nearby corporations such as Pratt Industries and Thrush Aircraft, which are investing significantly in their facilities. UMH plans to implement a rental home program to enhance community occupancy and returns, while also focusing on additional opportunities within qualified opportunity zones.
UMH Properties, Inc. announced a 2.5% increase in its quarterly common stock dividend, raising it from $0.20 to $0.205 per share. This dividend is payable on March 15, 2023, to shareholders of record by February 15, 2023, equating to an annual rate of $0.82 per share. President Samuel A. Landy highlighted that this marks the third consecutive annual increase and indicates the company's strong earnings potential following the redemption of preferred stock and solid operating performance. The company aims for continued demand and potential future dividend growth.
UMH Properties, Inc. (NYSE: UMH) announced a quarterly dividend of $0.3984375 per share, effective for the period from December 1, 2022 to February 28, 2023. This dividend will be paid on March 15, 2023, to shareholders of record as of February 15, 2023. The Series D preferred share dividends are cumulative and paid quarterly, totaling an annual rate of $1.59375 per share. UMH operates 134 manufactured home communities across several states, encompassing approximately 25,600 developed homesites.
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UMH Properties announced the acquisition of a manufactured home community in Jackson, New Jersey, for $23 million. This acquisition includes 260 developed homesites, with a high occupancy rate of 98%. The investment is expected to enhance operating efficiencies and drive improved results. The community is strategically located near UMH's corporate office and another property they have operated for over 53 years. In 2022, UMH also acquired six communities for a combined $86.3 million, totaling around 1,500 sites.
UMH Properties has completed the acquisition of Fohl Village, a manufactured home community in Canton, Ohio, for $19.1 million. This community features 321 homesites, with a 77% occupancy rate. The acquisition aligns with UMH's growth strategy, adding to the six communities purchased year-to-date, totaling $63 million and comprising 1,226 sites with a 59% blended occupancy.
CEO Samuel A. Landy notes strong potential for value increase through occupancy growth and operational improvements.
UMH Properties, Inc. (UMH) reported a total income of $51.9 million for Q3 2022, an 8% increase from $48.0 million in Q3 2021. However, the company faced a net loss attributable to common shareholders of $9.7 million or $0.18 per diluted share, widening from $3.4 million or $0.07 per diluted share a year earlier. Normalized FFO for the quarter was $11.7 million or $0.21 per share, slightly below $11.1 million or $0.23 last year. The company increased its rental home portfolio and saw a 16% growth in manufactured home sales.
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