Umh Pptys Inc Stock Price, News & Analysis

UMH Properties, Inc. (NYSE:UMH) will ring the NYSE Opening Bell on August 25, 2020, celebrating the closing of a new credit facility with Fannie Mae and Wells Fargo. This initiative aligns with the company's mission to provide quality affordable housing through its 123 manufactured home communities. Samuel A. Landy, President and CEO, emphasized the collaboration with these financial institutions as a commitment to enhancing affordable housing access.

UMH Properties, Inc. (NYSE: UMH) announced the successful financing of 28 unencumbered communities, totaling approximately 4,100 sites, with Wells Fargo Bank for about $106 million. This Fannie Mae credit facility has a 10-year maturity and a fixed interest rate of 2.62%. The funds will be used to redeem 8% Series B Perpetual Preferred Stock and to enhance investments in additional acquisitions and rental homes. CEO Samuel A. Landy highlighted the significance of this financing in improving funds from operations by over $5 million annually.

UMH Properties, Inc. (NYSE:UMH) reported a significant increase in Total Income for Q2 2020, rising to $40.1 million from $37.2 million in Q2 2019, an 8% growth. Net Income Attributable to Common Shareholders was $10.2 million or $0.25 per diluted share, reversing a net loss of $5.5 million in the same period last year. The increase was primarily due to an unrealized gain of $13.4 million in their marketable securities. Funds from Operations also improved, with FFO reaching $7.1 million ($0.17 per diluted share), up from $5.7 million in Q2 2019.

UMH Properties has successfully closed the acquisition of a community in Pennsylvania for approximately $3.34 million. This community consists of 147 developed homesites, with an occupancy rate of about 56% and spans 27 acres. CEO Samuel A. Landy stated that Camelot Woods is a value-add community, and they plan to implement a rental program to enhance occupancy and generate substantial value. UMH continues to see strong rental demand across its portfolio, with collection rates returning to pre-pandemic levels.

UMH Properties, Inc. (NYSE: UMH) announced on July 1, 2020, the declaration of its quarterly cash dividend of $0.18 per share, payable on September 15, 2020, to shareholders of record by August 17, 2020. The annual dividend rate is set at $0.72 per share. Additionally, the Company declared dividends for its preferred stocks: $0.50 for Series B, $0.421875 for Series C, and $0.3984375 for Series D, all payable on the same date. UMH operates 122 manufactured home communities across multiple states.

UMH Properties, Inc. (NYSE:UMH) will host its Second Quarter 2020 Financial Results Webcast on August 6, 2020, at 10:00 a.m. ET. The financial results will be released on August 5, 2020, after market close. UMH operates 122 manufactured home communities across various states, owning approximately 23,100 developed homesites and a portfolio of REIT securities. This event will discuss performance metrics, current market conditions, and future outlook. Interested parties can join via webcast or conference call.

UMH Properties, Inc. (NYSE: UMH) announced that CEO Samuel A. Landy will participate in a webinar titled The Impact of the COVID-19 Pandemic on Real Estate on June 23, 2020, at 11:00 a.m. ET. The discussion will focus on the company's operational strategies before, during, and after the pandemic. UMH owns and manages 122 manufactured home communities across multiple states, providing approximately 23,100 homesites and a portfolio of REIT securities.

UMH Properties, a public equity REIT, announced participation in Nareit’s REITweek: 2020 Virtual Investor Conference. Senior management, including CEO Samuel A. Landy and CFO Anna T. Chew, will present on June 3, 2020, at 10:45 a.m. ET. The presentation will be accessible live via webcast at www.umh.reit, requiring registration for the event. The company operates 122 manufactured home communities across several states, providing approximately 23,100 homesites. The event aims to engage investors and share insights about UMH's operations and portfolio.

UMH Properties, Inc. will hold its 2020 Annual Meeting of Shareholders via live audio webcast on June 11, 2020, at 4:00 p.m. ET due to COVID-19 safety concerns. Shareholders as of March 27, 2020, can virtually attend, vote, and ask questions. The online platform will open at 3:45 p.m. ET. Shareholders are encouraged to cast votes in advance, with prior voting methods remaining valid. UMH operates 122 manufactured home communities across multiple states, managing approximately 23,100 homesites and holding a portfolio of REIT securities.