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.
UMH Properties, Inc. (NYSE:UMH) has released its 2020 Annual Report, now available on its website. The report highlights a transformational year for the company, with exceptional results across various fronts, setting the stage for future growth. UMH operates 126 manufactured home communities with approximately 23,800 homesites across several states, including New Jersey and New York. CEO Samuel A. Landy encourages stakeholders to review the report for insights into the company's performance and outlook.
UMH Properties reported a 12% increase in Total Income for 2020, reaching $163.6 million. The company's Net Income attributable to shareholders showed a significant loss of $29.8 million, or $0.72 per diluted share. For Q4 2020, Total Income rose 13% to $42.8 million, with a net income of $15.6 million, recovering from a Q4 2019 loss. Key achievements included a 20% rise in Net Operating Income and a 5.5% dividend hike to $0.76 per share. The company actively expanded its rental home portfolio and improved its occupancy rates amidst the pandemic.
UMH Properties, Inc. (NYSE:UMH) has disclosed the tax treatment of its 2020 cash distributions for common and preferred shareholders. Total cash distributions for common shares amounted to $0.72 per share, classified entirely as return of capital. Preferred shares saw varying distributions with the Series B totaling $1.77, Series C at $1.69, and Series D at $1.59. Each preferred series included portions classified as non-qualifying ordinary income. Shareholders are advised to consult tax advisors regarding their specific tax situations related to these distributions.
UMH Properties has successfully acquired a manufactured home community in Sumter, South Carolina for approximately $3.4 million. The property includes 142 developed homesites, with around 49% occupancy, and spans 24 acres. CEO Samuel A. Landy expressed enthusiasm for the acquisition, noting the community's good condition and the potential for revenue growth through rental home and marketing strategies. The company aims to expand further in the Southeast, building on its portfolio of 126 communities and 23,700 homesites across various states.
UMH Properties, Inc. announced a 6% increase in its quarterly common stock dividend, raising it from $0.18 to $0.19 per share. The dividend will be payable on March 15, 2021, to shareholders recorded by February 16, 2021. This adjustment reflects an annual dividend rate of $0.76 per share. The company operates 125 manufactured home communities across several states, with approximately 23,600 developed homesites.
UMH Properties, a public equity REIT, declared quarterly dividends on its Series C and Series D preferred stocks, totaling $0.421875 and $0.3984375 per share, respectively. These dividends are for the period from December 1, 2020, to February 28, 2021, and are payable on March 15, 2021. Shareholders must be on record by February 16, 2021. The Series C dividends have an annual rate of $1.6875, while Series D has an annual rate of $1.59375. UMH owns 125 manufactured home communities across multiple states, managing approximately 23,600 developed homesites.
UMH Properties has successfully acquired a manufactured home community in Dothan, Alabama for approximately $4.6 million. This community comprises 195 homesites, with around 37% currently occupied and spans roughly 33 acres. UMH's CEO, Samuel A. Landy, highlighted the company's strong performance amidst economic challenges, maintaining rent collections near pre-pandemic levels. The Dothan community aligns with UMH's strategy to expand into similar demographics found in their Northeast and Midwest markets, with plans to enhance occupancy and value.
UMH Properties, Inc. has promoted Shaya Baron to Director of Insurance, enhancing its insurance operations across states where it operates. The announcement was made by Samuel A. Landy, President and CEO, highlighting Baron's expertise in providing affordable insurance for renters. UMH, established in 1968, manages 124 manufactured home communities with around 23,400 homesites in multiple states, including New Jersey and New York. This leadership change aims to strengthen UMH’s insurance strategy, ensuring adequate coverage for its operational needs.
UMH Properties, Inc. has announced the promotion of T.C. Sheppard to Vice President of Consumer Finance. Samuel A. Landy, the company's CEO, praised Sheppard's contributions, highlighting his role in enhancing financing options leading to increased home sales in their manufactured home communities. UMH Properties operates 124 communities across several states, providing reliable income streams through successful financing initiatives. The company aims to expand its sales and finance operations further.
UMH Properties, Inc. (NYSE: UMH) announced the promotion of Aaron Potter to Director of ESG, effective December 17, 2020. Potter, who joined the company in 2017, will lead efforts in sustainability, social responsibility, and diversity. Under his leadership, UMH aims to enhance its commitment to quality affordable housing, with rent starting at $750 for three-bedroom homes. The company emphasizes its initiatives that align with environmental, social, and governance (ESG) principles, aiming to improve shareholder returns through responsible practices.