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. has successfully acquired a manufactured home community in Sandusky, Ohio for approximately $10.3 million. The community, named Bayshore Estates, features 206 homesites with an occupancy rate of around 86%. This acquisition aligns with UMH's strategy in Ohio, a strong-performing market for the company. Plans are in place to enhance the community's infrastructure and increase occupancy through additional home rentals and sales. UMH Properties operates 127 communities across multiple states.
UMH Properties, Inc. (NYSE:UMH) reported significant financial improvements for Q1 2021, with total income reaching $43.1 million, a 15% increase from Q1 2020's $37.6 million. The company posted a net income of $6.8 million per diluted share, up from a net loss of $42.8 million. Funds from Operations (FFO) increased to $8.4 million ($0.19 per share), while Normalized FFO rose by 43%. Rental income climbed 13%, and occupancy rates improved to 95.4%. The quarterly dividend was raised by 5.5% to $0.19 per share.
UMH Properties, Inc. (NYSE:UMH) will host its First Quarter 2021 Financial Results Webcast and Conference Call on May 7, 2021, at 10:00 a.m. Eastern Time. The financial results will be released on May 6, 2021, after market close and will be accessible on their website. Participants can join via webcast or conference call at toll-free numbers provided. UMH owns and operates 126 manufactured home communities across several states, offering approximately 23,800 homesites.
UMH Properties has declared a quarterly cash dividend of $0.19 per share, payable on June 15, 2021. Shareholders must be on record by May 17, 2021. This indicates an annual dividend rate of $0.76 per share. Additionally, the Board has announced dividends for its Series C and Series D Cumulative Redeemable Preferred Stocks: $0.421875 and $0.3984375 per share, respectively, also payable on June 15, 2021.
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.