Umh Pptys Inc Stock Price, News & Analysis

UMH Properties reported strong Q3 2024 financial results with Total Income of $60.7 million, up 8% year-over-year. Net Income improved to $8.2 million ($0.11 per diluted share) compared to a loss of $5.8 million in Q3 2023. Normalized FFO reached $18.5 million ($0.24 per diluted share), a 9% increase per share. Key operational highlights include 8% growth in rental income, 10% increase in manufactured home sales, and 7% growth in Community NOI. The company raised significant capital through ATM programs, selling common and preferred stock, and updated its 2024 normalized FFO guidance to $0.92-$0.94 per diluted share.

UMH Properties announced the acquisition of a 246-unit self-storage facility in Anderson, Indiana, bringing its total self-storage portfolio to over 1,000 units. The newly acquired facility is located adjacent to one of UMH's existing communities. The company operates 139 manufactured home communities with approximately 26,200 developed homesites, including 10,300 rental homes. These communities span across 12 states, with two Florida communities (363 sites) operated through a joint venture with Nuveen Real Estate.

UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), a REIT specializing in manufactured home communities, has released its Q3 2024 operations update. Key highlights include:

- Equity market capitalization exceeded $1.5 billion
- Converted 179 new homes to revenue-generating units
- Owns ~10,300 rental homes with 94.4% occupancy
- Sold 100 homes, including 32 new home sales
- Gross home sales revenue increased 10% to $8.7 million
- Year-to-date overall occupancy increased by 235 units to 87%
- September 2024 rental and related charges increased by ~8%
- Annualized monthly rent roll generating $206 million
- Issued 5.7 million shares through ATM program, raising $108.4 million

The company expects continued organic growth and increased demand for affordable housing due to Hurricane Helene's impact.

UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) has reported on the impact of Hurricane Helene on its manufactured housing communities portfolio. The company experienced minor damage to communities in Florida, Alabama, South Carolina, Georgia, Tennessee, and Ohio, primarily due to high winds and heavy rain. President and CEO Samuel A. Landy emphasized that the damage demonstrates the quality and durability of their homes.

All residents and employees are safe, and UMH is taking measures to clean up and repair any marginal damages. The company does not expect the storm's effects to have a material impact on operations or financial results. UMH Properties owns and operates 136 manufactured home communities with approximately 25,800 developed homesites across 11 states, plus an ownership interest in two Florida communities through a joint venture with Nuveen Real Estate.

UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) has announced its upcoming presentation to the Philadelphia Securities Association (PSA) on October 9, 2024. The event will take place at the Union League of Philadelphia, with Samuel A. Landy, President and CEO, presenting an overview of the company followed by a Q&A session. The luncheon meeting is scheduled to begin at 11:30 a.m. Eastern Time.

UMH Properties, founded in 1968, is a public equity REIT specializing in manufactured home communities. The company owns and operates 136 communities with approximately 25,800 developed homesites across multiple states. Additionally, UMH has a joint venture with Nuveen Real Estate, operating two communities in Florida with 363 sites.

UMH Properties, a public equity REIT, has announced its quarterly dividend declarations. The Board of Directors declared a quarterly cash dividend of $0.215 per share on the Company's Common Stock, payable on December 16, 2024, to shareholders of record as of November 15, 2024. This sets the annual dividend rate at $0.86 per share.

Additionally, a quarterly dividend of $0.3984375 per share was declared on the Company's 6.375% Series D Cumulative Redeemable Preferred Stock for the period from September 1, 2024, through November 30, 2024, also payable on December 16, 2024, to shareholders of record as of November 15, 2024. The Series D preferred share dividends are cumulative and payable quarterly at an annual rate of $1.59375 per share.

UMH Properties, established in 1968, currently owns and operates 136 manufactured home communities with approximately 25,800 developed homesites across multiple states. The company also has a joint venture interest in two Florida communities.

UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust specializing in manufactured home communities, has announced its upcoming Third Quarter 2024 Financial Results Webcast and Conference Call. The event is scheduled for Thursday, November 7, 2024, at 10:00 a.m. Eastern Time, where senior management will discuss results, current market conditions, and future outlook.

The company's Q3 2024 results will be released on Wednesday, November 6, 2024, after the close of trading on the New York Stock Exchange. Interested parties can participate via webcast on the company's website or by calling the provided toll-free numbers. A replay of the conference call will be available from 12:00 p.m. Eastern Time on November 7, 2024.

UMH Properties, founded in 1968, currently owns and operates 136 manufactured home communities with approximately 25,800 developed homesites across multiple states. Additionally, the company has an ownership interest in two communities in Florida through a joint venture with Nuveen Real Estate.

UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) announced that Samuel A. Landy, President and CEO, was inducted into the RV/MH Hall of Fame on August 19, 2024. Under Landy's leadership since 1995, UMH has grown from 22 communities with 4,200 homesites to 136 communities with 25,800 homesites. His strategy focused on acquiring and improving value-add communities, expanding existing ones, and developing new sites. UMH Sales and Finance, Inc. has sold over 5,700 manufactured homes and financed over $100 million in consumer loans. The company now manages 10,200 rental homes. Eugene W. Landy, Founder and Chairman, praised Sam's contributions to affordable housing and industry leadership.

UMH Properties, Inc. (NYSE: UMH) has announced the promotion of T.C. Sheppard to Senior Vice President of Sales and Consumer Finance. Under Sheppard's leadership since 2020, UMH has seen significant growth in key areas:

• Sales increased by 54% from $20.3 million in 2020 to $31.2 million in 2023
• Notes receivable portfolio grew by 88% from $44.3 million at the end of 2020 to $83.3 million in Q2 2024

UMH, a public equity REIT founded in 1968, owns and operates 136 manufactured home communities with approximately 25,800 developed homesites across 11 states. The company also has a joint venture with Nuveen Real Estate, operating two communities in Florida with 363 sites.