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 (NYSE:UMH) has announced it will host its First Quarter 2025 Financial Results Webcast and Conference Call on May 2, 2025, at 10:00 a.m. Eastern Time. The company's Q1 2025 results will be released on May 1, 2025, after NYSE trading closes.
The REIT, established in 1968, specializes in manufactured home communities and currently owns and operates 139 communities with approximately 26,300 developed homesites. Of these, 10,300 sites contain rental homes. The company also manages over 1,000 self-storage units. The communities span across multiple states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia. Two communities in Florida, comprising 363 sites, are operated through a joint venture with Nuveen Real Estate.
UMH Properties (NYSE:UMH) reported strong financial results for Q4 and full-year 2024. Total Income increased 9% to $240.6 million for 2024, compared to $220.9 million in 2023. The company achieved Net Income of $2.5 million ($0.03 per diluted share) in 2024, improving from a loss of $8.7 million in 2023.
Key highlights include:
- Normalized FFO increased 27% to $69.5 million ($0.93 per diluted share)
- Same Property NOI grew 10%
- Same Property Occupancy improved to 87.8%
- Sales of Manufactured Homes increased 8%
The company expanded its credit facility by $80 million to $260 million and raised its quarterly dividend by 4.9% to $0.215 per share. UMH issued guidance for 2025, projecting Normalized FFO between $0.96-$1.04 per diluted share, representing 7.5% growth at the midpoint.
UMH Properties has released its tax treatment details for 2024 distributions. For common shares, the total distribution was $0.850 per share, comprising 19.63% non-qualifying ordinary income ($0.166853) and 80.37% return of capital ($0.683147). The 6.375% Series D Preferred shares received total distributions of $1.59375 per share, classified as 100% non-qualifying ordinary income.
The company also disclosed dividend reinvestment plan discounts throughout 2024, with discount values ranging from $0.510 to $0.965 per share. UMH operates 139 manufactured home communities with approximately 26,200 developed homesites, including 10,300 rental homes and over 1,000 self-storage units across multiple states.
UMH Properties (NYSE:UMH) has announced it will host its Fourth Quarter and Full Year 2024 Financial Results Webcast and Conference Call on February 27, 2025, at 10:00 a.m. Eastern Time. The company will release its results on February 26, 2025, after NYSE trading closes.
UMH Properties is a REIT specializing in manufactured home communities. The company owns and operates 139 manufactured home communities with approximately 26,200 developed homesites, including 10,300 rental homes and over 1,000 self-storage units. These communities span across 12 states, with two Florida communities (363 sites) operated through a joint venture with Nuveen Real Estate.
UMH Properties (NYSE:UMH) announced on January 7, 2025, that its Board of Directors has declared quarterly dividends for both common and preferred stockholders. The company will pay a quarterly cash dividend of $0.215 per share on its Common Stock, maintaining an annual dividend rate of $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. Both dividends will be payable on March 17, 2025, to shareholders of record as of February 18, 2025.
UMH Properties, established in 1968, operates 139 manufactured home communities with approximately 26,200 developed homesites, including 10,300 rental homes and over 1,000 self-storage units across 12 states. Two communities in Florida, comprising 363 sites, are operated through a joint venture with Nuveen Real Estate.
UMH Properties reported strong performance for Q4 and full-year 2024, achieving an equity market capitalization over $1.5 billion. The company's share price increased 24% from $15.25 to $18.88, delivering a total shareholder return of 30% including $0.85 in dividends.
Key operational highlights include: conversion of 565 new homes to rental units in 2024 (122 in Q4), reaching approximately 10,300 rental homes with 94% occupancy; gross home sales revenue increased 9% to $8.4 million in Q4 and 4% to $32.6 million for the full year; overall occupancy increased by 280 units to 88% in 2024.
The company raised significant capital through its ATM program, selling 12.5 million shares at an average price of $17.92, generating $224.5 million. January 2025 rental and related charges increased by 9%, projecting approximately $210 million in annual rental revenue.
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.