Welcome to our dedicated page for UMH Properties news (Ticker: UMH), a resource for investors and traders seeking the latest updates and insights on UMH Properties stock.
UMH Properties, Inc. (symbol: UMH) is a publicly traded real estate investment trust (REIT) that has been specializing in manufactured home communities since 1968. Founded on principles of stability and long-term growth, UMH owns and operates 74 manufactured home communities across seven states in the Northeast, including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, and Michigan. These communities collectively offer approximately 13,400 home sites, providing residents with a dependable and recession-resistant living environment.
UMH Properties is multifaceted in its operations. In addition to leasing home sites to residents, they also lease manufactured homes. Through their wholly-owned subsidiary, UMH Sales and Finance, Inc., they sell and finance the purchase of manufactured homes, making homeownership more accessible. This subsidiary also facilitates home sales for placement on privately-owned land, broadening their market reach.
The company prides itself on owning not just the homes and sites, but also the accompanying infrastructure such as utility connections, streets, lighting, driveways, and common area amenities. These capital improvements enhance the quality of life for residents and contribute to stable income streams for UMH.
Operating as a public company since 1985, UMH has continually demonstrated financial resilience and growth. For prospective investors and residents alike, the company's investor relations website (ir.umh.com) offers comprehensive resources, including the latest annual reports, letters to shareholders, and SEC filings.
Those interested in purchasing a home within UMH's communities can visit the UMH Sales and Finance website at www.umhhomesales.com for more information.
UMH Properties, Inc. (NYSE:UMH) announced the release of its 2021 Annual Report, highlighting a year of exceptional results and positioning for future growth. The report is accessible on the company’s website. President Samuel A. Landy emphasized the outstanding performance of the company in 2021, encouraging stakeholders to review the report for insights into the company’s future outlook. UMH operates 127 manufactured home communities across multiple states, providing around 24,000 developed homesites.
UMH Properties (NYSE: UMH) has added approximately 1,100 homes to its Fannie Mae credit facility, securing about $25.6 million in proceeds via Wells Fargo Bank. This financing, at a fixed interest rate of 4.25%, aligns with the facility's term maturing in 2030. The funds aim to enhance acquisitions and rental housing, boosting shareholder value.
CEO Samuel A. Landy expressed confidence in the recognition of rental homes in manufactured housing communities as equivalent to apartments for financing purposes, stating this transaction will facilitate further refinancing and favorable financing for future developments.
UMH Properties, Inc. reported significant financial growth for the year ending December 31, 2021, with Total Income reaching $186.1 million, up 14% from $163.6 million in 2020. The net income attributable to common shareholders surged to $21.2 million or $0.45 per diluted share, reversing a $29.8 million loss in 2020. Funds from Operations (FFO) increased 49% year-over-year to $39.1 million. The company also improved occupancy rates and acquired new communities, indicating strategic growth. Additionally, UMH raised its dividend for two consecutive years, showcasing strong shareholder returns.
UMH Properties (NYSE:UMH) announced its common stock will be listed on the Tel Aviv Stock Exchange (TASE) starting February 9, 2022. This dual listing marks the company as the first NYSE-listed REIT to do so. UMH’s shares will continue trading on the New York Stock Exchange as well. The company aims to enhance liquidity and provide Israeli investors access to its manufactured home market. UMH holds a corporate rating of il.A+ from S&P Global Ratings Maalot Ltd.
UMH Properties has successfully completed an offering of $102.7 million in 4.72% Series A Bonds due February 2027. The bonds, issued in Israeli shekels, will fund working capital and possibly redeem the 6.75% Series C Cumulative Redeemable Preferred Stock. Interest on the bonds is payable semi-annually, with final maturity set for February 28, 2027. These general unsecured obligations rank equally with existing debts and adhere to customary covenants.
UMH Properties, Inc. (NYSE:UMH) has announced the tax treatment of its 2021 cash distributions to shareholders. For common shares, a total distribution of $0.76 per share includes various components such as Non-Qualifying Ordinary Income and Return of Capital. Preferred shares experienced distributions of $1.6875 for Series C and $1.59375 for Series D, comprising similar income categories. Shareholders are advised to consult with tax advisors regarding the tax implications of these distributions. UMH operates 127 manufactured home communities across multiple states.
UMH Properties, a real estate investment trust (REIT), will host a webcast and conference call on February 25, 2022, at 10:00 a.m. Eastern Time to discuss its Fourth Quarter and Full Year 2021 Financial Results.
The results will be released on February 24, 2022, after market close. The conference call can be accessed via phone or through the company’s website, where a replay will be available afterward. UMH operates 127 manufactured home communities across several states with approximately 24,000 homesites.
UMH Properties has announced a reduction in interest rates for qualified home buyers from 5.99% to 4.99% through its third-party lending program. This strategic move aims to enhance housing affordability, aligning with the company's mission of providing quality affordable housing. President and CEO, Samuel A. Landy, noted that this reduction reflects improved capital costs and positions UMH as a competitive player within the industry. The company operates 127 manufactured home communities across several states, serving approximately 24,000 homesites.
UMH Properties, Inc. (NYSE:UMH) announced a 5.3% increase in its quarterly dividend, raising it from $0.19 to $0.20 per share. This increase is part of the company's ongoing commitment to returning value to shareholders. The dividend is set to be paid on March 15, 2022, to shareholders recorded by February 15, 2022, marking an annual dividend rate of $0.80 per share. UMH operates 127 manufactured home communities across several states, showcasing its robust presence in the real estate market.
UMH Properties, a public equity REIT, declared quarterly dividends on January 12, 2022, for its Series C and Series D cumulative redeemable preferred stocks. The Series C dividend is set at $0.421875 per share, payable on March 15, 2022, to holders recorded by February 15, 2022. The Series D dividend amounts to $0.3984375 per share, also payable on March 15. UMH operates 127 manufactured home communities across various states, comprising around 24,000 homesites.
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