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. declared a quarterly cash dividend of $0.18 per share on its Common Stock, payable on December 15, 2020, with a record date of November 16, 2020. The annual dividend rate for the Common Stock stands at $0.72 per share.
Additionally, a quarterly dividend of $0.421875 per share was declared for the 6.75% Series C Preferred Stock and $0.3984375 per share for the 6.375% Series D Preferred Stock, both payable on December 15, 2020, also with a record date of November 16, 2020.
UMH Properties has announced the promotion of Nelli Madden to Vice President of Investor Relations, effective October 1, 2020. Nelli has been with the company for over eight years, serving as the Director of Investor Relations for the past five years. Samuel A. Landy, President and CEO, praised her performance in building relationships with shareholders, analysts, and investment bankers. The company operates 124 manufactured home communities across several states, managing approximately 23,400 homesites and a portfolio of REIT securities.
UMH Properties, Inc. (NYSE:UMH) will host a Third Quarter 2020 Financial Results Webcast and Conference Call on November 5, 2020, at 10:00 a.m. ET. The company plans to release its Q3 results on November 4, 2020, after market close, available on their website. UMH operates 124 manufactured home communities across multiple states, with approximately 23,400 homesites. The call can be accessed domestically at 877-513-1898 or internationally at 412-902-4147. A replay will be available from 12:00 p.m. ET on November 5 until February 1, 2021.
UMH Properties, Inc. (NYSE: UMH) has successfully acquired a manufactured housing community in New York for approximately $4.5 million. The community consists of 163 homesites, with 71% occupancy, spanning around 21 acres. President and CEO Samuel A. Landy highlights the community's strategic location near Interstate 90, expecting strong rental demand and potential for value enhancement.
UMH Properties, Inc. (NYSE:UMH) will ring the NYSE Opening Bell on August 25, 2020, celebrating the closing of a new credit facility with Fannie Mae and Wells Fargo. This initiative aligns with the company's mission to provide quality affordable housing through its 123 manufactured home communities. Samuel A. Landy, President and CEO, emphasized the collaboration with these financial institutions as a commitment to enhancing affordable housing access.
UMH Properties, Inc. (NYSE: UMH) announced the successful financing of 28 unencumbered communities, totaling approximately 4,100 sites, with Wells Fargo Bank for about $106 million. This Fannie Mae credit facility has a 10-year maturity and a fixed interest rate of 2.62%. The funds will be used to redeem 8% Series B Perpetual Preferred Stock and to enhance investments in additional acquisitions and rental homes. CEO Samuel A. Landy highlighted the significance of this financing in improving funds from operations by over $5 million annually.
UMH Properties, Inc. (NYSE:UMH) reported a significant increase in Total Income for Q2 2020, rising to $40.1 million from $37.2 million in Q2 2019, an 8% growth. Net Income Attributable to Common Shareholders was $10.2 million or $0.25 per diluted share, reversing a net loss of $5.5 million in the same period last year. The increase was primarily due to an unrealized gain of $13.4 million in their marketable securities. Funds from Operations also improved, with FFO reaching $7.1 million ($0.17 per diluted share), up from $5.7 million in Q2 2019.
UMH Properties has successfully closed the acquisition of a community in Pennsylvania for approximately $3.34 million. This community consists of 147 developed homesites, with an occupancy rate of about 56% and spans 27 acres. CEO Samuel A. Landy stated that Camelot Woods is a value-add community, and they plan to implement a rental program to enhance occupancy and generate substantial value. UMH continues to see strong rental demand across its portfolio, with collection rates returning to pre-pandemic levels.
UMH Properties, Inc. (NYSE: UMH) announced on July 1, 2020, the declaration of its quarterly cash dividend of $0.18 per share, payable on September 15, 2020, to shareholders of record by August 17, 2020. The annual dividend rate is set at $0.72 per share. Additionally, the Company declared dividends for its preferred stocks: $0.50 for Series B, $0.421875 for Series C, and $0.3984375 for Series D, all payable on the same date. UMH operates 122 manufactured home communities across multiple states.
UMH Properties, Inc. (NYSE:UMH) will host its Second Quarter 2020 Financial Results Webcast on August 6, 2020, at 10:00 a.m. ET. The financial results will be released on August 5, 2020, after market close. UMH operates 122 manufactured home communities across various states, owning approximately 23,100 developed homesites and a portfolio of REIT securities. This event will discuss performance metrics, current market conditions, and future outlook. Interested parties can join via webcast or conference call.
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