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, a REIT specializing in manufactured home communities, reported its Q2 2024 operating results. The company converted 144 new homes to rental properties, achieving a 95% occupancy rate. It sold 105 homes, generating $8.8 million in gross sales revenue, a 7% increase from last year. Year-to-date overall occupancy increased by 196 units, reaching 87%. The collection rate stood at 98% for Q2. The company’s rental income and related charges rose by 10%, resulting in an annualized monthly rent roll of $207 million. UMH's strong balance sheet supports continued investments and potential acquisitions.
On July 1, 2024, UMH Properties declared a quarterly cash dividend of $0.215 per share on its Common Stock, payable on September 16, 2024, to shareholders of record by August 15, 2024. This brings the annual dividend rate to $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 June 1, 2024, to August 31, 2024. This preferred dividend is also payable on September 16, 2024. UMH Properties operates 136 manufactured home communities across eleven states and has an ownership interest in two Florida communities through a joint venture with Nuveen Real Estate.
UMH Properties, a REIT specializing in manufactured home communities, will host its Second Quarter 2024 Financial Results Webcast and Conference Call on August 7, 2024, at 10:00 a.m. ET. The results will be released on August 6, 2024, post-market close, and available on their website. Senior management will discuss financial results, market conditions, and future outlook. UMH, established in 1968, owns and operates 136 communities with 25,800 homesites across multiple states and has interests in two Florida communities through a joint venture with Nuveen Real Estate.
UMH Properties (NYSE:UMH, TASE:UMH) announced participation in the Department of Housing and Urban Development's annual Innovative Housing Showcase, starting June 7, 2024, in Washington, DC. UMH will present two duplex models: the 'UMH Tiny' made by Cavco Industries, and a larger 28’ by 70’ unit developed with Skyline Champion The models feature renewable energy adaptations like solar shingles. UMH aims to offer affordable, quality housing that caters to various living arrangements, enhancing urban density. The company operates 136 manufactured home communities across several U.S. states, with a joint venture in Florida.
UMH Properties (NYSE:UMH) (TASE:UMH) will participate in Nareit’s REITweek: 2024 Investor Conference in New York City. The event is scheduled for June 4, 2024, at 10:15 a.m. Eastern Time, with a webcast available on the company's website. UMH, a public REIT established in 1968, owns and operates 136 manufactured home communities with approximately 25,800 homesites across multiple states. Additionally, UMH holds an interest in two Florida communities through a joint venture with Nuveen Real Estate.
UMH Properties, Inc. reported a 10% increase in Total Income for Q1 2024 compared to the same period in 2023. Net Loss Attributable to Common Shareholders was $6.3 million. Funds from Operations increased by 11%, and Normalized Funds from Operations rose by 10% per diluted share. The company also saw improvements in Rental and Related Income, Community Net Operating Income, and Same Property Community NOI. UMH raised its quarterly common stock dividend and expanded its unsecured credit facility. Overall, the company is optimistic about future growth and continues to focus on creating long-term value for shareholders.
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