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.
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UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) declared a quarterly cash dividend of $0.205 per share for its Common Stock, with an annual dividend rate of $0.82 per share. Additionally, a quarterly dividend of $0.3984375 per share was declared for the Company’s 6.375% Series D Cumulative Redeemable Preferred Stock, with an annual rate of $1.59375 per share. UMH Properties, Inc. is a public equity REIT that owns and operates 135 manufactured home communities in multiple states and has an ownership interest in two communities in Florida through a joint venture with Nuveen Real Estate.
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UMH Properties, Inc. (UMH) achieved an equity market capitalization of over $1 billion by year end 2023. The company rented 1,040 new homes and sold 164 new homes during the year, resulting in a 22.9% increase in home sales revenue. Occupancy rate increased to 94.0% with an overall 86.7% occupancy and a 12.0% increase in January 2024 rental and related charges. UMH's Fourth Quarter and Full Year 2023 results will be released on Wednesday, February 28, 2024.
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UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) will celebrate its 55th Anniversary by ringing the Opening Bell at the New York Stock Exchange (NYSE) on January 10, 2024. At yearend 2023, UMH had 68 million shares outstanding at a price of $15.32 per share, resulting in an equity market capitalization of over $1 billion. UMH is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites across multiple states. The company also has an ownership interest in and operates two communities in Florida through a joint venture with Nuveen Real Estate.
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UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) completed the addition of eight communities, containing 1,281 sites, to its Fannie Mae credit facility through Wells Fargo Bank, N.A., for total proceeds of approximately $57.7 million. It is a fixed rate, interest only loan at 5.97% with a 10-year term. The proceeds will be used to invest in additional acquisitions, expansions, rental homes and repay higher interest rate debt on a short-term basis. Samuel A. Landy, President and Chief Executive Officer, commented on the successful loan completion and the company's long-term value-added business plan. UMH Properties, Inc. is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites across multiple states.
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UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) expands partnership with Nuveen Real Estate, entering a new joint venture to develop a manufactured housing community in Honey Brook, Pennsylvania. UMH will have a 40% stake in the venture, managing member, developer, and operating member. The community will contain 113 manufactured home sites on approximately 61 acres, with construction expected to take 15 months. The joint venture aims to combat the housing crisis and strengthen UMH's financial capacity while limiting the short-term impact on FFO during construction and lease-up.
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UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) has added George Kline, a former NYPD officer with extensive experience in security, to their team. With over 135 manufactured home communities and approximately 25,800 developed homesites, UMH Properties, Inc. is a public equity REIT with a strong presence in multiple states and a joint venture in Florida.
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UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) reported a 7.9% increase in Total Income for the quarter ended September 30, 2023, compared to the same period in 2022. Net Loss Attributable to Common Shareholders decreased from $9.7 million to $5.8 million. Normalized FFO increased sequentially by 4.8% to $14.4 million. President and CEO Samuel A. Landy commented on the positive results, highlighting increased Rental and Related Income, Community NOI, and Same Property NOI. The company also issued and sold additional shares through its At-the-Market Sale Program, expanding its revolving line of credit, and reporting an increase in sales of manufactured homes.
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UMH Properties, Inc. to present at Philadelphia Securities Association on October 11, 2023
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UMH Properties, Inc. provides an update on Q3 2023 operating results, including 900 new rental homes and 124 new home sales. Monthly rental revenue increased 9.7% year-to-date. Home sales revenue increased by 15%. Pending home sales worth $3.5 million expected to close in Q4. UMH revenue annualizes over $194 million. CEO expects to place 1,000 families in new rental homes in 2023. Planning to install and rent 700-1,000 new homes next year.
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UMH Properties, Inc. declares quarterly cash dividend on Common Stock of $0.205 per share and quarterly dividend of $0.3984375 per share for Series D Cumulative Redeemable Preferred Stock.
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FAQ
What is the current stock price of UMH Properties (UMH)?
The current stock price of UMH Properties (UMH) is $18.01 as of January 29, 2025.
What is the market cap of UMH Properties (UMH)?
The market cap of UMH Properties (UMH) is approximately 1.4B.
What does UMH Properties, Inc. specialize in?
UMH Properties, Inc. specializes in owning and operating manufactured home communities, offering leasing and sales of manufactured homes.
How many communities does UMH Properties operate?
UMH Properties operates 74 manufactured home communities across seven northeastern states.
Which states are home to UMH Properties' communities?
UMH Properties' communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, and Michigan.
What is UMH Sales and Finance?
UMH Sales and Finance is a wholly-owned subsidiary of UMH Properties that sells and finances the purchase of manufactured homes.
How long has UMH Properties been in business?
UMH Properties has been in business since 1968 and has been a publicly traded company since 1985.
Where can I find financial reports and SEC filings for UMH Properties?
Financial reports and SEC filings can be found on the UMH Properties investor relations website at ir.umh.com.
What kind of infrastructure does UMH Properties own within its communities?
UMH Properties owns the land, utility connections, streets, lighting, driveways, common area amenities, and other capital improvements within its communities.
Can I purchase a home in one of UMH's communities?
Yes, homes can be purchased through UMH Sales and Finance by visiting www.umhhomesales.com.
What are the benefits of living in a UMH Properties community?
UMH Properties communities offer long-term appreciation, recession-resistant qualities, and stable income streams, providing a reliable and high-quality living environment.
How does UMH Properties generate income?
UMH Properties generates income through lease agreements for home sites and homes, as well as through the sale and financing of manufactured homes.
UMH Properties, Inc.
NYSE:UMH
UMH Rankings
UMH Stock Data
1.43B
73.80M
6.27%
78.01%
2.28%
REIT - Residential
Real Estate Investment Trusts
United States of America
FREEHOLD