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. has successfully closed the acquisition of a 30-acre parcel in Perrysburg, Ohio, for $2.3 million. This site is entitled for the development of 115 manufactured home sites and is strategically adjacent to its existing Meadows of Perrysburg community, which boasts a high occupancy rate of 95% and site rents averaging $500 per month. The purchase aligns with UMH’s long-term growth strategy, aimed at developing vacant land, enhancing operations, and expanding their sales and finance operations.
Currently, UMH operates 135 manufactured home communities across several states, with approximately 25,700 homesites in total. This acquisition is anticipated to strengthen UMH's market position and operational results.
UMH Properties, Inc. (NYSE:UMH) announced strong first-quarter 2023 results, with sales reaching approximately $7.3 million, a 70% increase from $4.3 million in Q1 2022, setting a new sales record. The portfolio saw an increase of 238 units in occupancy, with new rental units rising by 230. Rental home occupancy improved to 93.7% from 93.3% at year-end 2022. Monthly rental charges surged by approximately $550,000 as of April 1, 2023, following implemented rent increases. Final Q1 results will be disclosed on May 9, 2023, with a management discussion on May 10, 2023.
UMH Properties, Inc. has announced a quarterly cash dividend of $0.205 per share, effective June 15, 2023, to shareholders on record by May 15, 2023. The annual rate for this common stock dividend amounts to $0.82 per share. Additionally, the company declared a quarterly dividend for its Series D Preferred Stock of $0.3984375 per share, also payable on June 15, 2023, with a cumulative annual rate of $1.59375 per share. UMH manages 135 manufactured home communities comprising approximately 25,700 homesites across various states, including New Jersey and Florida.
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