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 has announced the redemption of all 9,884,000 shares of its 6.75% Series C Cumulative Redeemable Preferred Stock on July 26, 2022. The shares will be redeemed at a total price of $25.2578 per share, which includes accrued dividends. Following the redemption, trading of these shares under the symbol UMH.PRC will cease on the NYSE. Holders of the preferred stock will receive payment upon surrendering their certificates to the redemption agent.
UMH Properties, a public equity REIT, announced participation in Nareit’s REITweek: 2022 Investor Conference on June 8, 2022, at 9:30 a.m. ET. Key executives, including Samuel A. Landy and Anna T. Chew, will present at the event in New York City.
The presentation will be accessible via a live webcast on the company’s website, along with replay options and presentation materials for 30 days post-event. UMH operates 130 manufactured home communities across various states, totaling around 24,400 homesites.
UMH Properties, Inc. has successfully acquired a manufactured home community in Dothan, Alabama for approximately $3.9 million. The community comprises 139 homesites, with about 6% currently occupied, situated on 36 acres. President Samuel A. Landy emphasized the strategic location, just two miles from an existing property, and highlighted the potential for growth through a value-added business plan. The acquisition presents opportunities for profitability and appreciation due to strong rental demand and below replacement cost purchases.
UMH Properties, Inc. (NYSE:UMH) reported a Total Income of $45.9 million for Q1 2022, marking a 6% increase from $43.1 million in Q1 2021. However, the company faced a Net Loss of $4.3 million or $0.09 per diluted share, in contrast to a Net Income of $6.8 million or $0.16 per diluted share in the previous year. Funds from Operations (FFO) were slightly up at $8.5 million ($0.16 per share) compared to $8.4 million ($0.19 per share) a year earlier. Notably, the company raised its quarterly dividend by 5.3% to $0.20 per share, signaling confidence despite losses.
UMH Properties, Inc. (NYSE: UMH) has successfully acquired a manufactured home community in Butler, Pennsylvania for $7.4 million. The community features 132 developed homesites on approximately 65 acres, with 38 entitled sites for future development. The acquisition is strategically located near UMH's top-performing assets in western Pennsylvania, which is expected to drive demand and profitability. UMH is also pursuing two additional communities totaling 490 sites for approximately $25.9 million, indicating ongoing growth.
UMH Properties, Inc. (NYSE: UMH) has been recognized with two prestigious awards from the Manufactured Housing Institute for 2022. On April 11, UMH was named Community Operator of the Year for the second consecutive year. Additionally, on April 12, it received the Retail Sales Center of the Year Award, awarded to its Port Royal Sales Center in Pennsylvania. President Samuel A. Landy expressed pride in these achievements, attributing success to the dedicated efforts of the company's staff and ongoing initiatives to enhance affordable housing access.
UMH Properties (NYSE:UMH) will host a First Quarter 2022 Financial Results Webcast on May 5, 2022, at 10:00 a.m. ET. The results will be released on May 4, 2022, after market close, and available on their website. Participants can join via a conference call or the webcast icon on the homepage. UMH Properties operates 128 manufactured home communities across several states, comprising approximately 24,100 homesites, also managing a community in Florida. A replay of the call will be available post-event.
UMH Properties, Inc. (NYSE:UMH) declared a quarterly cash dividend of $0.20 per share on its Common Stock, payable on June 15, 2022, to shareholders on record by May 16, 2022. The annual dividend rate stands at $0.80 per share. Furthermore, the Board announced dividends for its Series C and Series D Cumulative Redeemable Preferred Stocks, amounting to $0.421875 and $0.3984375 per share, respectively, also payable on June 15, 2022. UMH operates 128 manufactured home communities with around 24,100 homesites across multiple states.
UMH Properties, Inc. (NYSE: UMH) has successfully acquired a manufactured home community in Monaca, Pennsylvania for $5.8 million. This community comprises 96 developed homesites and spans approximately 18 acres. CEO Samuel A. Landy expressed enthusiasm for the acquisition, highlighting its strategic location near existing high-occupancy communities. UMH aims to upgrade the facility to enhance income and value. The company manages 128 communities across various states, totaling around 24,100 homesites, and continues to pursue growth through additional acquisitions.
UMH Properties (NYSE: UMH) has received a Second-Party Opinion on its March 2022 Sustainable Bond Framework from Sustainalytics. This framework highlights UMH's commitment to providing affordable housing for low-income earners, achieving rents that do not exceed 30% of gross income for those making 50-80% of the area median income. The company's efforts in water conservation and energy efficiency, such as using LED lights and smart thermostats, have also been favorably reviewed. UMH operates 127 manufactured home communities across eleven states.
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