UMH PROPERTIES, INC. Q3 2024 OPERATIONS UPDATE
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), a REIT specializing in manufactured home communities, has released its Q3 2024 operations update. Key highlights include:
- Equity market capitalization exceeded $1.5 billion
- Converted 179 new homes to revenue-generating units
- Owns ~10,300 rental homes with 94.4% occupancy
- Sold 100 homes, including 32 new home sales
- Gross home sales revenue increased 10% to $8.7 million
- Year-to-date overall occupancy increased by 235 units to 87%
- September 2024 rental and related charges increased by ~8%
- Annualized monthly rent roll generating $206 million
- Issued 5.7 million shares through ATM program, raising $108.4 million
The company expects continued organic growth and increased demand for affordable housing due to Hurricane Helene's impact.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), un REIT specializzato in comunità di case mobili, ha pubblicato l'aggiornamento operativo del terzo trimestre del 2024. I punti salienti includono:
- La capitalizzazione di mercato delle azioni ha superato 1,5 miliardi di dollari
- Convertiti 179 nuovi appartamenti in unità generatrici di reddito
- Possiede circa 10.300 case in affitto con un tasso di occupazione del 94,4%
- Venduti 100 appartamenti, di cui 32 nuove vendite
- I ricavi lordi dalle vendite di case sono aumentati del 10% a 8,7 milioni di dollari
- L'occupazione complessiva dall'inizio dell'anno è aumentata di 235 unità al 87%
- A settembre 2024, i canoni di affitto e le spese correlate sono aumentati di circa l'8%
- L'affitto mensile annualizzato genera 206 milioni di dollari
- Emesse 5,7 milioni di azioni attraverso il programma ATM, raccogliendo 108,4 milioni di dollari
La società prevede una continua crescita organica e un aumento della domanda di alloggi a prezzi accessibili a causa dell'impatto dell'uragano Helene.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), un REIT especializado en comunidades de casas prefabricadas, ha publicado su actualización de operaciones del tercer trimestre de 2024. Los puntos destacados incluyen:
- La capitalización de mercado de acciones superó 1.5 mil millones de dólares
- Convertidos 179 nuevos hogares en unidades generadoras de ingresos
- Posee aproximadamente 10,300 casas de alquiler con un 94.4% de ocupación
- Vendidos 100 hogares, de los cuales 32 fueron ventas de nuevas casas
- Los ingresos brutos por ventas de casas aumentaron un 10% a 8.7 millones de dólares
- La ocupación general acumulada hasta la fecha aumentó en 235 unidades al 87%
- En septiembre de 2024, los alquileres y tarifas relacionadas aumentaron en aproximadamente un 8%
- El alquiler mensual anualizado genera 206 millones de dólares
- Emitió 5.7 millones de acciones a través del programa ATM, recaudando 108.4 millones de dólares
La empresa espera un crecimiento orgánico continuo y un aumento en la demanda de vivienda asequible debido al impacto del huracán Helene.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH)은 조립식 주택 커뮤니티 전문 REIT로서 2024년 3분기 운영 업데이트를 발표했습니다. 주요 하이라이트는 다음과 같습니다:
- 주식 시장 가치가 15억 달러를 초과했습니다.
- 179개의 신규 주택을 수익 창출 유닛으로 전환했습니다.
- 약 10,300개의 임대 주택을 보유하고 있으며, 94.4%의 점유율을 기록하고 있습니다.
- 100채의 주택을 판매했으며, 이 중 32채는 신규 주택 판매입니다.
- 주택 판매 수익이 10% 증가하여 870만 달러가 되었습니다.
- 올해 들어 전체 점유율이 235개 유닛 증가하여 87%에 도달했습니다.
- 2024년 9월에 임대료 및 관련 요금이 약 8% 증가했습니다.
- 연간화된 월세 수익이 2억 6백만 달러를 발생시키고 있습니다.
- ATM 프로그램을 통해 570만 주식을 발행하여 1억 840만 달러를 조달했습니다.
회사는 헬렌 허리케인의 영향으로 인해 지속적인 유기적 성장과 저렴한 주택에 대한 수요 증가를 예상하고 있습니다.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), un REIT spécialisé dans les communautés de maisons manufacturées, a publié sa mise à jour opérationnelle pour le troisième trimestre 2024. Les points clés incluent :
- La capitalisation boursière a dépassé 1,5 milliard de dollars
- 179 nouvelles maisons ont été converties en unités génératrices de revenus
- Possède environ 10 300 maisons locatives avec un taux d'occupation de 94,4%
- Vendu 100 maisons, dont 32 ventes de nouvelles maisons
- Les recettes brutes des ventes de maisons ont augmenté de 10% pour atteindre 8,7 millions de dollars
- Le taux d'occupation global a augmenté de 235 unités à 87% depuis le début de l'année
- En septembre 2024, les loyers et frais connexes ont augmenté d'environ 8%
- Le loyer mensuel annualisé génère 206 millions de dollars
- Émis 5,7 millions d'actions par le biais d'un programme ATM, levant 108,4 millions de dollars
L'entreprise s'attend à une croissance organique continue et à une demande accrue de logements abordables en raison de l'impact de l'ouragan Helene.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), ein REIT, der auf mobile Wohnanlagen spezialisiert ist, hat sein Betriebsupdate für das 3. Quartal 2024 veröffentlicht. Die wichtigsten Highlights sind:
- Die Marktkapitalisierung überstieg 1,5 Milliarden Dollar
- 179 neue Häuser in Einnahmeneinheiten umgewandelt
- Eigentümer von ca. 10.300 Mietwohnungen mit einer 94,4%igen Belegung
- 100 Häuser verkauft, darunter 32 Neuverkäufe
- Der Bruttoverkaufsumsatz für Häuser stieg um 10% auf 8,7 Millionen Dollar
- Die Gesamtbelegung stieg bis heute um 235 Einheiten auf 87%
- Im September 2024 stiegen die Mieten und verwandte Gebühren um ca. 8%
- Der annualisierte monatliche Mieterlös beträgt 206 Millionen Dollar
- 5,7 Millionen Aktien wurden im Rahmen des ATM-Programms ausgegeben, was 108,4 Millionen Dollar einbrachte.
Das Unternehmen erwartet weiterhin organisches Wachstum und eine steigende Nachfrage nach erschwinglichem Wohnraum aufgrund der Auswirkungen des Hurrikans Helene.
- Equity market capitalization exceeded $1.5 billion
- Rental home occupancy rate of 94.4%
- Gross home sales revenue increased 10% to $8.7 million
- Overall occupancy increased to 87%
- Rental and related charges increased by 8%
- Annualized monthly rent roll generating $206 million
- Raised $108.4 million through ATM program
- Potential shareholder dilution due to issuance of 5.7 million new shares
Insights
UMH Properties' Q3 2024 update reveals solid performance and strategic growth. Key highlights include:
- Equity market cap surpassing
$1.5 billion 10% increase in gross home sales revenue to$8.7 million - Overall occupancy up by 235 units YTD to
87% 8% increase in rental and related charges, with annualized monthly rent roll at$206 million - Successful ATM offering raising
$108.4 million at$18.93 per share
The company's focus on affordable housing positions it well in the current market, especially following Hurricane Helene. The capital raise strengthens UMH's balance sheet, allowing for continued investment in rental homes, expansions and potential acquisitions. The
UMH's Q3 update showcases the resilience and growth potential of the manufactured home REIT sector. The company's strategic expansion of its rental portfolio, with 179 new homes converted to revenue-generating assets, demonstrates a savvy approach to market demand. The
The
The
FREEHOLD, NJ, Oct. 03, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), a real estate investment trust (REIT) specializing in the ownership and operation of manufactured home communities, is providing investors with an update on our third quarter 2024 operating results:
- As of quarter end, UMH achieved an equity market capitalization of over
$1.5 billion . - During the third quarter, UMH converted 179 new homes from inventory to revenue generating homes. UMH now owns approximately 10,300 rental homes with an occupancy rate of
94.4% . - During the third quarter, UMH sold 100 homes of which 32 were new home sales. Gross home sales revenue for the third quarter was
$8.7 million as compared to$7.9 million last year, representing an increase of approximately10% . - Year to date, overall occupancy increased by 235 units to
87% . During the third quarter, overall occupancy increased by 39 units. Year over year, overall occupancy increased by 271 units. - Our occupancy gains and rent increases achieved throughout 2023 and 2024 have increased our September 2024 rental and related charges by approximately
8% , resulting in our annualized monthly rent roll generating$206 million . - We issued and sold approximately 5.7 million shares of Common Stock through our At-the-Market Sale program at a weighted average price of
$18.93 per share, generating gross proceeds of$108.4 million .
Samuel A. Landy, President and CEO of UMH Properties, Inc., stated “UMH’s operating results continue to meet our expectations. Our communities are experiencing strong demand for sales and rental homes as demonstrated by our increased occupancy rates and our
“We opportunistically raised approximately
“We have positioned the company with a strong balance sheet so that we can continue to invest in our communities and be prepared to acquire new communities when accretive investment opportunities become available.”
It should be noted that the financial information set forth above reflects our preliminary estimates with respect to such information, based on information currently available to management, and may vary from our actual financial results as of and for the quarter ending September 30, 2024. UMH’s full Third Quarter 2024 results will be released on Wednesday, November 6, 2024, after the close of trading on the New York Stock Exchange and will be available on the Company’s website at www.umh.reit, in the Financials section. Senior management will discuss the results, current market conditions and future outlook on Thursday, November 7, 2024, at 10:00 a.m. Eastern Time.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 136 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia. UMH also has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate.
Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company’s current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company’s annual report on Form 10-K and described from time to time in the Company’s other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Contact: Nelli Madden
732-577-4062
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