UMH PROPERTIES, INC. REPORTS ON THE IMPACT OF HURRICANE HELENE
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) has reported on the impact of Hurricane Helene on its manufactured housing communities portfolio. The company experienced minor damage to communities in Florida, Alabama, South Carolina, Georgia, Tennessee, and Ohio, primarily due to high winds and heavy rain. President and CEO Samuel A. Landy emphasized that the damage demonstrates the quality and durability of their homes.
All residents and employees are safe, and UMH is taking measures to clean up and repair any marginal damages. The company does not expect the storm's effects to have a material impact on operations or financial results. UMH Properties owns and operates 136 manufactured home communities with approximately 25,800 developed homesites across 11 states, plus an ownership interest in two Florida communities through a joint venture with Nuveen Real Estate.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) ha riportato l'impatto dell'Uragano Helene sul suo portafoglio di comunità abitative prefabbricate. L'azienda ha subito danni minori alle comunità in Florida, Alabama, Carolina del Sud, Georgia, Tennessee e Ohio, principalmente a causa di venti forti e piogge intense. Il presidente e CEO Samuel A. Landy ha sottolineato che i danni dimostrano la qualità e la durabilità delle loro abitazioni.
Tutti i residenti e i dipendenti sono al sicuro, e UMH sta prendendo misure per ripulire e riparare eventuali danni marginali. L'azienda non si aspetta che gli effetti della tempesta abbiano un impatto materiale sulle operazioni o sui risultati finanziari. UMH Properties possiede e gestisce 136 comunità di case prefabbricate con circa 25.800 siti sviluppati in 11 stati, oltre a un interesse di partecipazione in due comunità in Florida attraverso una joint venture con Nuveen Real Estate.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) ha informado sobre el impacto del Huracán Helene en su cartera de comunidades de viviendas prefabricadas. La empresa experimentó daños menores en comunidades de Florida, Alabama, Carolina del Sur, Georgia, Tennessee y Ohio, principalmente debido a vientos fuertes y fuertes lluvias. El presidente y CEO Samuel A. Landy enfatizó que los daños demuestran la calidad y durabilidad de sus hogares.
Todos los residentes y empleados están a salvo, y UMH está tomando medidas para limpiar y reparar los daños marginales. La empresa no espera que los efectos de la tormenta tengan un impacto material en las operaciones o los resultados financieros. UMH Properties posee y opera 136 comunidades de casas prefabricadas con aproximadamente 25,800 sitios desarrollados en 11 estados, además de un interés de propiedad en dos comunidades de Florida a través de una empresa conjunta con Nuveen Real Estate.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH)는 허리케인 헬렌이 자사의 조립식 주택 커뮤니티 포트폴리오에 미친 영향을 보고했습니다. 이 회사는 플로리다, 앨라배마, 사우스캐롤라이나, 조지아, 테네시, 오하이오에 있는 커뮤니티에서 주로 강풍과 집중 호우로 인해 경미한 피해를 입었습니다. 사장 겸 CEO인 사무엘 A. 랜디(Samuel A. Landy)는 피해가 그들의 주택의 품질과 내구성을 보여준다고 강조했습니다.
모든 거주자와 직원은 안전하며, UMH는 경미한 피해를 청소하고 수리하기 위한 조치를 취하고 있습니다. 회사는 폭풍의 영향이 운영이나 재무 결과에 주목할 만한 영향을 미치지 않을 것으로 예상하고 있습니다. UMH Properties는 11개 주에 약 25,800개 개발된 주택 부지가 있는 136개의 조립식 주택 커뮤니티를 소유하고 운영하며, Nuveen Real Estate와의 합작 투자를 통해 플로리다의 두 커뮤니티에 대한 소유 지분도 보유하고 있습니다.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) a rapporté l'impact de l'ouragan Helene sur son portefeuille de communautés de maisons préfabriquées. L'entreprise a subi des dommages mineurs dans des communautés en Floride, Alabama, Caroline du Sud, Géorgie, Tennessee et Ohio, principalement en raison de vents forts et de fortes pluies. Le président et PDG Samuel A. Landy a souligné que les dommages témoignent de la qualité et de la durabilité de leurs maisons.
Tous les résidents et employés sont en sécurité, et UMH prend des mesures pour nettoyer et réparer les dommages marginaux. L'entreprise ne s'attend pas à ce que les effets de la tempête aient un impact matériel sur les opérations ou les résultats financiers. UMH Properties possède et gère 136 communautés de maisons préfabriquées avec environ 25 800 emplacements développés dans 11 États, ainsi qu'un intérêt de propriété dans deux communautés de Floride à travers une coentreprise avec Nuveen Real Estate.
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) hat über die Auswirkungen des Hurrikans Helene auf sein Portfolio an Fertighausgemeinschaften berichtet. Das Unternehmen erlitt geringfügige Schäden an Gemeinschaften in Florida, Alabama, South Carolina, Georgia, Tennessee und Ohio, hauptsächlich aufgrund von starkem Wind und heftigem Regen. Präsident und CEO Samuel A. Landy betonte, dass die Schäden die Qualität und Langlebigkeit ihrer Häuser zeigen.
Alle Bewohner und Mitarbeiter sind sicher, und UMH trifft Maßnahmen, um die geringfügigen Schäden zu beseitigen und zu reparieren. Das Unternehmen erwartet nicht, dass die Auswirkungen des Sturms einen wesentlichen Einfluss auf die Betriebsabläufe oder die finanziellen Ergebnisse haben werden. UMH Properties besitzt und betreibt 136 Fertighausgemeinschaften mit etwa 25.800 entwickelten Grundstücken in 11 Bundesstaaten sowie eine Beteiligung an zwei Gemeinschaften in Florida durch ein Joint Venture mit Nuveen Real Estate.
- damage to communities demonstrates the quality and durability of UMH homes
- No material impact expected on operations or financial results
- All residents and employees are reported safe
- None.
Insights
The impact of Hurricane Helene on UMH Properties' portfolio appears to be minimal, which is a positive outcome for the company. The damage reported across their communities in multiple states demonstrates the resilience of their assets. This event showcases the quality of UMH's manufactured homes and community infrastructure, which could be a selling point for future residents and investors.
From a financial perspective, the company's statement that they "do not expect the effects of the storm to have a material impact on our operations or financial results" is reassuring for investors. It suggests that any repair costs or potential loss of rental income will likely be insignificant relative to the company's overall financial position.
UMH's readiness to provide support as requested by government entities could potentially lead to positive community relations and possibly new business opportunities in the aftermath of the hurricane. This proactive stance might enhance the company's reputation and could be viewed favorably by stakeholders.
Overall, while natural disasters always pose risks to real estate companies, UMH seems to have weathered this storm well, both literally and figuratively, which should be viewed positively by investors in terms of the company's risk management and asset quality.
FREEHOLD, NJ, Oct. 02, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) reported today on the impact of Hurricane Helene on its portfolio of manufactured housing communities.
Samuel A. Landy, President and Chief Executive Officer, commented, “Our communities in Florida, Alabama, South Carolina and Georgia experienced high winds and heavy rain which resulted in minor damage to these communities. Additionally, several of our communities in Tennessee and Ohio had trees down and other minor damage. The limited damage to our homes and our communities demonstrates the quality and durability of our homes. Most importantly, all of our residents and employees are safe. We are taking appropriate measures to clean up and repair any marginal damages sustained at our communities. We do not expect the effects of the storm to have a material impact on our operations or financial results. While our damage was minimal, others were not as fortunate. We stand ready to provide support as requested by the local, state and federal government.”
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.
Contact: Nelli Madden
732-577-4062
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