UMH Properties

UMH Properties, Inc. operates as a real estate investment trust. It engages in the ownership and operation of manufactured home communities in seven states throughout the northeast. These states include New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. Manufactured home communities provide long-term appreciation, recession resistant qualities, and stable income streams. The firm also leases manufactured homes to residents. It designs accommodate detached, single-family manufactured homes which are produced off-site by manufacturers and installed on sites within the communities. The company was founded by Eugene W. Landy in 1968 and is headquartered in Freehold, NJ.

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Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

UMH Properties reports solid Q1 performance amidst affordability focus

UMH Properties demonstrated strong financial performance with FFO and rental income growth, focusing on affordability and long-term capital.
Challenges include increased costs due to inventory management and pricing pressures on new homes, but the company is actively addressing these issues.
Opportunities lie in capital optimization, inventory reduction, and strategic acquisitions to drive future growth and operational efficiency.
Overall, UMH's stable performance, tenant quality focus, and strategic initiatives position the company well for sustained growth and competitiveness.

UMH Properties reports robust Q2 performance, eyes national expansion

UMH Properties delivered a strong performance in Q2 2023, with notable increases in key financial metrics and successful debt reduction post-quarter end.
The company's strategic focus on affordable housing solutions, tenant retention strategies, and expansion into high-demand markets position it well for future growth and market leadership.
Despite challenges posed by inflation and operational scalability, UMH Properties remains resilient and poised to capitalize on opportunities for revenue growth and market expansion.

UMH Properties reports strong Q3 growth, eyes Florida for expansion

UMH Properties demonstrated positive financial performance and growth in Q3 2023, with plans to expand its portfolio and increase profitability.
The company's strategic positioning in affordable housing markets and focus on workforce housing present growth opportunities.
Despite challenges such as high mortgage rates and property development timelines, UMH remains committed to meeting housing needs and driving revenue.
UMH's emphasis on long-term growth, community improvements, and capital allocation underscores its resilience and strategic vision for the future.

UMH Properties reports robust Q4 performance and eyes growth opportunities

UMH Properties delivered strong financial results, showcasing growth in FFO, sales, and community NOI, underpinned by a focus on affordable housing and operational efficiency.
While challenges exist in debt management and profitability metrics, the company's proactive approach and strategic initiatives position them well for future growth and dividend increases.
Opportunities in expanding through acquisitions, optimizing revenue streams, and enhancing operational efficiency present avenues for sustained growth and value creation in 2024.

UMH Properties reports strong Q1 performance and eyes growth opportunities

UMH Properties demonstrated robust financial performance in Q1 2024, marked by revenue growth, increased occupancy, and operational efficiency improvements.
The company's strategic focus on affordable housing demand, cost management, and revenue enhancement positions it for sustained growth and value creation.
While facing challenges in expanding communities and maintaining operational excellence, UMH has opportunities to drive growth through strategic investments and market expansion.
Overall, UMH's strong performance, resilience, and strategic initiatives underscore its potential for continued success and value creation for stakeholders.

UMH Properties reports strong Q3 growth, eyes acquisitions for expansion

UMH Properties' Q3 performance reflects a robust growth trajectory, supported by increased occupancy and revenue. The company's strategic focus on affordable housing and expansion plans position it well for future opportunities and acquisitions.

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FREEHOLD, NJ, Aug. 06, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) reported Total Income for the quarter ended June 30, 2024 of $60.3 million as compared to $55.3 million for the quarter ended June 30, 2023, representing an increase of 9%. Net Income Attributable to Common Shareholders amounted to $527,000 or $0.01 per diluted share for the quarter ended June 30, 2024 as compared to a Net Loss of $4.4 million or $0.07 per diluted share for the quarter ended June 30, 2023. Normalized Funds from Operations Attributable to Common Shareholders (“Normalized FFO”), was $16.8 million or $0.23 per diluted share for the quarter ended June 30, 2024, as compared to $13.0 million or $0.21 per diluted share for the quarter ended June 30, 2023, representing a 10% per diluted share increase.

UMH PROPERTIES, INC. REPORTS RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2024

FREEHOLD, NJ, July 10, 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 second quarter 2024 operating results:

UMH PROPERTIES, INC. SECOND QUARTER 2024 OPERATIONS UPDATE

UMH Properties benefits from the ongoing US housing shortage - it's a major manufactured home company. UMH has waiting lists for its homes, in addition to having a strong pipeline of sites. UMH has strong financial performance, improving dividend coverage, and potential for growth in the manufactured housing industry.

UMH Properties Preferred Shares: 7% Yield, Riding Long-Term Housing Demand

FREEHOLD, NJ, June 26, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust (REIT) specializing in manufactured home communities, announced that it will host its Second Quarter 2024 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Wednesday, August 7, 2024, at 10:00 a.m. Eastern Time.

UMH PROPERTIES, INC. WILL HOST SECOND QUARTER 2024 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL

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FREEHOLD, NJ, June 03, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), today announced that the Company will attend the Department of Housing and Urban Development's annual Innovative Housing showcase for the 4th year in a row. The event kicks off with a Showcase Opening Ceremony at 9am on Friday, June 7, 2024, on the National Mall in Washington, DC.

UMH PROPERTIES, INC. WILL ATTEND AND SHOWCASE TWO DUPLEX HOMES AT THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S ANNUAL INNOVATIVE HOUSING SHOWCASE

UMH Properties, Inc. is benefiting from the ongoing housing shortage in the U.S., with strong demand for affordable housing. The company has transformed communities and increased the supply of quality affordable housing. UMH Properties has a portfolio of manufactured home communities and has room for expansion, particularly in the Marcellus and Utica Shale regions.

UMH Properties: Riding Long-Term Housing Demand, 7% Preferred Yield

FREEHOLD, NJ, May 28, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), today announced that the Company will participate in Nareit's REITweek: 2024 Investor Conference, to be held in New York City, at the New York Hilton Midtown.

UMH PROPERTIES, INC. TO PARTICIPATE IN NAREIT'S REITWEEK: 2024 INVESTOR CONFERENCE

Within the housing sector, market conditions over the next several months imply a continuation in the gap between buying and renting. The manufactured home sector is benefiting from high demand due to affordable prices and attractive rental options. UMH Properties is a value-add play with a unique business model and potential for growth through development and acquisitions.

UMH Properties: A Housing Play With Promise

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UMH Properties, Inc. (NYSE:UMH ) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Craig Koster - Executive Vice President and General Counsel Samuel Landy - President and Chief Executive Officer Anna Chew - Executive Vice President and Chief Financial Officer Eugene Landy - Founder and Chairman Brett Taft - Executive Vice President and Chief Operating Officer Conference Call Participants Rob Stevenson - Janney Rich Anderson - Wedbush Jeff Walkenhorst - Copeland Capital Management John Massocca - B. Riley Securities Operator Good morning, everyone and welcome to UMH Properties First Quarter 2024 Earnings Conference Call.

UMH Properties, Inc. (UMH) Q1 2024 Earnings Call Transcript

UMH Properties (UMH) came out with quarterly funds from operations (FFO) of $0.22 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.20 per share a year ago.

UMH Properties (UMH) Matches Q1 FFO Estimates

FREEHOLD, NJ, May 02, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) reported Total Income for the quarter ended March 31, 2024 of $57.7 million as compared to $52.6 million for the quarter ended March 31, 2023, representing an increase of 10%. Net Loss Attributable to Common Shareholders amounted to $6.3 million or $0.09 per diluted share for the quarter ended March 31, 2024 as compared to a Net Loss of $5.3 million or $0.09 per diluted share for the quarter ended March 31, 2023.

UMH PROPERTIES, INC. REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2024

FREEHOLD, NJ, April 05, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust (REIT) specializing in manufactured home communities, announced today that it has published its 2023 Sustainability Report. It is now available on the Company's website at www.umh.reit .

UMH PROPERTIES, INC. PUBLISHES ITS 2023 SUSTAINABILITY REPORT

FREEHOLD, NJ, April 04, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE: UMH) is pleased to announce that on April 4, 2024, UMH was named Manufactured Housing Institute's Community Operator of the Year.

UMH PROPERTIES, INC. HONORED WITH MANUFACTURED HOUSING INSTITUTE'S COMMUNITY OPERATOR OF THE YEAR

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FREEHOLD, NJ, April 03, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) (TASE:UMH), announced today that it has expanded its existing unsecured revolving credit facility (the “Facility”) from $180 million in available borrowings to $260 million in available borrowings. The Facility is syndicated with three banks, BMO Capital MarketsCorp. (“BMO”), JPMorgan Chase Bank, N.A. (“JPMorgan”) and Wells Fargo Bank, N.A. (“Wells Fargo”) as joint arrangers and joint book runners, with Bank of Montreal as administrative agent.

UMH PROPERTIES, INC. EXPANDS ITS EXISTING UNSECURED REVOLVING CREDIT AGREEMENT

UMH Properties, Inc. is an undervalued income stock that offers steady growth and value for investors. It recently raised its dividend by 5%. Its stock price has outperformed its peers in the manufactured housing space due in part to strong execution and undervaluation. UMH Properties has strong fundamentals, including improved occupancy, NOI growth, and cost efficiency, and is well-positioned for continued growth.

UMH Properties Exudes Confidence With A Dividend Raise

UMH Properties is a REIT focused on manufactured housing in the eastern and central regions of the United States. The company benefits from its exposure to the Marcellus & Utica Shale region, where it provides housing for workers in the natural gas industry. UMH Properties has been executing steady rental increases and improving occupancy, with the potential for further FFO growth in the future.

UMH Properties: Appears Expensive But Worth Paying Up For FFO Growth

FREEHOLD, NJ, April 01, 2024 (GLOBE NEWSWIRE) -- On April 1, 2024, the Board of Directors of UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) declared a quarterly dividend of $0.3984375 per share for the period from March 1, 2024, through May 31, 2024, on the Company's 6.375% Series D Cumulative Redeemable Preferred Stock payable June 17, 2024, to shareholders of record at the close of business on May 15, 2024. Series D preferred share dividends are cumulative and payable quarterly at an annual rate of $1.59375 per share.

UMH PROPERTIES, INC. DECLARES PREFERRED DIVIDEND

FREEHOLD, NJ, April 01, 2024 (GLOBE NEWSWIRE) -- On April 1, 2024, UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) announced today that its Board of Directors approved a 4.9% increase in the Company's quarterly common stock dividend, raising it to $0.215 per share from $0.205 per share. The dividend is payable June 17, 2024, to shareholders of record at the close of business on May 15, 2024. This represents an annual dividend rate of $0.86 per share.

UMH PROPERTIES, INC. ANNOUNCES DIVIDEND INCREASE

FREEHOLD, NJ, March 25, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust (REIT) specializing in manufactured home communities, announced that it will host its First Quarter 2024 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Friday, May 3, 2024, at 10:00 a.m. Eastern Time.

UMH PROPERTIES, INC. WILL HOST FIRST QUARTER 2024 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL

UMH Properties saw excellent progress in its same-property NOI, with a 19% increase in Q4 2023 and a 12.5% increase for the entire year. The normalized FFO for UMH Properties in FY 2023 was $54.5M, a significant improvement compared to previous years. The preferred shares of UMH Properties offer a preferred dividend yield of approximately 6.78% and are well-covered by the company's earnings.

UMH Properties: 6.8% Yielding Preferred Shares Are More Interesting Than Common Shares

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