UMH Properties Inc Price, Forecast, Insider, Ratings, Fundamentals & Signals

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.

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 .

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.

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.

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 (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.

Despite the elevated supply of new units, high homeownership costs and tech-enabled features are likely to draw healthy rental demand, poising the Zacks Equity REIT - Residential industry players like INVH, UMH and CSR well for growth.

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 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.

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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 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 (UMH) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

UMH Properties, Inc. (UMH) Q4 2023 Earnings Call Transcript

UMH Properties (UMH) came out with quarterly funds from operations (FFO) of $0.23 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to FFO of $0.20 per share a year ago.