Financial Performance - For the quarter ended June 2024, UMH Properties reported revenue of $60.33 million, reflecting a 9.1% increase year-over-year [1] - The earnings per share (EPS) was $0.23, a significant improvement from -$0.07 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $59.84 million by 0.82% [1] - The company delivered an EPS surprise of 4.55%, with the consensus EPS estimate being $0.22 [1] Key Metrics - Sales of Manufactured Homes amounted to $8.83 million, surpassing the average estimate of $8.47 million by two analysts, representing a year-over-year change of 7.4% [3] - Rental and Related Income reached $51.49 million, slightly above the average estimate of $51.36 million based on two analysts, indicating a year-over-year increase of 9.4% [4] - The diluted net income per share was $0.01, compared to the average estimate of -$0.02 from three analysts [5] Stock Performance - Shares of UMH have returned 10.7% over the past month, contrasting with the Zacks S&P 500 composite's decline of 6.7% [5] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5]

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 ...

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: "We have positioned the company with a strong balance sheet so that we can continue to invest in new homes, capital improvements and the expansion of our communities, which will enhance the long-term value of our portfol ...

Core Insights - UMH Properties, Inc. continues to experience strong demand for sales and rentals, leading to significant income and occupancy growth [5] - The company has converted 144 new homes into revenue-generating rental homes, increasing its total rental homes to approximately 10,100 with a 95% occupancy rate [1] - Gross home sales revenue for the second quarter reached $8.8 million, a 7% increase from $8.2 million in the previous year [2][1] Financial Performance - Overall occupancy increased by 196 units year-to-date, reaching 87%, with a 64-unit increase in the second quarter alone [1] - Year-over-year occupancy growth amounted to 430 units, translating to a 195 basis point increase in the occupancy rate [1] - The rental and related charges for June 2024 increased by 10%, resulting in an annualized monthly rent roll of $207 million [1] Inventory and Sales Strategy - The company operates with just-in-time inventory, having replenished its stock in the first half of the year to support further occupancy and revenue growth [2] - Currently, there are 315 homes ready for occupancy or being set up, with an additional 140 homes expected to be delivered soon [2] Future Outlook - The company maintains a strong balance sheet, allowing for continued investment in new homes and capital improvements, which will enhance long-term portfolio value and earnings per share [6] - UMH is prepared to acquire new communities when accretive investment opportunities arise [6]

FREEHOLD, NJ, July 01, 2024 (GLOBE NEWSWIRE) -- On July 1, 2024, the Board of Directors of UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) declared its quarterly cash dividend on the Company's Common Stock of $0.215 per share payable September 16, 2024, to shareholders of record at the close of business on August 15, 2024. The Company's annual dividend rate on its Common Stock is $0.86 per share. Also, on July 1, 2024, the Board of Directors declared a quarterly dividend of $0.3984375 per share for the period fr ...

UMH's Second Quarter 2024 results will be released on Tuesday, August 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. 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, Mary ...

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., which was organized in 1968, is a public equity REIT that owns and ...

Core Viewpoint - UMH Properties, Inc. will participate in the Department of Housing and Urban Development's annual Innovative Housing showcase, highlighting their commitment to innovative housing solutions [1] Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, owning and operating 136 manufactured home communities with approximately 25,800 developed homesites across several states including New Jersey, New York, and Ohio [3] Event Participation - The Innovative Housing Showcase will take place on June 7, 2024, in Washington, DC, marking UMH's fourth consecutive year of participation [1] Product Offerings - At the showcase, UMH will present two HUD code duplex models in collaboration with Cavco Industries, Inc. and Skyline Champion Corporation [2] - The 'UMH Tiny' model is a factory-built single section unit measuring 16' by 70', designed to create two one-bedroom, 500-square-foot dwellings [2] - The second model is a multi-section unit measuring 28' by 70', which can be divided into two two-bedroom, one-bath, 900-square-foot units, with one unit featuring solar shingles [2] Market Positioning - UMH aims to provide quality housing at lower monthly rents through duplex manufactured homes, catering to families wishing to live together while maintaining separate spaces [3] - The company emphasizes the importance of these homes in urban areas where increased density is necessary, promoting modern living arrangements that meet residents' needs [3]

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. Samuel A. Landy, President and Chief Executive Officer, commented "At this year's Innovative Housing Showcase, UMH will be showcasing two ...

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's senior management team is scheduled to present on Tuesday, June 4, 2024, at 10:15 a.m. Eastern Time. The presentation will be available live via webcast and accessible on the Company's website, www.umh.reit, in the Upcoming Events section. The webcast repl ...