UMH Properties, Inc. (UMH) announced a 4.7% increase in the company’s quarterly common stock dividend, raising it to 22.5 cents per share from 21.5 cents paid earlier. The increased dividend will be paid out on June 16 to shareholders on record as of May 15, 2025.Based on the increase, the annual dividend rate now comes to 90 cents per share, resulting in an annualized yield of 4.82%, considering UMH Properties’ closing price of $18.69 on April 1, 2025.Solid dividend payouts remain the biggest enticements f ...

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UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 141 manufactured home communities, containing approximately 26,500 developed homesites, of which 10,300 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 141 communities are two communities in Florida, containing 363 sites, that U ...

# # # # # UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 141 manufactured home communities, containing approximately 26,500 developed homesites, of which 10,300 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 141 communities are two communities in Florida, containing 363 sit ...

UMH Properties, Inc. (UMH) recently acquired two age-restricted manufactured home communities, Cedar Grove Park and Maplewood Village in Mantua, NJ, for a total purchase price of $24.6 million.Cedar Grove Park and Maplewood Village are high-quality stabilized communities that contain all modern, homeowner-occupied, manufactured homes. These communities, which are situated on approximately 38 acres, consist of 266 developed homesites, of which 100% are occupied.These communities are well-located near Philade ...

Core Insights - UMH Properties, Inc. has successfully acquired two age-restricted manufactured home communities in Mantua, New Jersey for a total of $24.6 million, which includes 266 developed homesites that are fully occupied [1][2] - The acquisition is expected to be accretive to earnings and offers additional upside through the brokerage of home sales, indicating strong demand in the area [2] Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, owning and operating 141 manufactured home communities with approximately 26,500 developed homesites, of which 10,300 are rental homes [2] - The company's properties are located across several states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [2] - UMH also has a joint venture with Nuveen Real Estate, which includes two communities in Florida with 363 sites [2]

Core Insights - UMH Properties, Inc. has published its 2024 Annual Report, which is now available on the company's website [1][2] - The company operates 139 manufactured home communities with approximately 26,300 developed homesites, including 10,300 rental homes and over 1,000 self-storage units [2] Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, focusing on manufactured home communities [2] - The company's communities are located across multiple states, including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [2] - Among the 139 communities, there are two in Florida with 363 sites, operated through a joint venture with Nuveen Real Estate [2]

Core Viewpoint - UMH Properties, Inc. will host its First Quarter 2025 Financial Results Webcast and Conference Call on May 2, 2025, to discuss financial results, market conditions, and future outlook [1]. Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, owning and operating 139 manufactured home communities with approximately 26,300 developed homesites, including 10,300 rental homes and over 1,000 self-storage units [4]. - The company's communities are located across several states, including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [4]. - Among the 139 communities, two are in Florida, containing 363 sites operated through a joint venture with Nuveen Real Estate [4]. Upcoming Events - The First Quarter 2025 results will be released on May 1, 2025, after the close of trading on the New York Stock Exchange, and will be accessible on the company's website [2]. - Interested parties can participate in the webcast via the company's website or through a conference call using provided toll-free numbers [2]. Conference Call Details - A replay of the conference call will be available on May 2, 2025, at 12:00 p.m. Eastern Time, with access through specific toll-free numbers and a passcode [3]. - A transcript of the call and the webcast replay will also be available on the company's website [3].

Financial Data and Key Metrics Changes - Normalized FFO for Q4 2024 was $0.24 per share, up 4% from $0.23 per share in Q4 2023. For the full year, normalized FFO was $0.93 per share, an 8% increase from $0.86 in 2023 [9][25]. - Rental and related income for Q4 2024 increased to $53.3 million, an 8% rise from $49.2 million in Q4 2023. For the full year, it rose from $189.7 million in 2023 to $207 million in 2024, a 9% increase [26]. - Community NOI for Q4 2024 was $31.1 million, up 8% from $28.7 million in Q4 2023, and for the full year, it increased from $108.4 million in 2023 to $119.7 million in 2024, a 10% increase [28]. Business Line Data and Key Metrics Changes - Same property income increased by 8% for Q4 and 9% for the full year, with same property NOI growth of 8% for Q4 and 10% for the year [14][28]. - The rental home program added 565 homes in 2024, bringing the total to 10,300 rental homes, with a 94% occupancy rate [15][17]. Market Data and Key Metrics Changes - The company anticipates further occupancy growth in 2025, projecting to add another 800 homes or more [16]. - The sales division achieved gross sales of $33.5 million in 2024, an 8% increase from $31.2 million in 2023 [17]. Company Strategy and Development Direction - The company has a long-term value-add business plan, focusing on generating future income through vacant land and new home setups [11]. - The acquisition pipeline has grown, with four communities under contract, totaling 457 sites, and a purchase price of $39.1 million [19][20]. - The company aims to continue upgrading and adding to the supply of affordable housing, with a focus on community expansions and new developments [37][40]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the acquisition market in 2025, anticipating that high-interest rates may lead to more reasonable community prices [19]. - The company expects normalized FFO guidance for 2025 to be in the range of $0.96 to $1.04 per share [36]. Other Important Information - The company ended the year with $99.7 million in cash and cash equivalents and $260 million available on its credit facility [29]. - The total market capitalization increased to approximately $2.5 billion at year-end, up 23% from the previous year [33]. Q&A Session Summary Question: Details on the four acquisitions under contract - The company has four communities under contract, two in New Jersey and two in Maryland, with a total purchase price of $39.2 million [44][47]. Question: Expected interest rates for refinancing with Fannie Mae - The company anticipates refinancing rates to be in the 5.5% to 5.75% range [51]. Question: Factors affecting 2025 guidance range - Key factors include home sales and acquisitions, with potential for exceeding previous sales figures [61][62]. Question: Confidence in accelerating rental home additions - The company has a better starting inventory and anticipates faster growth in the rental home program [90]. Question: Changes in buyer demographics - The widening affordability gap has led to higher credit quality among buyers, with more cash purchases expected [122]. Question: Update on single-family housing developments - A preliminary agreement has been made with a luxury homebuilder for a potential JV to develop 131 acres in New Jersey [148].

Financial Data and Key Metrics Changes - Normalized FFO for Q4 2024 was $0.24 per share, up 4% from $0.23 per share in Q4 2023. For the full year, normalized FFO was $0.93 per share, an 8% increase from $0.86 in 2023 [9][25] - Rental and related income for Q4 2024 increased to $53.3 million, an 8% rise from $49.2 million in Q4 2023. For the full year, it rose from $189.7 million in 2023 to $207 million in 2024, a 9% increase [26] - Community NOI for Q4 2024 was $31.1 million, up 8% from $28.7 million in Q4 2023, and for the full year, it increased from $108.4 million in 2023 to $119.7 million in 2024, a 10% increase [28] Business Line Data and Key Metrics Changes - Same property income increased by 8% for Q4 and 9% for the full year, with same property NOI growth of 8% for Q4 and 10% for the year [14][28] - The rental home program added 565 homes in 2024, with a target of adding 800 homes in 2025. The current occupancy rate for rental homes is 94% [15][29] - Gross sales for the year reached $33.5 million, an 8% increase from $31.2 million in 2023, with a gross sales margin of 35% [17] Market Data and Key Metrics Changes - The company anticipates further occupancy growth in 2025 as it rents and sells its in-place inventory and continues to achieve 5% rent increases across the portfolio [15] - The acquisition pipeline has grown, with four communities under contract, totaling 457 sites, with a purchase price of $39.1 million [19][20] Company Strategy and Development Direction - The company has a long-term value-add business plan, focusing on generating future income through vacant land and new home setups [11][23] - The company aims to provide affordable housing solutions and has been actively involved in upgrading and expanding its communities [37][41] - The company is optimistic about acquiring communities at reasonable prices due to the prolonged high-interest rate environment [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving similar or improved same property operating results in 2025, driven by occupancy growth and rental home additions [15][36] - The company is well-positioned to execute on acquisition opportunities and anticipates a strong year in 2025 [42][41] Other Important Information - The company ended the year with $99.7 million in cash and cash equivalents and $260 million available on its credit facility [29] - The total market capitalization increased to approximately $2.5 billion at year-end, up 23% from the previous year [33] Q&A Session Summary Question: Can you provide more details on the four acquisitions under contract? - The company has four communities under contract, two in New Jersey and two in Maryland, with a total purchase price of $39.2 million. The New Jersey communities are 100% occupied, while one Maryland property has a value-add opportunity [44][46] Question: What interest rates are expected for refinancing with Fannie Mae? - The company expects refinancing rates to be in the 5.5% to 5.75% range, with proceeds exceeding current balances [51] Question: What are the key factors affecting the 2025 guidance range? - Home sales and acquisitions are the primary factors influencing the guidance range [61] Question: How confident is the company in achieving the target of 800 new rental homes? - The company is optimistic about achieving this target due to better inventory management and strong demand in key markets [90] Question: What is the anticipated impact of potential changes in financing laws? - Changes in financing laws could significantly increase home sales, as more renters may transition to homeowners [103] Question: What is the expected stabilized return on the acquisition pipeline? - The expected stabilized return on the acquisition pipeline is in the 6.5% to 7% range over five years [133]