UMH Properties(US:UMH) Globenewswireยท2025-08-06 20:30Core Insights - UMH Properties, Inc. reported a total income of $66.6 million for Q2 2025, a 10% increase from $60.3 million in Q2 2024 [1][4] - Net income attributable to common shareholders rose to $2.5 million or $0.03 per diluted share in Q2 2025, compared to $527,000 or $0.01 per diluted share in Q2 2024 [1][2] - Normalized Funds from Operations (Normalized FFO) increased by 16% to $19.5 million or $0.23 per diluted share, consistent with the previous year on a per share basis [1][4] Financial Performance - Total income for the six months ended June 30, 2025, was $127.9 million, up from $118.0 million in 2024 [2] - Total expenses for the same period increased to $105.7 million from $97.7 million [2] - Net income attributable to common shareholders for the six months was $2.3 million, a recovery from a loss of $5.7 million in 2024 [2] Operational Highlights - Rental and related income increased by 9% year-over-year, with community net operating income rising by 11% for Q2 2025 [4][5] - Same property rental and related income increased by 8%, and same property net operating income increased by 10% [5][7] - Occupancy rates improved by 80 basis points, from 87.4% to 88.2% [7] Sales and Acquisitions - Sales of manufactured homes reached approximately $10.5 million, a 19% increase from $8.8 million in the previous year, marking a quarterly sales record [6][7] - The company acquired two communities in Maryland for $14.6 million, contributing to a total of four communities acquired year-to-date for $39.2 million [8][7] Capital Management - The company raised its quarterly common stock dividend by $0.01, representing a 4.7% increase to $0.225 per share [7] - Issued approximately 1.8 million shares of common stock through an At-the-Market Sale Program, generating gross proceeds of $31.0 million [7] - Amended a $35 million revolving line of credit with OceanFirst Bank, extending the maturity date to June 1, 2027 [7]