Manufactured home communities

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UMH PROPERTIES, INC. THIRD QUARTER 2025 OPERATIONS UPDATE
Globenewswireยท 2025-10-01 20:30
Core Viewpoint - UMH Properties, Inc. is experiencing growth in sales, occupancy, and overall operating results, with expectations for increased earnings per share due to recent capital deployment into new rental homes and community acquisitions [1][2]. Group 1: Operating Results - The company converted 223 new homes from inventory to revenue-generating rental homes during the quarter, with a year-to-date total of 528 conversions, resulting in approximately 10,800 rental homes and a strong occupancy rate of 94.1% [2][4]. - Same property occupancy increased by 132 units in Q3 and 357 units year-over-year, reaching 88.5% [4]. - Gross home sales revenue for the third quarter was approximately $10 million, reflecting a 14% increase compared to the previous year, with $9.2 million from home sales and an additional $800,000 from the Honey Ridge community [4]. Group 2: Financial Performance - Rental and related charges for Q3 totaled approximately $57.7 million, a 10.1% increase from $52.4 million in the previous year, driven by a 10% increase in same property rental charges [4]. - The company has a sales pipeline of approximately $3.6 million, positioning it well for the fourth quarter [3]. Group 3: Capital Activities - UMH completed the acquisition of two manufactured home communities in Conowingo, Maryland, for $14.6 million, with 79% of the 191 developed homesites occupied [4]. - The company raised approximately $80.2 million through the issuance of 5.85% Series B Bonds due 2030, with proceeds allocated for working capital and general corporate purposes [4]. - Approximately 290,000 shares of Common Stock were sold at a weighted average price of $16.44 per share, generating gross proceeds of $4.8 million [4].
If You Invested $10K In Equity LifeStyle Properties Stock 10 Years Ago, How Much Would You Have Now?
Yahoo Financeยท 2025-09-22 12:01
Company Overview - Equity LifeStyle Properties Inc. (ELS) is a real estate investment trust that owns and operates manufactured home communities, RV resorts, campgrounds, and marinas across the U.S. and Canada [1] Earnings Expectations - The company is set to report its Q3 2025 earnings on October 20, with Wall Street analysts expecting an EPS of $0.57, down from $0.72 in the prior-year period [2] - Quarterly revenue is expected to reach $393.09 million, an increase from $387.26 million a year earlier [2] Historical Performance - The stock traded at approximately $29.11 per share 10 years ago, and an investment of $10,000 would have allowed the purchase of roughly 344 shares [3] - Currently, shares trade at $60.33, indicating that the investment's value could have grown to $20,725 from stock price appreciation alone [3] - Over the last 10 years, the company has paid about $14.60 in dividends per share, resulting in $5,015 from dividends alone [4] - The total value of the investment after 10 years would be $25,740, representing a total return of 157.4%, which is significantly less than the S&P 500 total return of 302% for the same period [5] Future Outlook - The company has a consensus rating of "Buy" with a price target of $71.04, implying more than 17% potential upside from the current stock price [6] - For the full year 2025, the company expects net income per common share in the range of $1.94 to $2.04, and normalized FFO per share of $3.01 to $3.11 [7]
UMH PROPERTIES, INC. WILL HOST THIRD QUARTER 2025 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL
Globenewswireยท 2025-09-15 18:57
Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, specializing in manufactured home communities [5] - The company owns and operates 144 manufactured home communities with approximately 26,800 developed homesites, including 10,600 rental homes and over 1,000 self-storage units [5] - These communities are located across several states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [5] Upcoming Financial Results - UMH Properties will host its Third Quarter 2025 Financial Results Webcast and Conference Call on November 4, 2025, at 10:00 a.m. Eastern Time [1] - The financial results will be released on November 3, 2025, after the close of trading on the New York Stock Exchange [2] - Interested parties can participate in the webcast via the company's website or through a conference call [3] Conference Call Details - A replay of the conference call will be available on November 4, 2025, at 12:00 p.m. Eastern Time [4] - The replay can be accessed by dialing specific toll-free numbers for domestic and international callers [4] - A transcript of the call and the webcast replay will also be available on the company's website [4]
UMH Highlights Solid Q2 Performance, Expands in Maryland Market
ZACKSยท 2025-07-03 15:01
Core Insights - UMH Properties, Inc. (UMH) reported strong second-quarter performance driven by rental home conversions, rising occupancy, and increased rental income [1] Group 1: Rental Home Performance - UMH converted 188 homes from inventory to revenue-generating rental units in Q2, bringing the total to 10,600 rental homes with a 94.4% occupancy rate [2][11] - Year-to-date, UMH has transitioned 305 homes into rental units and aims to reach a full-year goal of 800 new rental homes, with over 500 homes in the setup pipeline [3] Group 2: Sales and Revenue - The company achieved $10.3 million in gross home sales revenues for the quarter, a 17% increase from the previous year, setting a new quarterly sales record [4][11] Group 3: Refinancing Activities - UMH refinanced ten communities through its Fannie Mae credit facility, generating $101.4 million in proceeds from properties appraised at $163.5 million, reflecting a 146% appreciation from its $66.6 million investment [5] - The refinancing resulted in approximately $56 million in excess proceeds, which can be reinvested in rental home programs, expansions, and capital upgrades [6] Group 4: Acquisitions - UMH acquired two manufactured home communities in Conowingo, MD, for $14.625 million, adding 191 developed homesites and enhancing operational synergies with existing properties [7][8] - The total year-to-date community purchases amount to four, representing 457 sites for $39.2 million [8] Group 5: Overall Strategy and Market Position - The second-quarter performance underscores the effectiveness of UMH's rental home strategy and disciplined capital deployment, with rising occupancy and record home sales [9] - Shares of UMH have increased by 6.3% over the past year, contrasting with a 1.3% decline in the industry [10]
UMH PROPERTIES, INC. COMPLETES ACQUISITION OF TWO MARYLAND MANUFACTURED HOME COMMUNITIES
Globenewswireยท 2025-07-02 20:22
Acquisition Details - UMH Properties, Inc. has acquired two manufactured home communities in Conowingo, Maryland for a total purchase price of $14.625 million, consisting of 191 developed homesites with 79% occupancy [1][2] - The acquisition includes Maybelle Manor, a fully occupied community with 49 sites, and Conowingo Court, a value-add community with 142 sites, of which 101 are homeowner occupied [3] Operational Efficiency - The acquisition expands UMH's footprint in the Maryland market and is expected to create operational efficiencies, leading to higher returns [2] - The company plans to implement its typical business plan to increase occupancy rates and property-level value over time [3] Year-to-Date Performance - Year to date, UMH has completed the acquisition of four communities, totaling 457 sites for a total purchase price of $39.2 million, indicating a strong acquisition pipeline moving forward [4] - UMH Properties, Inc. operates 143 manufactured home communities with approximately 26,700 developed homesites across multiple states [4]
UMH PROPERTIES, INC. SECOND QUARTER 2025 OPERATIONS UPDATE
Globenewswireยท 2025-07-02 11:30
Core Viewpoint - UMH Properties, Inc. reported strong second quarter operating results, highlighting the effectiveness of its long-term business plan and the successful addition to its Fannie Mae credit facility, which generated approximately $56 million in proceeds for further investments [1][2]. Financial Performance - The company converted 188 new homes from inventory to revenue-generating rental homes in Q2 2025, totaling approximately 10,600 rental homes with an occupancy rate of 94.4% [2]. - Same Property occupancy increased by 76 units in Q2 and 251 units year-over-year, reaching 88.2% [2]. - Gross home sales revenue reached $10.3 million, a 17% increase from $8.8 million in the previous year [2]. - Rental and related charges for Q2 were $55.9 million, up 8.5% from $51.5 million last year, with a 9.2% increase in same property charges compared to July 2024 [2]. Refinancing and Investments - The addition of ten communities to the Fannie Mae credit facility generated total proceeds of approximately $101.4 million, with a fixed interest rate of 5.855%. These communities were appraised at $163.5 million, reflecting a 146% increase in value from the company's cost basis of $66.6 million [2]. - The company issued approximately 1.8 million shares of Common Stock at a weighted average price of $17.60 per share, generating gross proceeds of $31.0 million [2]. Future Outlook - The company anticipates continued sales and occupancy growth throughout the year, with a target of converting 800 new rental homes in 2025, supported by over 500 new homes in various stages of setup [1].
Equity LifeStyle Properties (ELS) Earnings Call Presentation
2025-06-24 16:00
Company Overview - ELS operates a high-quality portfolio of manufactured home communities, RV resorts, campgrounds, and marinas in North America[5, 9] - The company has achieved a total return of 6,866% since its IPO, significantly outperforming the S&P 500 (1,895%) and Dow Jones Equity All REIT Index (1,514%)[6, 43] - ELS boasts an enterprise value of $17.3 billion and owns 451 properties across 35 states and 1 Canadian province, comprising 172,465 sites[6] Financial Performance - The company's core annual revenue reached $1.3 billion in 2023[10] - ELS has a strong NFFO/Share CAGR of 8.6% from 2006 to 2023 and a dividend/share CAGR of 21% over the same period[10] - The annualized dividend per common share is $1.91 for 2024[10] Portfolio Performance - Core MH base rental income growth for January QTD is 6.6%, with a core occupancy of 94.8% as of January 31, 2024[22] - Core RV Resort and Marina base rental income growth for January QTD is 4.1%, with annual base rental income growth of 6.6%[22] - Normalized FFO per Common Share was $2.75, 4.7% higher than the year ended December 31, 2022[22] Capital Structure - The company's debt to enterprise value is 20.5%, with a total debt to Adjusted EBITDAre ratio of 5.3x[10, 179] - ELS has a weighted average interest rate of 3.7% and an average term to maturity of 9 years[10, 177] - 18% of the company's debt is fully amortizing[10]
UMH PROPERTIES, INC. WILL HOST SECOND QUARTER 2025 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL
Globenewswireยท 2025-06-23 19:15
Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, specializing in manufactured home communities [5] - The company owns and operates 141 manufactured home communities with approximately 26,500 developed homesites, including 10,400 rental homes and over 1,000 self-storage units [5] - These communities are located across several states, including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [5] Upcoming Financial Events - UMH Properties will host its Second Quarter 2025 Financial Results Webcast and Conference Call on August 7, 2025, at 10:00 a.m. Eastern Time [1] - The financial results will be released on August 6, 2025, after the close of trading on the New York Stock Exchange [2] - Interested parties can participate in the webcast via the company's website or through a conference call [3] Conference Call Details - A replay of the conference call will be available on August 7, 2025, at 12:00 p.m. Eastern Time [4] - The replay can be accessed by dialing specific toll-free numbers for domestic and international callers [4] - A transcript of the call and the webcast replay will also be available on the company's website [4]
UMH PROPERTIES, INC. TO PARTICIPATE IN NAREIT'S REITWEEK: 2025 INVESTOR CONFERENCE
GlobeNewswire News Roomยท 2025-05-27 16:25
Core Viewpoint - UMH Properties, Inc. will participate in the Nareit's REITweek: 2025 Investor Conference in New York City on June 3, 2025 [1] 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, including 10,400 rental homes and over 1,000 self-storage units [3] - The communities are located across multiple states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [3] - Among the 141 communities, there are two in Florida with 363 sites, operated through a joint venture with Nuveen Real Estate [3] Event Details - The presentation by UMH's senior management team is scheduled for June 3, 2025, at 10:15 a.m. Eastern Time and will be available via live webcast on the company's website [2] - A replay of the webcast will be accessible for 30 days following the presentation, and presentation materials will also be available on the company's homepage [2]
UMH PROPERTIES, INC. ANNOUNCES ADDITION TO FANNIE MAE CREDIT FACILITY
Globenewswireยท 2025-05-16 20:15
Core Viewpoint - UMH Properties, Inc. has successfully added ten communities with 2,001 sites to its Fannie Mae credit facility, securing approximately $101.4 million in proceeds to support further investments and debt repayment [1][2]. Group 1: Financial Details - The loan is an interest-only loan with a fixed rate of 5.855% and a 10-year term [1]. - The ten communities were appraised at $163.5 million, equating to $82,000 per site, while the total investment in these communities is approximately $66.6 million [2]. - The increase in value of these communities is $96.9 million, representing a 146% rise from the original cost basis [2]. Group 2: Business Strategy and Operations - The proceeds from the refinancing will be utilized for additional acquisitions, expansions, rental homes, and to repay higher interest rate debt on a short-term basis [1]. - UMH Properties operates 141 manufactured home communities with around 26,500 developed homesites, including 10,400 rental homes and over 1,000 self-storage units across multiple states [3]. - The company aims to provide additional affordable housing while generating significant long-term results for shareholders [3].