Latest news with #UMHProperties
Yahoo
05-07-2025
- Business
- Yahoo
UMH Highlights Solid Q2 Performance, Expands in Maryland Market
UMH Properties, Inc. UMH, a REIT focused on manufactured home communities, recently provided its second-quarter operating update, which reflected healthy performance, driven by rental home conversions, rising occupancy and higher rental income. The REIT converted 188 new homes from inventory to revenue-generating rental units during the quarter, bringing its total to 10,600 rental homes with a strong 94.4% occupancy rate. Same-property occupancy increased to 88.2%, marking a year-over-year gain of 251 units. So far in the year, UMH has transitioned 305 homes from inventory into revenue-generating rental units. CEO Samuel A. Landy reaffirmed confidence in reaching the company's full-year goal of 800 new rental homes, with more than 500 new homes already in the setup also achieved $10.3 million in gross home sales revenues for the quarter, up 17% from last year, setting a new quarterly sales record. These metrics highlight the success of UMH's rental home program in tapping into sustained demand for affordable housing. A major highlight of the quarter was the refinancing of ten communities through UMH's Fannie Mae credit facility. These properties, appraised at $163.5 million, generated $101.4 million in proceeds at a fixed interest rate of 5.855%. The refinancing revealed a substantial 146% appreciation from UMH's $66.6 million investment. In addition, the refinancing yielded around $56 million in excess proceeds over the outstanding principal, which UMH can strategically reinvest in its rental home program, expansions, capital upgrades and future acquisitions, enhancing its portfolio's long-term value. UMH is actively pursuing refinancing opportunities for the remaining mortgage maturities scheduled in 2025. In line with its growth strategy, UMH acquired two manufactured home communities in Conowingo, MD — Conowingo Court and Maybelle Manor — for $14.625 million. These properties add 191 developed homesites and border UMH's existing Cinnamon Woods community, enabling operational synergies. Maybelle Manor is fully occupied and features high-quality, multi-section homes, while Conowingo Court offers value-add potential, with room for increased occupancy and property upgrades. The acquisitions bring UMH's total year-to-date community purchases to four, representing 457 sites for $39.2 million. UMH Properties' second-quarter performance reaffirms the strength of its rental home strategy and disciplined capital deployment. With rising occupancy, record home sales and smart refinancing that unlocks hidden asset value, UMH is executing a well-balanced plan for scalable, long-term growth. However, elevated supply, macroeconomic uncertainty and policy changes remain of this Zacks Rank #3 (Hold) company have rallied 6.3% in the past year against the industry's decline of 1.3%. Image Source: Zacks Investment Research Some better-ranked stocks from the residential REIT sector are Veris Residential, Inc. VRE and Elme Communities ELME, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Zacks Consensus Estimate for Veris Residential's 2025 FFO per share has been revised upward over the past month to 62 cents, suggesting 3.3% year-over-year growth, respectively. The Zacks Consensus Estimate for Elme Communities' current-year FFO per share of 95 cents indicates a 1.1% year-over-year increase, backed by 2.8% growth in revenues. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UMH Properties, Inc. (UMH) : Free Stock Analysis Report Veris Residential, Inc. (VRE) : Free Stock Analysis Report Elme Communities (ELME) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Business Upturn
03-07-2025
- Business
- Business Upturn
UMH PROPERTIES, INC. COMPLETES ACQUISITION OF TWO MARYLAND MANUFACTURED HOME COMMUNITIES
By GlobeNewswire Published on July 3, 2025, 01:22 IST FREEHOLD, NJ, July 02, 2025 (GLOBE NEWSWIRE) — UMH Properties, Inc. (NYSE: UMH; TASE: UMH) closed on the acquisition of two manufactured home communities, located in Conowingo, Maryland, for a total purchase price of $14.625 million. These communities contain 191 developed homesites, of which 79% are occupied. They are situated on approximately 82 acres. Samuel A. Landy, President and Chief Executive Officer, commented, 'We are pleased to complete the acquisition of Conowingo Court and Maybelle Manor, further expanding our footprint in the Maryland market. These two communities adjoin our existing Maryland community, Cinnamon Woods, which will create efficiencies in our operation, resulting in higher returns. 'Maybelle Manor is a high-quality stabilized community that contains 49 sites, which are 100% occupied. The community consists of predominantly modern, homeowner occupied, multi-section homes. Conowingo Court is a value-add community that contains 142 sites, of which 101 sites are homeowner occupied. We will implement our typical business plan, which should result in growing occupancy rates and property-level value over time. 'Year to date, we have completed the acquisition of four communities, containing 457 sites, for a total purchase price of $39.2 million. We continue to evaluate acquisition opportunities and anticipate a growing acquisition pipeline as we progress throughout the remainder of the year.' UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 143 manufactured home communities, containing approximately 26,700 developed homesites, of which 10,600 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 143 communities are two communities in Florida, containing 363 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate. Contact: Nelli Madden 732-577-9997 # # # # Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
23-06-2025
- Business
- Yahoo
UMH PROPERTIES, INC. WILL HOST SECOND QUARTER 2025 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL
FREEHOLD, NJ, June 23, 2025 (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 2025 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Thursday, August 7, 2025, at 10:00 a.m. Eastern Time. UMH's Second Quarter 2025 results will be released on Wednesday, August 6, 2025, after the close of trading on the New York Stock Exchange and will be available on the Company's website at in the Financials section. To participate in the webcast, select the webcast icon on the homepage of the Company's website at in the Upcoming Events section. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally). The replay of the conference call will be available at 12:00 p.m. Eastern Time on Thursday, August 7, 2025, and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 4486279. A transcript of the call and the webcast replay will be available at the Company's website, 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 10,400 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 UMH owns and operates through its joint venture with Nuveen Real Estate. Contact: Nelli Madden 732-577-4062 # # # # #Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
23-06-2025
- Business
- Globe and Mail
UMH PROPERTIES, INC. WILL HOST SECOND QUARTER 2025 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL
FREEHOLD, NJ, June 23, 2025 (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 2025 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Thursday, August 7, 2025, at 10:00 a.m. Eastern Time. UMH's Second Quarter 2025 results will be released on Wednesday, August 6, 2025, after the close of trading on the New York Stock Exchange and will be available on the Company's website at in the Financials section. To participate in the webcast, select the webcast icon on the homepage of the Company's website at in the Upcoming Events section. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally). The replay of the conference call will be available at 12:00 p.m. Eastern Time on Thursday, August 7, 2025, and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 4486279. A transcript of the call and the webcast replay will be available at the Company's website, 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 10,400 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 UMH owns and operates through its joint venture with Nuveen Real Estate. # # # # #
Yahoo
23-06-2025
- Business
- Yahoo
UMH PROPERTIES, INC. WILL HOST SECOND QUARTER 2025 FINANCIAL RESULTS WEBCAST AND CONFERENCE CALL
FREEHOLD, NJ, June 23, 2025 (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 2025 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Thursday, August 7, 2025, at 10:00 a.m. Eastern Time. UMH's Second Quarter 2025 results will be released on Wednesday, August 6, 2025, after the close of trading on the New York Stock Exchange and will be available on the Company's website at in the Financials section. To participate in the webcast, select the webcast icon on the homepage of the Company's website at in the Upcoming Events section. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally). The replay of the conference call will be available at 12:00 p.m. Eastern Time on Thursday, August 7, 2025, and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 4486279. A transcript of the call and the webcast replay will be available at the Company's website, 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 10,400 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 UMH owns and operates through its joint venture with Nuveen Real Estate. Contact: Nelli Madden 732-577-4062 # # # # #Sign in to access your portfolio
