UMH Properties ( (UMH) ) has released its Q4 earnings. Here is a breakdown of the information UMH Properties presented to its investors.
UMH Properties, Inc. is a public equity real estate investment trust (REIT) that specializes in operating manufactured home communities across several states in the United States. The company is known for its extensive portfolio of 139 communities, providing affordable housing solutions.
In its latest earnings report, UMH Properties announced a significant increase in total income for the year ending December 31, 2024, reaching $240.6 million, up 9% from the previous year. The company also reported a notable turnaround in net income attributable to common shareholders, achieving a profit of $2.5 million compared to a loss in the prior year.
Key financial metrics highlighted in the report include a 27% increase in Normalized Funds from Operations (FFO) to $69.5 million, and a rise in community net operating income by 10%. The company successfully raised its quarterly dividend by 4.9% and expanded its unsecured credit facility by $80 million, reflecting robust financial health and strategic growth initiatives.
UMH Properties’ management expressed optimism for 2025, with plans to continue expanding its rental home portfolio and increasing sales revenue. The company anticipates achieving a 7.5% growth in Normalized FFO per share, indicating a positive outlook for sustained financial performance.
Overall, UMH Properties is well-positioned to capitalize on opportunities in the manufactured housing market, with a strong foundation laid in 2024 and strategic plans for continued growth and value creation in the coming year.