UMH PropertiesNYSE: UMH

UMH Properties benefits from the ongoing US housing shortage - it's a major manufactured home company. UMH has waiting lists for its homes, in addition to having a strong pipeline of sites. UMH has strong financial performance, improving dividend coverage, and potential for growth in the manufactured housing industry.

FREEHOLD, NJ, July 01, 2024 (GLOBE NEWSWIRE) -- On July 1, 2024, the Board of Directors of UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) declared its quarterly cash dividend on the Company's Common Stock of $0.215 per share payable September 16, 2024, to shareholders of record at the close of business on August 15, 2024. The Company's annual dividend rate on its Common Stock is $0.86 per share.

FREEHOLD, NJ, June 03, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), today announced that the Company will attend the Department of Housing and Urban Development's annual Innovative Housing showcase for the 4th year in a row. The event kicks off with a Showcase Opening Ceremony at 9am on Friday, June 7, 2024, on the National Mall in Washington, DC.

UMH Properties reported quarterly funds from operations (FFO) of $0.22 per share, meeting the Zacks Consensus Estimate. This is an increase from FFO of $0.20 per share in the same quarter last year.

UMH Properties, Inc. is an undervalued income stock that offers steady growth and value for investors. It recently raised its dividend by 5%. Its stock price has outperformed its peers in the manufactured housing space due in part to strong execution and undervaluation. UMH Properties has strong fundamentals, including improved occupancy, NOI growth, and cost efficiency, and is well-positioned for continued growth.

UMH Properties is a REIT focused on manufactured housing in the eastern and central regions of the United States. The company benefits from its exposure to the Marcellus & Utica Shale region, where it provides housing for workers in the natural gas industry. UMH Properties has been executing steady rental increases and improving occupancy, with the potential for further FFO growth in the future.

FREEHOLD, NJ, March 25, 2024 (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 First Quarter 2024 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Friday, May 3, 2024, at 10:00 a.m. Eastern Time.

UMH Properties saw excellent progress in its same-property NOI, with a 19% increase in Q4 2023 and a 12.5% increase for the entire year. The normalized FFO for UMH Properties in FY 2023 was $54.5M, a significant improvement compared to previous years. The preferred shares of UMH Properties offer a preferred dividend yield of approximately 6.78% and are well-covered by the company's earnings.

UMH (UMH) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.