UMH Properties, Inc. Overview
UMH Properties, Inc. is a publicly traded real estate investment trust (REIT) that was founded in 1968 and is headquartered in Freehold, New Jersey. The company specializes in the ownership and operation of manufactured home communities, and it is one of the largest owners and operators of manufactured home communities in the United States. As of December 31, 2020, UMH owned and operated a total of 131 manufactured home communities with approximately 21,000 developed home sites located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, and Maryland.
UMH Properties, Inc. Business Model
UMH Properties, Inc. is a self-administered and self-managed REIT that focuses on the ownership and operation of manufactured home communities. The company’s business model is to acquire, develop, operate, and manage manufactured home communities in order to generate rental income from the home sites and other amenities. UMH also provides financing to its residents for the purchase of manufactured homes.
UMH Properties, Inc. Financial Performance
UMH Properties, Inc. has a strong financial performance, with total revenues of $125.2 million in 2020, an increase of 4.3% from 2019. Net income for 2020 was $30.2 million, an increase of 4.2% from 2019. The company’s total assets as of December 31, 2020, were $1.3 billion, an increase of 5.3% from 2019.
UMH Properties, Inc. Dividend Policy
UMH Properties, Inc. has a dividend policy of paying out a quarterly dividend to its shareholders. The company has paid a dividend every quarter since its initial public offering in 1994. The current dividend rate is $0.20 per share, which is an increase of 4.2% from the prior year.
UMH Properties, Inc. Recent Developments
UMH Properties, Inc. has recently announced several developments that are expected to have a positive impact on the company’s future performance. In March 2021, the company announced the acquisition of two manufactured home communities in Pennsylvania and Ohio for a total purchase price of $14.2 million. The company also announced the acquisition of a manufactured home community in Michigan for a purchase price of $3.5 million.
In April 2021, UMH Properties, Inc. announced the acquisition of a manufactured home community in Indiana for a purchase price of $3.3 million. The company also announced the acquisition of a manufactured home community in Tennessee for a purchase price of $2.2 million.
UMH Properties, Inc. Outlook
UMH Properties, Inc. is well-positioned for future growth and success. The company has a strong financial performance, a dividend policy that rewards shareholders, and a portfolio of acquisitions that are expected to have a positive impact on the company’s future performance. The company is also well-positioned to benefit from the increasing demand for manufactured home communities in the United States.
The company’s management team is focused on expanding the company’s portfolio of manufactured home communities and increasing its rental income. The company is also focused on providing financing to its residents for the purchase of manufactured homes.
Overall, UMH Properties, Inc. is a well-positioned REIT that is well-positioned for future growth and success. The company has a strong financial performance, a dividend policy that rewards shareholders, and a portfolio of acquisitions that are expected to have a positive impact on the company’s future performance. The company is also well-positioned to benefit from the increasing demand for manufactured home communities in the United States.