- As of year end, UMH achieved an equity market capitalization of over
$1 billion . - During the year, UMH rented 1,040 new homes, 130 of which were rented during the fourth quarter. UMH now owns approximately 10,000 rental homes with an occupancy rate of 94.0%.
- During the year, UMH sold 164 new homes, 41 of which were sold during the fourth quarter. Home sales revenue increased to
$31.1 million during the year ended 2023 from$25.3 million during the year ended 2022, resulting in a 22.9% increase in home sales revenue. - Overall occupancy increased by 705 units for the year to 86.7%. Same-property occupancy increased by 632 units to 88.5%.
- Our occupancy gains and rent increases achieved throughout 2023 have increased our
January 2024 rental and related charges by approximately 12.0%, resulting in our annualized monthly rent roll generating approximately$196 million .
It should be noted that the financial information set forth above reflects our preliminary estimates with respect to such information, based on information currently available to management, and may vary from our actual financial results as of and for the year and quarter ended
Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company’s current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company’s annual report on Form 10-K and described from time to time in the Company’s other filings with the
Contact:
732-577-4062
Source:
2024 GlobeNewswire, Inc., source