UMH Properties, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 28, 2024 at 04:45 pm EST
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UMH Properties, Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was USD 49.25 million compared to USD 43.74 million a year ago. Revenue was USD 56.98 million compared to USD 48.75 million a year ago.
Net income was USD 11.3 million compared to USD 3.72 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.005 a year ago.
UMH Properties, Inc. is a real estate investment trust (REIT). The Companyâs primary business is the ownership and operation of manufactured home communities, leasing manufactured homesites to residents. The Company also leases manufactured homes to residents and, through its wholly owned taxable REIT subsidiary, UMH Sales and Finance, Inc. (S&F), sells and finances the sale of manufactured homes to residents and prospective residents of its communities and for placement on customersâ privately owned land. The Company owns and operates 135 manufactured home communities, including two communities acquired through the Companyâs opportunity zone fund, containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia. In connection with the operation of its communities, the Company also leases homes to prospective tenants.
UMH PROPERTIES, INC. 
