UMH Properties, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
February 28, 2024 at 04:16 pm EST
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UMH Properties, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 189.75 million compared to USD 170.43 million a year ago. Revenue was USD 220.93 million compared to USD 195.78 million a year ago.
Net income was USD 8.01 million compared to net loss of USD 4.85 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.67 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to USD 0.67 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. 
