UMH Properties, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:16 pm EST
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UMH Properties, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 48.14 million compared to USD 42.89 million a year ago. Revenue was USD 56.04 million compared to USD 51.94 million a year ago. Net loss was USD 1.47 million compared to USD 5.16 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.18 a year ago.
For the nine months, sales was USD 140.5 million compared to USD 126.7 million a year ago. Revenue was USD 163.94 million compared to USD 147.03 million a year ago. Net loss was USD 3.3 million compared to USD 8.57 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to USD 0.68 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. 
