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Mar 31, 2021
UMH Properties Q1 2021 Earnings Report
Reported solid operating results and an excellent start to 2021.
Key Takeaways
UMH Properties reported a strong first quarter in 2021 with a 15% increase in total income, a significant increase in net income attributable to common shareholders, and growth in Funds from Operations (FFO) and Normalized FFO.
Total income increased by 15% compared to the same quarter last year.
Net income attributable to common shareholders improved significantly from a net loss last year.
Normalized FFO increased by 33% year over year.
Same property occupancy increased by 320 basis points year over year to 86.3%.
Forward Guidance
UMH has a runway for organic growth with vacant sites, undeveloped land, and external growth opportunities.
Positive Outlook
- The company has 3,500 vacant sites within existing communities to fill.
- There are 1,800 acres of undeveloped land that can be developed into 7,200 home sites.
- UMH intends to acquire additional communities in Alabama and South Carolina.
- Internal and external growth opportunities pave the way for continued FFO and dividend growth.
- UMH raised its common stock dividend 5.5% to $0.19 per quarter or $0.76 per year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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