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Dec 31, 2021
UMH Properties Q4 2021 Earnings Report
UMH Properties reported an increase in total income and net income for the quarter ended December 31, 2021.
Key Takeaways
UMH Properties reported an increase in total income and net income for the quarter ended December 31, 2021. Total income increased by 7% to $46.0 million, while net income attributable to common shareholders amounted to $9.4 million or $0.17 per diluted share.
Total income for the quarter ended December 31, 2021, was $46.0 million, up 7% from $42.8 million in the same quarter of 2020.
Net income attributable to common shareholders for the quarter was $9.4 million, or $0.17 per diluted share, compared to $15.6 million, or $0.38 per diluted share, in the prior year quarter.
Funds from Operations (FFO) was $10.1 million, or $0.20 per diluted share, compared to $8.5 million, or $0.20 per diluted share, in the prior year quarter.
Normalized Funds from Operations (Normalized FFO) was $11.0 million, or $0.22 per diluted share, compared to $8.5 million, or $0.20 per diluted share, in the prior year quarter.
Forward Guidance
UMH is focused on executing its business plan and building long-term value for shareholders. The company is well positioned to redeem preferred stock and anticipates continued dividend growth.
Positive Outlook
- All-time high stock price with ample growth opportunities
- Community level operations are stronger than ever
- Proven business plan continues to generate industry-leading same property operating results
- Strong demand for affordable housing at communities
- Well positioned to execute on preferred stock redemptions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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