Loading...
•
Dec 31, 2024
UMH Properties Q4 2024 Earnings Report
UMH Properties, Inc. reported strong financial results for the fourth quarter and full year ended December 31, 2024, demonstrating significant growth in total income, FFO, and improvements in financial position.
Key Takeaways
UMH Properties, Inc. reported a 9% increase in total income for Q4 2024, reaching $61.9 million, and a 9% increase for the full year to $240.6 million. Net income attributable to common shareholders for Q4 was $28,000, while full-year net income was $2.5 million. Normalized FFO per diluted share for the full year increased by 8% to $0.93.
Total Income increased by 9% for both the fourth quarter and the full year ended December 31, 2024.
Normalized FFO per diluted share for the full year 2024 increased by 8% to $0.93, up from $0.86 in 2023.
The company successfully expanded its unsecured credit facility by $80 million, increasing available borrowings to $260 million.
UMH Properties issued and sold approximately 12.5 million shares of Common Stock and 1.2 million shares of Series D Preferred Stock through At-the-Market Sale Programs, generating significant gross proceeds.
Forward Guidance
UMH Properties is initiating 2025 guidance with Normalized FFO in a range of $0.96-$1.04 per diluted share, representing a 7.5% annual growth at the midpoint over full year 2024 Normalized FFO.
Positive Outlook
- Anticipates obtaining 5% rent increases in 2025.
- Plans to add 800 new homes to the rental home portfolio.
- Sales and finance division has the ability to increase sales revenue and profits.
- Long-term business plan positions the company for another year of excellent operating and financial performance.
- Opportunistically raised capital through ATM programs to make accretive investments and complete acquisitions.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...