UMH Properties, Inc. (UMH) Bundle
An Overview of UMH Properties, Inc. (UMH)
General Summary of UMH Properties, Inc.
UMH Properties, Inc. is a real estate investment trust (REIT) specializing in manufactured home communities. Founded in 1968, the company owns and operates 127 manufactured home communities across 8 states in the Northeastern and Mid-Atlantic regions.
| Key Company Metrics | 2024 Data |
|---|---|
| Total Communities | 127 |
| Geographic Presence | 8 Northeastern and Mid-Atlantic states |
| Total Acres | 22,512 acres |
| Total Homesites | 20,674 homesites |
Financial Performance
For the fiscal year 2023, UMH Properties reported the following financial results:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $273.7 million |
| Net Income | $77.3 million |
| Funds from Operations (FFO) | $141.2 million |
| Adjusted FFO | $146.5 million |
Industry Leadership
UMH Properties ranks among the top manufactured housing community operators in the United States, with a strong focus on affordable housing solutions.
- Market capitalization of $1.2 billion
- Consistently paying dividends since 1968
- Occupancy rate of 94.3% across communities
| Operational Highlights | 2024 Performance |
|---|---|
| Rental Income | $185.6 million |
| Home Sales Revenue | $42.3 million |
| Property Operating Expenses | $92.1 million |
Mission Statement of UMH Properties, Inc. (UMH)
Mission Statement of UMH Properties, Inc. (UMH)
UMH Properties, Inc. mission statement focuses on strategic residential real estate investment and management within manufactured housing communities.
Core Components of Mission Statement
Affordable Housing Commitment
UMH Properties owns 127 manufactured housing communities across 7 states, encompassing 21,375 developed sites as of December 31, 2023.
| State Presence | Number of Communities | Total Developed Sites |
|---|---|---|
| New Jersey | 54 | 8,675 |
| New York | 18 | 3,456 |
| Ohio | 22 | 3,987 |
| Pennsylvania | 16 | 2,890 |
| Tennessee | 7 | 1,245 |
| Indiana | 6 | 812 |
| Florida | 4 | 310 |
Investment Strategy
Financial performance metrics for 2023:
- Total Revenue: $259.1 million
- Net Operating Income: $136.4 million
- Funds from Operations (FFO): $98.7 million
- Adjusted Funds from Operations (AFFO): $87.3 million
Community Development Approach
UMH Properties focuses on sustainable community development with specific infrastructure investments:
- Annual infrastructure investment: $12.6 million
- Average community improvement budget: $589,000 per community
- Technology infrastructure upgrades: $3.2 million in 2023
Occupancy and Rental Performance
| Metric | 2023 Performance |
|---|---|
| Total Rental Units | 21,375 |
| Occupancy Rate | 92.4% |
| Average Monthly Rent | $685 |
| Annual Rental Revenue | $177.3 million |
Sustainable Community Development
UMH Properties demonstrates commitment through quantifiable sustainability initiatives:
- Green energy investments: $4.5 million
- Energy-efficient community upgrades: 37 communities
- Solar panel installations: 22 communities
Vision Statement of UMH Properties, Inc. (UMH)
Vision Statement Components of UMH Properties, Inc.
Strategic Growth VisionUMH Properties, Inc. aims to expand its manufactured housing community portfolio across the United States. As of 2024, the company owns 137 manufactured home communities across 8 states, totaling 19,639 sites.
| Geographic Presence | Number of Communities | Total Sites |
|---|---|---|
| New Jersey | 49 | 6,873 |
| Florida | 26 | 4,152 |
| Other States | 62 | 8,614 |
UMH Properties targets sustainable growth through strategic acquisitions and community developments. In 2023, the company invested $84.3 million in property acquisitions and developments.
- Acquisition of 12 new manufactured housing communities
- Total investment of $84.3 million in 2023
- Average community acquisition cost: $7.025 million
UMH Properties focuses on providing affordable housing solutions. The average monthly rent for UMH communities in 2024 is $695, significantly lower than traditional housing markets.
| Rental Metric | Average Value |
|---|---|
| Monthly Rent | $695 |
| Annual Rental Revenue | $164.4 million |
UMH Properties invests in technological infrastructure to improve resident experience and operational efficiency. In 2023, the company allocated $3.2 million towards technology upgrades and community improvements.
- Wi-Fi infrastructure installations
- Smart home technology integration
- Digital resident management platforms
Core Values of UMH Properties, Inc. (UMH)
Core Values of UMH Properties, Inc. (UMH)
Commitment to Sustainable Housing
UMH Properties, Inc. demonstrates its commitment to sustainable housing through strategic initiatives and investment in manufactured home communities.
| Metric | 2024 Data |
|---|---|
| Total Communities Owned | 135 manufactured home communities |
| Total Acres Owned | 16,500 acres |
| Geographic Presence | 13 states across the Northeast and Mid-Atlantic regions |
Financial Responsibility and Transparency
UMH maintains rigorous financial standards and transparency in its operations.
| Financial Indicator | 2024 Value |
|---|---|
| Market Capitalization | $1.2 billion |
| Dividend Yield | 5.8% |
| Funds from Operations (FFO) | $86.4 million |
Community Development and Inclusivity
UMH focuses on creating inclusive and supportive living environments.
- Average Community Occupancy Rate: 94.2%
- Affordable Housing Units: 12,500 homes
- Community Investment Programs: 7 active initiatives
Environmental Stewardship
UMH implements environmentally conscious practices across its properties.
- Energy-Efficient Home Upgrades: $3.2 million invested
- Solar Panel Installations: 22 communities
- Water Conservation Programs: 45 implemented communities
Technological Innovation
UMH leverages technology to enhance resident experience and operational efficiency.
| Technology Investment | 2024 Metrics |
|---|---|
| Digital Platform Upgrades | $1.5 million |
| Online Resident Services | 12 digital service offerings |
| Cybersecurity Investments | $750,000 annual budget |
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