Overview

* UMH Properties ( UMH ) Q2 total income grows 10%, beating analyst expectations

* Company raises quarterly dividend by 4.7% to $0.225 per share

Outlook

* Company anticipates further occupancy and revenue growth with new rental units

* UMH Properties ( UMH ) plans to grow acquisition pipeline in near future

* Company expects strong sales from increased traffic at new expansions

Result Drivers

* INCOME GROWTH - Total income increased by 10% to $66.6 mln, driven by higher rental and related income, and increased sales of manufactured homes

* LOAN ACQUISITION - Company closed on a $101.4 mln interest-only loan at a fixed rate of 5.85% to support future growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Total In-line $66.64 $66 mln

Income mln (4

Analysts

)

Q2 Net $2.53

Income mln

Q2 $19.45

Adjusted mln

FFO

Q2 FFO $18.70

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the residential reits peer group is "buy"

* Wall Street's median 12-month price target for UMH Properties Inc ( UMH ) is $20.75, about 19.8% above its August 5 closing price of $16.64

* The stock recently traded at 97 times the next 12-month earnings vs. a P/E of 83 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)