Overview

* UMH Properties ( UMH ) Q3 total income rises 10% yr/yr but misses analyst expectations

* Net income for Q3 falls significantly compared to last year

* Normalized FFO for Q3 increases 15% yr/yr

Outlook

* Company did not provide specific financial guidance for future periods

Result Drivers

* RENTAL INCOME - Rental and related income increased by 11%, driving total income growth

* COMMUNITY NOI - Community net operating income rose by 11%, contributing to Normalized FFO growth

* OCCUPANCY IMPROVEMENT - Same property occupancy increased by 110 basis points, enhancing revenue

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Total Miss $66.91 $68.80

Income mln mln (3

Analysts

)

Q3 Net $4.21

Income mln

Q3 $21.31

Adjusted mln

FFO

Q3 FFO $19.74

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "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 $19.00, about 23.5% above its October 31 closing price of $14.54

* The stock recently traded at 73 times the next 12-month earnings vs. a P/E of 92 three months ago

Press Release:

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(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.)