The company reported Core Funds from Operations of $4,620,000, $0.17 per diluted share for the quarter ending March 31, 2016, as compared to $3,159,000 or $0.13 per diluted share for the comparable quarter of 2015, representing an increase in Core FFO per diluted share of 30.8%., reports biznewsnetwork.
Additionally, rental income rose by 26.5 percent over the same period last year, increased same property net operating income (NOI) 16.7 percent, increased home sales 52.3 percent and increased rental home occupancy from 92.9 percent as of 12-31-2015 to 94.8 percent this most recent quarter.
Meanwhile, UMH recently announced a quarterly dividend of $0.18 per share, payable Wed., June 15, 2016 to shareholder of record on Mon., May 16, representing a dividend of $0.72 on an annualized basis, and a dividend yield of 7.28 percent.
Furthermore, Director James E. Mitchell purchased 5,000 shares of company stock, disclosed in a filing with the Securities and Exchange Commission (SEC) at an average cost of $25.50 per share for a total transaction valued at $127,500. Mitchell now owns 8,000 shares of UMH stock with a value of $204,000.
In trading today on the New York Stock Exchange, UMH stock was up +0.51 percent to close at $9.89.
A rfeal estate investment trust (REIT), UMH owns and operates 98 MHCs comprised of 17,800 developed sites in seven states east of the Mississippi River. The company also owns a portfolio of REIT securities. ##
(Photo credit: UMH Properties, Inc.)
