UMH Properties, Inc. Files Q1 2024 10-Q Report

TL;DR

<b>UMH Properties, Inc. has filed its Q1 2024 10-Q, detailing its financial performance and operational status.</b>

AI Summary

UMH PROPERTIES, INC. (UMH-PD) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. UMH Properties, Inc. filed its quarterly report on Form 10-Q for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. UMH Properties, Inc. is classified under Real Estate Investment Trusts (SIC 6798). The company's principal business address is in Freehold, NJ. UMH Properties, Inc. was formerly known as UNITED MOBILE HOMES INC.

Why It Matters

For investors and stakeholders tracking UMH PROPERTIES, INC., this filing contains several important signals. This 10-Q filing provides investors with an updated view of UMH Properties, Inc.'s financial health and strategic direction for the first quarter of 2024. As a REIT, the company's performance in manufactured housing communities is crucial for understanding its real estate investment strategy and potential returns.

Risk Assessment

Risk Level: low — UMH PROPERTIES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments.

Analyst Insight

Monitor future filings for detailed financial results, occupancy rates, and any strategic updates regarding their manufactured housing communities.

Key Numbers

• 2024-03-31 — Report Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 6798 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 001-12690 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• UMH PROPERTIES, INC. (company) — FILER
• UNITED MOBILE HOMES INC (company) — FORMER COMPANY
• NJ (location) — STATE OF INCORPORATION
• MD (location) — STATE OF INCORPORATION
• Freehold (location) — CITY

FAQ

Industry Context

UMH Properties, Inc. operates in the real estate sector, specifically focusing on manufactured housing communities. This sector is influenced by housing demand, interest rates, and local economic conditions.

Regulatory Implications

As a publicly traded company, UMH Properties, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to ensure transparency for investors.

What Investors Should Do

1. Analyze the full 10-Q filing for detailed financial statements and management discussion.
2. Compare Q1 2024 results to previous quarters and the same period last year.
3. Research industry trends in manufactured housing and REIT performance.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date UMH Properties, Inc. submitted its 10-Q to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with an update on the company's financial performance and condition between annual reports.)

REIT

Real Estate Investment Trust. A company that owns, operates, or finances income-generating real estate. (UMH Properties, Inc. operates as a REIT, making its performance directly tied to its real estate assets.)

Year-Over-Year Comparison

This filing represents the first quarterly report for 2024, providing an update from the previous annual report (10-K) and prior quarterly filings.

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value UMH New York Stock Exchan

Filing Documents

• form10-q.htm (10-Q) — 888KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32.htm (EX-32) — 10KB
• 0001493152-24-017580.txt (&nbsp;) — 5197KB
• umh-20240331.xsd (EX-101.SCH) — 51KB
• umh-20240331_cal.xml (EX-101.CAL) — 62KB
• umh-20240331_def.xml (EX-101.DEF) — 220KB
• umh-20240331_lab.xml (EX-101.LAB) — 381KB
• umh-20240331_pre.xml (EX-101.PRE) — 291KB
• form10-q_htm.xml (XML) — 682KB

- OTHER INFORMATION

PART II - OTHER INFORMATION 38 Item 1. Legal Proceedings 3 8 Item 1A. Risk Factors 3 8 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 3 8 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 3 8 Item 5. Other Information 3 8 Item 6. Exhibits 3 9

SIGNATURES

SIGNATURES 40 2 UMH PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 AND DECEMBER 31, 2023 (in thousands except per share amounts) March 31, 2024 December 31, 2023 (Unaudited) - ASSETS - Investment Property and Equipment Land $ 86,497 $ 86,497 Site and Land Improvements 900,966 896,568 Buildings and Improvements 39,709 39,506 Rental Homes and Accessories 527,229 516,470 Total Investment Property 1,554,401 1,539,041 Equipment and Vehicles 29,560 29,126 Total Investment Property and Equipment 1,583,961 1,568,167 Accumulated Depreciation ( 430,020 ) ( 416,309 ) Net Investment Property and Equipment 1,153,941 1,151,858 Other Assets Cash and Cash Equivalents 39,865 57,320 Marketable Securities at Fair Value 29,143 34,506 Inventory of Manufactured Homes 29,219 32,940 Notes and Other Receivables, net 82,772 81,071 Prepaid Expenses and Other Assets 14,508 11,729 Land Development Costs 42,075 33,302 Investment in Joint Venture 24,916 24,851 Total Other Assets 262,498 275,719 TOTAL ASSETS $ 1,416,439 $ 1,427,577 See Accompanying Notes to Consolidated Financial Statements 3 UMH PROPERTIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS – CONTINUED AS OF MARCH 31, 2024 AND DECEMBER 31, 2023 (in thousands except per share amounts) March 31, 2024 December 31, 2023 (Unaudited) - LIABILITIES AND SHAREHOLDERS' EQUITY - LIABILITIES: Mortgages Payable, net of unamortized debt issuance costs $ 493,767 $ 496,483 Other Liabilities: Accounts Payable 5,754 6,106 Loans Payable, net of unamortized debt issuance costs 77,547 93,479 Series A Bonds, net of unamortized debt issuance costs 100,267 100,055 Accrued Liabilities and Deposits 12,221 15,117 Tenant Security Deposits 9,726 9,543 Total Other Liabilities 205,515 224,300 Total Liabilities 699,282 720,783 Commitments and Contingencies - - Shareholders'

View Full Filing

View this 10-Q filing on SEC EDGAR