UMH Properties, Inc. has recently announced a 4.7% increase in its quarterly common stock dividend. The dividend will rise to $0.225 per share from $0.215 per share, with a payable date of June 16, 2025, for shareholders of record at the close of business on May 15, 2025. This represents an annual dividend rate of $0.90 per share.
The company's President and CEO, Samuel A. Landy, noted that this marks the fifth consecutive annual increase of the common stock dividend. He also highlighted that revenue growth is meeting expectations and that the company expects community expansions and new community construction to further increase profits.
UMH Properties, Inc. is a public equity REIT that owns and operates 141 manufactured home communities, with approximately 26,500 developed homesites, including 10,300 rental homes, and over 1,000 self-storage units. These communities are located across multiple states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia. Additionally, the company has joint venture interests in two communities in Florida, totaling 363 sites, operated through its partnership with Nuveen Real Estate.
The company's strong balance sheet positions it well for internal growth and potential future acquisitions. As a result of these announcements, the company's shares have moved 0.5% on the market, and are now trading at a price of $18.79. For the full picture, make sure to review UMH Properties's 8-K report.
