UMH Properties Q3 income misses estimates

Reuters11-04
<a href="https://laohu8.com/S/UMH">UMH Properties</a> Q3 income misses estimates

Overview

  • UMH Properties 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/Miss

Actual

Consensus Estimate

Q3 Total Income

Miss

$66.91 mln

$68.80 mln (3 Analysts)

Q3 Net Income

$4.21 mln

Q3 Adjusted FFO

$21.31 mln

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 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: ID:nGNXM1tV2

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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.)

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