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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