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UMH Properties Q2 FFO $0.25, Inline, Sales $71.640M Beat $69.959M Estimate

BenzingaBenzinga Newsdesk

UMH Properties (NYSE:UMH) reported quarterly earnings of $0.25 per share which met the analyst consensus estimate. This is a 8.7 percent increase over earnings of $0.23 per share from the same period last year. The

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    UMH PROPERTIES, INC. SECURES NEW FANNIE MAE MORTGAGE

    UMH Properties secured a new $10.2 million Fannie Mae mortgage at 6.03% fixed rate for a 267-site community through Wells Fargo. After paying off a $2.8 million existing mortgage, the company generated $7.4 million in additional proceeds to deploy toward acquisitions, expansions, rental homes, and debt repayment. The community has been improved from 69% to 95% occupancy since acquisition in 2014.