UMH PROPERTIES, INC. FOURTH QUARTER AND FULL YEAR 2024 OPERATIONS UPDATE

Core Viewpoint - UMH Properties, Inc. has reported strong operational results for Q4 and full year 2024, highlighting a consistent increase in dividends and plans for future revenue growth through rent increases and new home investments [1][4]. Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, owning and operating 139 manufactured home communities with approximately 26,200 developed homesites, including 10,300 rental homes and over 1,000 self-storage units across multiple states [2]. Financial Performance - As of year-end 2024, UMH achieved an equity market capitalization exceeding $1.5 billion, with a share price increase from$15.25 to $18.88, representing a 24$8.4 million, up 9% from $7.7 million the previous year. For the full year, gross home sales revenue reached$32.6 million, a 4% increase from $31.2 million [4]. - Overall occupancy increased by 280 units to 88$210 million in annual rental revenue [4]. Capital Raising Activities - In Q4 2024, UMH issued and sold approximately 3.1 million shares of common stock at a weighted average price of $19.04, generating gross proceeds of$58.5 million. For the full year, approximately 12.5 million shares were sold at a weighted average price of $17.92, raising gross proceeds of$224.5 million [4].