UMH Properties Says Current Inventory Sits At Approximately 700 Homes, Which Is Still Above Its Normal Levels
Portfolio Pulse from Benzinga Newsdesk
UMH Properties reports that its current inventory is approximately 700 homes, which is above its normal levels. During the quarter, around 400 rental homes in inventory were occupied, making them income producing, and 44 new homes were sold, creating additional site rent. This led to a year-over-year same property income growth of about 8.6% and a 190-basis point improvement in occupancy.
July 05, 2023 | 8:19 pm
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UMH Properties' higher than normal inventory levels, increased occupancy, and new home sales have contributed to a significant increase in income and improved occupancy rates.
UMH Properties' current inventory is above normal levels, which could be seen as a potential risk. However, the company has managed to occupy approximately 400 rental homes and sell 44 new homes during the quarter. This has resulted in income growth and improved occupancy, which are positive indicators for the company's performance and could potentially lead to a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100