UMH Properties Q1 2024 FFO $0.22 Misses $0.23 Estimate, Sales $57.680M Beat $55.892M Estimate
Portfolio Pulse from Benzinga Newsdesk
UMH Properties reported Q1 2024 FFO of $0.22 per share, missing the estimate of $0.23 by 4.35%, but saw a 10% increase over the previous year. Sales reached $57.680M, exceeding estimates by 3.20% and marking a 9.64% increase from the previous year.
May 02, 2024 | 8:40 pm
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NEUTRAL IMPACT
UMH Properties reported a slight miss on FFO per share estimates but exceeded revenue expectations in Q1 2024, indicating a mixed financial performance.
The slight miss in FFO per share might concern some investors, potentially putting downward pressure on the stock. However, the beat on revenue estimates and the year-over-year growth in both FFO and sales could counterbalance this effect, suggesting a neutral short-term impact on UMH's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100