Financial Highlights
2020 FQ1 YTD
3/31/2020
2019 FY
12/31/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
Balance Sheet ($000)
Gross Depreciable Property 1,056,199 1,040,326 900,248 781,313 655,203
Net Property Investment 813,544 807,543 703,039 614,869 514,947
Senior Secured Debt 381,097 392,958 347,021 307,134 299,340
Senior Unsecured Debt 34,923 64,386 92,057 82,465 51,971
Total Debt 419,920 461,244 439,078 389,600 351,311
Total Liabilities 439,094 479,114 456,204 402,666 363,413
Equity Attributable to Parent Company 560,081 546,339 424,698 421,215 317,032
Total Equity 560,081 546,339 424,698 421,215 317,032
Market Capitalization($M) 447.10 647 453.70 528.80 442.30
Implied Market Cap($M) 447.10 647 453.70 528.80 442.30
Total Capitalization($M) 1,336 1,513.30 1,181.60 1,157.20 980.20
Total Enterprise Value($M) 1,321.40 1,500.40 1,174.10 1,133.90 976
Total Enterprise Value Plus JV Debt($M) 1,321.40 1,500.40 1,174.10 1,133.90 976
Income Statement ($000)
Rental Revenue 34,358 128,611 113,833 101,801 90,680
Rental Net Operating Income 18,850 67,457 60,884 53,954 48,042
NOI 18,567 67,420 61,148 53,234 47,257
Gain on Sale of Real Estate (107) (111) (131) (81) (2)
Interest Expense 4,425 17,805 16,039 15,877 15,427
Revenue 40,196 157,333 142,640 125,242 110,225
Expense 74,837 129,472 178,723 112,494 98,687
Net Income (34,748) 27,750 (36,216) 12,668 11,535
Net Income Attributable to Parent (34,748) 27,750 (36,216) 12,668 11,535
Net Income Avail to Common (42,838) 2,566 (56,532) (7,679) (2,569)
FFO 6,089 24,573 26,965 23,462 20,732
Operating Funds from Operations, as Reported 6,089 25,207 27,471 21,714 18,446
Modified FFO NA NA NA NA NA
Financial Analysis
ROAA(%) (13.73) 2.94 (4.26) 1.68 1.78
ROAE(%) (25.12) 5.59 (8.11) 3.45 4
Implied Capitalization Rate(%) 6.02 6 6.13 5.87 6.99
Dividend Payout Ratio(%) NM NM NM NM NM
Dividend Yield(%) 6.63 4.58 6.08 4.83 4.78
FFO Payout(%) 120 118.03 100 120 98.63
FFO/ Total Revenue(%) 15.15 15.62 18.90 18.73 18.81
Price/ LTM FFO(x) 18.10 25.79 16.44 24.83 20.62
Price/ Last-twelve-months EPS(x) NM 262.17 NM NM NM
Recurring EBITDA/ Interest Expense(x) (4.52) 4.66 0.73 3.54 3.25
Recurring EBITDA/ Interest Expense + Pref. Div.(x) (1.60) 1.93 0.32 1.72 1.70
Debt and Preferred/ TEV(%) 67.27 57.74 61.99 55.42 55.12
Total Debt/ Gross Properties(%) 39.76 44.34 48.77 49.86 53.62
Credit Lines Drawn/ Available(%) 20.59 37.38 61.61 46.60 41.24
Changes and Trends (%)
FFO Growth (0.03) (8.87) 14.93 13.17 45.31
FFO/Share Growth (6.30) (15.30) 20 (17.80) 49
EPS Growth, before Extraordinary NM NM NM NM NM
Real Estate Investment Growth 2.47 15.17 14.69 19.81 8.41
Per Share Information ($)
Common Shares Outstanding 41,166,000 41,130,000 38,320,414 35,488,068 29,388,811
Closing Price 10.86 15.73 11.84 14.90 15.05
Basic EPS before Extra (1.04) 0.07 (1.53) (0.24) (0.10)
Diluted EPS before Extra (1.04) 0.06 (1.53) (0.24) (0.10)
FFO/ Share 0.15 0.61 0.72 0.60 0.73
Operating FFO per Share, as Reported 0.15 0.63 0.74 0.66 0.66
Modified FFO per Share NA NA NA NA NA
Common Dividends Declared per Share 0.18 0.72 0.72 0.72 0.72
NAV per Share, as Reported NA NA NA NA NA
Debt Maturity Schedule ($000)
Debt Maturing: Current FY 27,931 67,655 22,132 39,413 72,702
Debt Maturing: Next FY 2,284 2,759 15,955 6,603 9,173
Debt Maturing: FY2 35,497 35,364 2,536 51,144 6,890
Debt Maturing: FY3 66,735 67,142 71,551 2,194 12,526
Debt Maturing: FY4 609 115 61,796 20,904 2,229
Debt Maturing: Thereafter 286,503 288,054 268,860 272,967 251,437
Principal Payments Schedule ($000)
Debt Due this Fiscal Year NA 76,179 40,908 9,521 56,472
Debt Due during Next Fiscal Year NA 23,916 11,523 24,926 14,956
Debt Due during Second Fiscal Year NA 30,663 22,384 46,080 19,931
Debt Due during Third Fiscal Year NA 68,829 65,026 21,630 10,025
Debt Due during Fourth Fiscal Year NA 7,504 61,743 13,295 20,533
Debt Due Thereafter NA 253,998 241,245 277,776 233,040
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.

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Market Summary

Trading Symbol:

UMH

Exchange:

NYSE

Market Cap $ M: 500.22
Price $ 12.15
Change: $ 0.26 2.19%
Volume: 159,323
As of May 22, 2020 Close
Minimum 20 minute delay.