UMH PROPERTIES INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
UMH$14.92-1.4%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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PART I - FINANCIAL INFORMATION Financial Statements Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023
| September 30, 2024 (Unaudited) | December 31, 2023 | |
|---|---|---|
| - ASSETS - | ||
| Investment Property and Equipment | ||
| Land | $87,478 | $86,497 |
| Site and Land Improvements | 915,748 | 896,568 |
| Buildings and Improvements | 39,795 | 39,506 |
| Rental Homes and Accessories | 554,034 | 516,470 |
| Total Investment Property | 1,597,055 | 1,539,041 |
| Equipment and Vehicles | 30,759 | 29,126 |
| Total Investment Property and Equipment | 1,627,814 | 1,568,167 |
| Accumulated Depreciation | (456,795) | (416,309) |
| Net Investment Property and Equipment | 1,171,019 | 1,151,858 |
| Other Assets | ||
| Cash and Cash Equivalents | 66,704 | 57,320 |
| Marketable Securities at Fair Value | 34,178 | 34,506 |
| Inventory of Manufactured Homes | 31,440 | 32,940 |
| Notes and Other Receivables, net | 88,367 | 81,071 |
| Prepaid Expenses and Other Assets | 17,138 | 11,729 |
| Land Development Costs | 65,965 | 33,302 |
| Investment in Joint Venture | 26,722 | 24,851 |
| Total Other Assets | 330,514 | 275,719 |
| TOTAL ASSETS | $1,501,533 | $1,427,577 |
CONSOLIDATED BALANCE SHEETS – CONTINUED
AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023
| September 30, 2024 (Unaudited) | December 31, 2023 | |
|---|---|---|
| - LIABILITIES AND SHAREHOLDERS’ EQUITY - | ||
| LIABILITIES: | ||
| Mortgages Payable, net of unamortized debt issuance costs | $488,285 | $496,483 |
| Other Liabilities: | ||
| Accounts Payable | 5,732 | 6,106 |
| Loans Payable, net of unamortized debt issuance costs | 25,968 | 93,479 |
| Series A Bonds, net of unamortized debt issuance costs | 100,691 | 100,055 |
| Accrued Liabilities and Deposits | 12,546 | 15,117 |
| Tenant Security Deposits | 9,926 | 9,543 |
| Total Other Liabilities | 154,863 | 224,300 |
| Total Liabilities | 643,148 | 720,783 |
| Commitments and Contingencies | - | - |
| Shareholders’ Equity: | ||
| Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 13,700 shares authorized as of September 30, 2024 and December 31, 2023; 12,271 and 11,607 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 306,778 | 290,180 |
| Common Stock - $0.10 par value per share, 163,714 and 153,714 shares authorized as of September 30, 2024 and December 31, 2023, respectively; 78,697 and 67,978 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 7,870 | 6,798 |
| Excess Stock - $0.10 par value per share, 3,000 shares authorized; no shares issued or outstanding as of September 30, 2024 and December 31, 2023 | 0 | 0 |
| Additional Paid-In Capital | 567,178 | 433,106 |
| Accumulated Deficit | (25,364) | (25,364) |
| Total UMH Properties, Inc. Shareholders’ Equity | 856,462 | 704,720 |
| Non-Controlling Interest in Consolidated Subsidiaries | 1,923 | 2,074 |
| Total Shareholders’ Equity | 858,385 | 706,794 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $1,501,533 | $1,427,577 |
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