UMH: 2Q Earnings Snapshot
FREEHOLD, N.J. (AP) _ UMH Properties Inc. (UMH) on Tuesday reported a key measure of profitability in its second quarter.
The Freehold, New Jersey-based real estate investment trust said it had funds from operations of $6.2 million, or 16 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $14.9 million, or 40 cents per share.
The real estate investment trust posted revenue of $32.1 million in the period.
The company’s shares have climbed 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.52, a decline of 4 percent in the last 12 months.