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![UMH PROPERTIES, INC. [UMH-PD] reports annual net loss of $7.9 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FUMH-PD.png&w=1200&q=75)
UMH PROPERTIES, INC. [UMH-PD] has reported a net loss of $7.9 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $31.2 million
Based in FREEHOLD, New Jersey, UMH PROPERTIES, INC. operates in the FINANCE sector.
In the financial report for the period ending December 31, 2023, compared to the same period in 2022 and 2021, the following key figures were observed:
**Revenue**
- Rental and Related Income for the period reached $189.7 million in 2023, showing an increase from $170.4 million in 2022, and $159.0 million in 2021.
- Sales of Manufactured Homes generated $31.2 million in 2023, up from $25.3 million in 2022 but slightly lower than the $27.1 million recorded in 2021.
- Overall, Total Income for the period was $220.9 million in 2023, compared to $195.8 million in 2022 and $186.1 million in 2021.
**Expenses**
- Community Operating Expenses amounted to $81.3 million in 2023, higher than the $75.7 million reported in 2022 and $68.0 million in 2021.
- Cost of Sales of Manufactured Homes saw an increase to $21.1 million in 2023 from $17.6 million in 2022, while it was $20.1 million in 2021.
- Total Expenses for the period totaled $184.8 million in 2023, up from $166.3 million in 2022 and $152.2 million in 2021.
**Net Income (Loss)**
- The Net Income for 2023 was $7.9 million, marking a significant improvement from the Net Loss of $5.0 million in 2022 and the $51.1 million recorded in 2021.
**Earnings Per Share**
- The Earnings Per Share for Basic and Diluted calculations for 2023 stood at $(0.15), which is better than the $(0.67) in 2022 but lower than the $0.46 recorded in 2021.
Overall, while there have been fluctuations in revenue and expenses, the company managed to turn its previous losses into profits in 2023, indicating positive growth and financial improvement.