UMH: 3Q Earnings Snapshot
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FREEHOLD, N.J. (AP) _ UMH Properties Inc. (UMH) on Thursday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The Freehold, New Jersey-based real estate investment trust said it had funds from operations of $7.1 million, or 19 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 19 cents per share.
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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 a loss of $11.5 million, or 31 cents per share.
The real estate investment trust posted revenue of $33.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $32.2 million.
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The company's shares have declined slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.24, a decline of roughly 5 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on UMH at https://www.zacks.com/ap/UMH