FREEHOLD, NJ, Aug. 03, 2022 (GLOBE NEWSWIRE) — UMH Properties, Inc. (NYSE:UMH) reported Total Income for the quarter ended June 30, 2022 of $49.2 million as compared to $49.0 million for the quarter ended June 30, 2021, representing an increase of 7%. Net Loss Attributable to Common Shareholders amounted to $22.5 million or $0.41 per diluted share for the quarter ended June 30, 2022 as compared to Net Income of $8.4 million or $0.18 per diluted share for the quarter ended June 30, 2021. Normalized Funds from Operations Attributable to Common Shareholders (“Normalized FFO”), was $8.7 million or $0.16 per diluted share for the quarter ended June 30, 2022, as compared to $10.3 million or $0.22 per diluted share for the quarter ended June 30, 2021. These decreases were primarily due to carrying costs of the capital required to redeem all 9.9 million issued and outstanding shares of its 6.75% Series C Preferred Stock. The company also recognized a preferred share redemption charge of $8.2 million related to the original issuance costs.

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