UMH Properties, Inc. details 2024 distribution tax treatments for shareholders of common and preferred shares.
Quiver AI Summary
UMH Properties, Inc. announced the tax treatment for its 2024 distributions to shareholders, detailing the classifications for both common and preferred shares. For common shares, a total distribution of $0.850 per share was reported, with a portion classified as non-qualifying ordinary income and the majority as a return of capital. For the preferred shares, the total distribution was $1.59375 per share, classified entirely as non-qualifying ordinary income. The press release also included information on a dividend reinvestment plan, showing various discounts available for shares over the year. Shareholders are encouraged to consult their tax advisors regarding the specifics of their distributions. UMH Properties operates 139 manufactured home communities across various states.
Potential Positives
- UMH Properties, Inc. has provided detailed information regarding the tax treatment of its 2024 distributions, enhancing transparency for investors.
- The company highlights a consistent distribution structure for both common and preferred shares, reflecting stability and commitment to returning value to shareholders.
- Distributions of the 6.375% Series D Cumulative Redeemable Preferred shares are reported as 100% non-qualifying ordinary income, which may be favorable for certain investors.
- The implementation of a Dividend Reinvestment Plan with discounts on shares offers shareholders an attractive opportunity to reinvest their dividends efficiently.
Potential Negatives
- The distribution breakdown indicates a significant portion (approximately 80.37%) is reported as Return of Capital, which may signal issues with the company's earnings or profitability, potentially raising concerns among investors regarding the sustainability of future dividends.
- Classifying all amounts of the series D preferred dividends as Non-Qualifying Ordinary Income could limit tax advantages for investors, making the investment less attractive compared to similar securities.
FAQ
What is the tax treatment for UMH Properties' 2024 distributions?
UMH Properties has outlined the nature of cash distributions for common and preferred shares for income tax purposes in 2024.
How much was distributed to common shareholders in 2024?
A total of $0.850 per share was distributed to common shareholders during 2024.
What was the percentage of non-qualifying income for common shares?
The non-qualifying ordinary income for common shares was 19.629887% for each distribution in 2024.
What were the total distributions for Series D Preferred shares?
The total distribution for Series D Cumulative Redeemable Preferred shares was $1.593750 per share in 2024.
Is it advisable to consult tax advisors regarding distributions?
Yes, shareholders are encouraged to consult with their tax advisors for specific tax treatment of the distributions received.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UMH Insider Trading Activity
$UMH insiders have traded $UMH stock on the open market 6 times in the past 6 months. Of those trades, 1 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $UMH stock by insiders over the last 6 months:
- SAMUEL A LANDY (President and CEO) sold 50,000 shares for an estimated $977,500
- KIERNAN CONWAY has made 0 purchases and 2 sales selling 3,745 shares for an estimated $72,539.
- ANGELA D. PRUITT sold 2,800 shares for an estimated $53,928
- AMY LYNN BUTEWICZ sold 1,800 shares for an estimated $35,712
- JEFFREY A CARUS purchased 54 shares for an estimated $999
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$UMH Hedge Fund Activity
We have seen 121 institutional investors add shares of $UMH stock to their portfolio, and 77 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CAPITAL RESEARCH GLOBAL INVESTORS added 1,795,769 shares (+inf%) to their portfolio in Q3 2024, for an estimated $35,322,776
- BLACKROCK, INC. added 1,426,480 shares (+27.2%) to their portfolio in Q3 2024, for an estimated $28,058,861
- STATE STREET CORP added 863,089 shares (+44.5%) to their portfolio in Q3 2024, for an estimated $16,976,960
- AMERICAN CENTURY COMPANIES INC removed 600,129 shares (-20.5%) from their portfolio in Q3 2024, for an estimated $11,804,537
- BALYASNY ASSET MANAGEMENT L.P. added 534,344 shares (+inf%) to their portfolio in Q3 2024, for an estimated $10,510,546
- MARSHALL WACE, LLP added 495,598 shares (+344.6%) to their portfolio in Q3 2024, for an estimated $9,748,412
- NUVEEN ASSET MANAGEMENT, LLC added 301,035 shares (+32.3%) to their portfolio in Q3 2024, for an estimated $5,921,358
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
FREEHOLD, NJ, Jan. 22, 2025 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) today announced the tax treatment of its 2024 distributions. The following tables summarize, for income tax purposes, the nature of cash distributions paid to stockholders of UMH’s common and preferred shares during the calendar year ended December 31, 2024.
Common - CUSIP 903002103
| Shown as Dollars ($) | ||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long-Term Capital Gain (2a) |
Unrecaptured Sec. 1250 Gain
(2b) |
Return of Capital (3) | Section 199A Dividends (5) | ||||||
| 3/15/24 | $ | 0.205 | $ | 0.040241 | $ | 0.00 | $ | 0.00 | $ | 0.164759 | $ | 0.040241 |
| 6/17/24 | $ | 0.215 | $ | 0.042204 | $ | 0.00 | $ | 0.00 | $ | 0.172796 | $ | 0.042204 |
| 9/16/24 | $ | 0.215 | $ | 0.042204 | $ | 0.00 | $ | 0.00 | $ | 0.172796 | $ | 0.042204 |
| 12/16/24 | $ | 0.215 | $ | 0.042204 | $ | 0.00 | $ | 0.00 | $ | 0.172796 | $ | 0.042204 |
| TOTAL | $ | 0.850 | $ | 0.166853 | $ | 0.00 | $ | 0.00 | $ | 0.683147 | $ | 0.166853 |
| Shown as a Percentage (%) | ||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long-Term Capital Gain (2a) |
Unrecaptured Sec. 1250 Gain
(2b) |
Return of Capital (3) | Section 199A Dividends (5) | ||||||
| 3/15/24 | $ | 0.205 | 19.629887 | % | 0 | % | 0 | % | 80.370113 | % | 19.629887 | % |
| 6/17/24 | $ | 0.215 | 19.629887 | % | 0 | % | 0 | % | 80.370113 | % | 19.629887 | % |
| 9/16/24 | $ | 0.215 | 19.629887 | % | 0 | % | 0 | % | 80.370113 | % | 19.629887 | % |
| 12/16/24 | $ | 0.215 | 19.629887 | % | 0 | % | 0 | % | 80.370113 | % | 19.629887 | % |
| TOTAL | $ | 0.850 | 19.629887 | % | 0 | % | 0 | % | 80.370113 | % | 19.629887 | % |
6.375% Series D Cumulative Redeemable Preferred - CUSIP 903002509
| Shown as Dollars ($) | ||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long-Term Capital Gain (2a) |
Unrecaptured Sec. 1250 Gain
(2b) |
Return of Capital (3) | Section 199A Dividends (5) | ||||||
| 3/15/24 | $ | 0.3984375 | $ | 0.3984375 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.3984375 |
| 6/17/24 | $ | 0.3984375 | $ | 0.3984375 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.3984375 |
| 9/16/24 | $ | 0.3984375 | $ | 0.3984375 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.3984375 |
| 12/16/24 | $ | 0.3984375 | $ | 0.3984375 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.3984375 |
| TOTAL | $ | 1.593750 | $ | 1.593750 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1.593750 |
| Shown as a Percentage (%) | ||||||||||||
| Payment Date | Distributions Per Share | Non-Qualifying Ord. Income (1a) | Total Long-Term Capital Gain (2a) |
Unrecaptured Sec. 1250 Gain
(2b) |
Return of Capital (3) | Section 199A Dividends (5) | ||||||
| 3/15/24 | $ | 0.3984375 | 100 | % | 0 | % | 0 | % | 0 | % | 100 | % |
| 6/17/24 | $ | 0.3984375 | 100 | % | 0 | % | 0 | % | 0 | % | 100 | % |
| 9/16/24 | $ | 0.3984375 | 100 | % | 0 | % | 0 | % | 0 | % | 100 | % |
| 12/16/24 | $ | 0.3984375 | 100 | % | 0 | % | 0 | % | 0 | % | 100 | % |
| TOTAL | $ | 1.593750 | 100 | % | 0 | % | 0 | % | 0 | % | 100 | % |
NOTE: Section 199A Dividends (Box 5) is a subset of, and is included in, the Total Non-Qualifying Ordinary Income reported in Box 1a.
DIVIDEND REINVESTMENT PLAN DISCOUNTS
Common - CUSIP 903002103
| DISCOUNT DATE | FAIR MARKET VALUE ($) | DISCOUNT PRICE ($) | DISCOUNT ON D/R ($) | ||
| 1/16/2024 | 15.715 | 15.000 | 0.715 | ||
| 2/15/2024 | 14.455 | 13.750 | 0.705 | ||
| 3/15/2024 | 15.655 | 15.125 | 0.530 | ||
| 4/15/2024 | 15.385 | 14.875 | 0.510 | ||
| 5/15/2024 | 16.035 | 15.250 | 0.785 | ||
| 6/17/2024 | 15.400 | 14.750 | 0.650 | ||
| 7/15/2024 | 17.100 | 16.250 | 0.850 | ||
| 8/15/2024 | 19.465 | 18.500 | 0.965 | ||
| 9/16/2024 | 20.415 | 19.500 | 0.915 | ||
| 10/15/2024 | 18.865 | 18.000 | 0.865 | ||
| 11/15/2024 | 19.295 | 18.625 | 0.670 | ||
| 12/16/2024 | 19.390 | 18.500 | 0.890 |
Shareholders are encouraged to consult with their tax advisors as to the specific tax treatment of the distributions they received from the Company.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 139 manufactured home communities, containing approximately 26,200 developed homesites, of which 10,300 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 139 communities are two communities in Florida, containing 363 sites that UMH owns and operates through its joint venture with Nuveen Real Estate.
Contact: Nelli Madden
732-577-9997
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