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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Investment Property and Equipment    
Land $ 87,478 $ 86,497
Site and Land Improvements 915,748 896,568
Buildings and Improvements 39,795 39,506
Rental Homes and Accessories 554,034 516,470
Total Investment Property 1,597,055 1,539,041
Equipment and Vehicles 30,759 29,126
Total Investment Property and Equipment 1,627,814 1,568,167
Accumulated Depreciation (456,795) (416,309)
Net Investment Property and Equipment 1,171,019 1,151,858
Other Assets    
Cash and Cash Equivalents 66,704 57,320
Marketable Securities at Fair Value 34,178 34,506
Inventory of Manufactured Homes 31,440 32,940
Notes and Other Receivables, net 88,367 81,071
Prepaid Expenses and Other Assets 17,138 11,729
Land Development Costs 65,965 33,302
Investment in Joint Venture 26,722 24,851
Total Other Assets 330,514 275,719
TOTAL ASSETS 1,501,533 1,427,577
LIABILITIES:    
Mortgages Payable, net of unamortized debt issuance costs 488,285 496,483
Other Liabilities:    
Accounts Payable 5,732 6,106
Loans Payable, net of unamortized debt issuance costs 25,968 93,479
Series A Bonds, net of unamortized debt issuance costs 100,691 100,055
Accrued Liabilities and Deposits 12,546 15,117
Tenant Security Deposits 9,926 9,543
Total Other Liabilities 154,863 224,300
Total Liabilities 643,148 720,783
Commitments and Contingencies
Shareholders’ Equity:    
Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 13,700 shares authorized as of September 30, 2024 and December 31, 2023; 12,271 and 11,607 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 306,778 290,180
Common Stock - $0.10 par value per share, 163,714 and 153,714 shares authorized as of September 30, 2024 and December 31, 2023, respectively; 78,697 and 67,978 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 7,870 6,798
Excess Stock - $0.10 par value per share, 3,000 shares authorized; no shares issued or outstanding as of September 30, 2024 and December 31, 2023 0 0
Additional Paid-In Capital 567,178 433,106
Accumulated Deficit (25,364) (25,364)
Total UMH Properties, Inc. Shareholders’ Equity 856,462 704,720
Non-Controlling Interest in Consolidated Subsidiaries 1,923 2,074
Total Shareholders’ Equity 858,385 706,794
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,501,533 $ 1,427,577