Attached files
| file | filename |
|---|---|
| EX-32 - UMH PROPERTIES, INC. | ex32.htm |
| EX-31.2 - UMH PROPERTIES, INC. | ex31-2.htm |
| EX-31.1 - UMH PROPERTIES, INC. | ex31-1.htm |
| EX-23 - UMH PROPERTIES, INC. | ex23.htm |
| EX-21 - UMH PROPERTIES, INC. | ex21.htm |
| 10-K - UMH PROPERTIES, INC. | form10-k.htm |
Exhibit 12
| UMH Properties, Inc. | ||||||||||||||||||||
| Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | ||||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Pretax income | $ | 12,913,034 | $ | 11,839,559 | $ | 2,459,205 | $ | 4,552,803 | $ | 6,135,823 | ||||||||||
| Fixed charges | 16,377,831 | 15,792,270 | 14,352,390 | 10,997,076 | 8,559,583 | |||||||||||||||
| Interest capitalized | (500,859 | ) | (359,906 | ) | (277,944 | ) | (280,354 | ) | (247,386 | ) | ||||||||||
| Earnings | $ | 28,790,006 | $ | 27,271,923 | $ | 16,533,651 | $ | 15,269,525 | $ | 14,448,020 | ||||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest expense | $ | 15,216,068 | $ | 14,698,878 | $ | 13,245,429 | $ | 10,194,472 | $ | 7,849,835 | ||||||||||
| Interest capitalized | 500,859 | 359,906 | 277,944 | 280,354 | 247,386 | |||||||||||||||
| Amortization of debt costs | 660,904 | 733,486 | 829,017 | 522,250 | 462,362 | |||||||||||||||
| Fixed Charges | $ | 16,377,831 | $ | 15,792,270 | $ | 14,352,390 | $ | 10,997,076 | $ | 8,559,583 | ||||||||||
| Ratio of Earnings to Fixed Charges | 1.76 | 1.73 | 1.15 | 1.39 | 1.69 | |||||||||||||||
| Preferred Stock Dividends | $ | 16,844,812 | $ | 14,103,432 | $ | 8,267,198 | $ | 7,556,588 | $ | 7,556,588 | ||||||||||
| Combined Fixed Charges and | ||||||||||||||||||||
| Preferred Stock Dividends | $ | 33,222,643 | $ | 29,895,702 | $ | 22,619,588 | $ | 18,553,664 | $ | 16,116,171 | ||||||||||
| Ratio of Earnings to Combined | ||||||||||||||||||||
| Fixed Charges and Preferred | ||||||||||||||||||||
| Stock Dividends | 0.87 | 0.91 | 0.73 | 0.82 | 0.90 | |||||||||||||||
| Coverage deficiency | $ | 4,432,637 | $ | 2,623,779 | $ | 6,085,937 | $ | 3,284,139 | $ | 1,668,151 | ||||||||||