UMH
UMH Properties, Inc.16.14
+0.18+1.13%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
1.38BP/E (TTM)
201.75Basic EPS (TTM)
0.08Dividend Yield
0.06%Recent Filings
8-K
Expands Fannie Mae facility
UMH Properties closed the addition of seven manufactured home communities with 1,765 sites to its Fannie Mae credit facility on November 25, 2025, securing $91.8 million at a fixed 5.46% rate over nine years. Proceeds fund acquisitions, expansions, rental homes, and short-term repayment of higher-rate debt, boosting total facility to $398.3 million. Appraisals show $71.9 million value gain over $73.2 million cost. Capital fuels growth.
8-K
Q3 income up 10%
UMH Properties posted Q3 total income of $66.9M, up 10% from $60.7M last year, with Normalized FFO at $21.3M or $0.25 per diluted share, edging up 4%. Same-property NOI surged 12.1% on 9.4% rental income growth and occupancy to 88.5%. Acquisitions added two Maryland communities for $14.6M. Growth persists.
10-Q
Q3 FY2025 results
UMH Properties posted solid Q3 momentum, with rental income up 11% y/y to $57.8M and total revenue climbing 10% y/y to $66.9M, fueled by acquisitions and 110bp same-property occupancy gains to 88.5%. Community NOI rose 11% y/y to $32.8M, yet net income to common shareholders dipped to $4.2M ($0.05/share) from $8.2M ($0.11/share), dragged by higher interest expense after issuing $80.2M Series B bonds at 5.85% due 2030. Operating cash flow hit $60.6M YTD, topping capex for positive FCF; cash sits at $34.1M with $260M revolver capacity. Acquired four communities for $40.2M in Q1-Q3. Debt covenants met. Competition heats up in key markets.
8-K
UMH appoints new director
UMH Properties appointed Todd J. Clark, Dean of Widener University Delaware Law School, as a Class I Director on September 17, 2025, filling a board vacancy through 2028. Clark brings expertise in corporate justice, employment law, and governance, bolstered by his JD from the University of Pittsburgh and MBA from West Virginia University. He receives standard director pay: $60,500 cash and $75,000 in equity annually. This addition strengthens oversight amid the REIT's expansion.
10-Q
Q2 FY2025 results
UMH Properties posted solid Q2 results, with total income climbing 10% year-over-year to $66.6 million, fueled by 9% rental growth to $56.2 million from higher rates and occupancy edging up to 88.2%. Home sales revenue rose 19% to $10.5 million despite fewer units sold, though gross margins dipped to 32% amid pricier inventory. Community NOI surged 11% to $33.1 million, while operating cash flow held steady at $37.2 million year-to-date; free cash flow wasn't disclosed in the 10-Q. Acquisitions added two New Jersey communities for $24.6 million in March, boosting sites by 266 at full occupancy, with cash at $79.2 million and $260 million available on the credit line. Mortgages payable grew 9% to $530.2 million at 4.56% weighted average. Yet competition in key markets like New Jersey and New York could pressure occupancy gains.
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