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UMH Properties (UMH) investor relations material
UMH Properties Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Operates 145 manufactured home communities with 27,000 developed homesites and 10,800 rental homes as of September 30, 2025, with occupancy rates around 94% and significant expansion capacity.
Achieved strong growth in rental and related income, community NOI, and normalized FFO in Q3 2025, with normalized FFO per diluted share rising 4% year-over-year to $0.25 and 9% sequentially.
Strategic investments in acquisitions, expansions, and inventory exceeded $100 million, supporting future growth and value creation.
Maintains a long-term track record of profitability, dividend growth, and value creation through acquisitions, expansions, and greenfield development.
Joint ventures and new community acquisitions are expected to drive further earnings and occupancy increases.
Financial highlights
Q3 2025 total revenue was $66.9 million, up 10% year-over-year; rental and related income rose 11% to $57.8 million.
Community NOI increased 11% for Q3 and 10% year-to-date; same property NOI rose 12% for the quarter and 10% year-to-date.
Gross sales of manufactured homes for Q3 were $9.1 million, up 5% year-over-year; including joint venture sales, total sales rose 14%.
Net income attributable to common shareholders was $4.2 million for Q3 2025 ($0.05 per share) and $6.5 million for the nine months ($0.08 per share).
Over the past five years, total revenue grew 59%, community NOI 79%, normalized FFO 176%, and annual dividend per share 25%.
Outlook and guidance
2025 normalized FFO per share guidance: $0.96–$1.04, assuming 5% rent increases and occupancy of 800 new rental units.
On track to surpass $250 million in total income for 2025, with capital needs estimated at $120–$150 million for rental home purchases, expansions, and improvements.
Anticipates 5% annual rent increase, generating $11 million in new revenue, and installation of 700-800 new rental homes by year-end.
Expects continued growth in FFO per share and share price, supported by organic growth and capital investments.
Sales pipeline remains strong, with expectations to beat last year’s sales record despite typical Q4 seasonality.
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Next UMH Properties earnings date
Q4 202526 Feb, 2026
Next UMH Properties earnings date
Q4 202526 Feb, 2026
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Frequently asked questions
UMH Properties, Inc. is a real estate investment trust (REIT) specializing in the ownership and operation of manufactured home communities. The company provides affordable housing options by leasing homesites and offering manufactured homes for sale or rent. UMH Properties' portfolio includes communities in several states across the Northeast, Midwest, and Southeast United States, catering to a diverse customer base seeking cost-effective residential solutions. The company is headquartered in Freehold, New Jersey, and its shares are listed on the NYSE.
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