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UMH Properties
UMH Properties (UMH) investor relations material
UMH Properties Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Achieved strong operational and financial performance in 2025, with record home sales, portfolio growth, and increased occupancy, operating 145 manufactured home communities with 27,100 homesites across 12 states.
Rental portfolio expanded to 11,000 units, up 700 homes year-over-year, with high occupancy and plans for 700–800 more in the coming year.
Maintained a balanced rental and sales strategy, with rentals driving occupancy and sales providing upside.
Joint ventures with Nuveen Real Estate support accretive development while reducing capital needs.
Significant exposure to Marcellus and Utica Shale regions, driving increased demand for rental homes.
Financial highlights
Total income for 2025 rose 9% year-over-year to $261.8 million; rental and related income grew 10% to $226.7 million.
Normalized FFO for 2025 reached $80.1 million ($0.95 per diluted share), up 15% year-over-year; Q4 Normalized FFO was $20.5 million ($0.24 per share).
Community NOI increased 9% for the year; same-property NOI up 9%; same-property revenue grew 8.2%.
Gross home sales were $36.4 million for the year, up 9% from 2024; sales profitability was $4.4 million.
Annual dividend per share increased 25% over five years, reaching $0.90 in 2025; quarterly dividend raised by 4.7% to $0.225 per share.
Outlook and guidance
2026 Normalized FFO per share guidance: $0.97–$1.05, representing 2%–10% growth, assuming 5% rent increases and occupancy of 800 new rental units.
Plans to add 700–800 new rental homes, develop 300+ sites, and target high single-digit or low double-digit same property growth in 2026.
Capital needs for 2026 estimated at $120–$150 million for rental home purchases, notes, expansions, and improvements.
Majority of new rental home occupancy gains expected in Q2 and Q3 due to seasonality.
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Next UMH Properties earnings date
Q1 20261 May, 2026
UMH Properties
Next UMH Properties earnings date
Q1 20261 May, 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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