UMH Properties, Inc.
- Open
- 15.23
- Day high
- 15.39
- Day low
- 15.20
- Prev close
- 15.14
- Volume
- 174K
- Mkt cap
- $1.3B
- P/E (TTM)
- 147.2
- EPS (TTM)
- $0.10
- P/B
- 1.5
- P/S
- 4.9
- Yield
- 2.93%
- Per share
- $0.45
- ▲Insiders net buying $995 over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions mixed (13F)
UMH Properties, Inc. (UMH) is a Real Estate company listed on NYSE. The stock is down 11% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
UMH Properties, Inc. (UMH) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
UMH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $0.02 | $0.23 | +1050.0% | $66M | +10.9% |
| Feb 26, 2026 | $0.24 | $-0.19 | -180.2% | $67M | -1.6% |
| May 1, 2025 | $0.23 | $0.23 | +0.0% | $61M | -6.4% |
| Feb 26, 2025 | $0.03 | $0.24 | +700.0% | $241M | +302.7% |
| May 2, 2024 | $0.22 | $0.22 | +0.0% | $58M | -0.7% |
| Feb 28, 2024 | $0.21 | $0.23 | +9.5% | $57M | +0.0% |
| Feb 28, 2023 | $0.21 | $0.20 | -4.8% | $49M | -0.2% |
| Aug 3, 2022 | $0.19 | $0.16 | -15.8% | $49M | +2.6% |
| May 4, 2022 | $0.21 | $0.17 | -19.0% | $46M | +1.4% |
| Feb 24, 2022 | $0.02 | $0.22 | +1233.3% | $46M | -3.7% |
| Nov 3, 2021 | $0.22 | $0.23 | +4.5% | $48M | +19.2% |
| Aug 4, 2021 | $0.22 | $0.22 | +0.0% | $49M | +24.4% |
UMH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 17, 2026 | Miller Kevin S.officer: EVP, CFO, Treasurer | Buy | 68 | $14.63 |
| Jun 11, 2026 | Levy Stuartdirector | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | Clark Todd J.director | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | PRUITT ANGELA D.director | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | QUIGLEY KENNETH K JRdirector | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | Mitchell William Edwarddirector | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | Carus Jeffrey Adirector | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | HIRSCH MATTHEW Idirector | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | LANDY MICHAEL Pdirector | Grant | 1,284 | $15.34 |
| Jun 11, 2026 | BUTEWICZ AMY LYNNdirector | Grant | 1,284 | $15.34 |
| Mar 27, 2026 | HIRSCH MATTHEW Idirector | Buy | 500 | $14.48 |
| Mar 26, 2026 | HIRSCH MATTHEW Idirector | Grant | 1,381 | $14.26 |
| Mar 26, 2026 | PRUITT ANGELA D.director | Grant | 1,381 | $14.26 |
| Mar 26, 2026 | Mitchell William Edwarddirector | Grant | 1,381 | $14.26 |
| Mar 26, 2026 | LANDY MICHAEL Pdirector | Grant | 1,381 | $14.26 |
Source: UMH SEC Form 4 filings, latest Jun 17, 2026. For informational purposes only — not investment advice.
See the full UMH insider & 13F page →UMH Properties, Inc. company profile
Overview
UMH Properties, Inc. (NYSE:UMH) is a publicly traded real estate investment trust (REIT) that has been operating since 1968 and went public in 1985. The company specializes in owning and operating manufactured home communities, also known as mobile home parks, across eight states in the eastern United States. With over five decades of experience in the manufactured housing sector, UMH has grown to become one of the prominent players in providing affordable housing solutions through its portfolio of 124 communities containing approximately 23,400 developed homesites.
Business
UMH Properties operates in the manufactured housing community sector, which serves as a critical component of America's affordable housing market. The company's core business revolves around owning and operating manufactured home communities - essentially residential parks where manufactured homes (also called mobile homes or trailers) are placed on rented lots. The manufactured housing industry provides an important housing option for Americans seeking affordable homeownership or rental alternatives. Unlike traditional site-built homes, manufactured homes are built in factories according to federal construction standards and then transported to communities like those owned by UMH. These homes can either be owned by residents who rent the underlying land, or owned by UMH and rented to tenants. UMH's business consists of several key segments: 1. **Community Operations (Primary Revenue Driver - ~85% of revenue)**: UMH owns 124 manufactured home communities across New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, and Maryland. These communities generate rental income from approximately 23,400 developed homesites. The company collects monthly rent from residents for the land their homes sit on, along with fees for utilities, amenities, and services. 2. **Rental Home Program**: UMH owns approximately 10,300 manufactured homes that it rents directly to tenants at a 94% occupancy rate. This program has been a major growth driver, with the company targeting to add 800 new rental homes annually. 3. **Home Sales**: The company sells both new and used manufactured homes to residents within its communities, generating sales revenue and margins. This segment typically represents 10-15% of total revenue. 4. **REIT Securities Portfolio**: UMH maintains a smaller investment portfolio of other REIT securities as part of its overall investment strategy. The company's communities are strategically located in markets with strong employment bases and limited land availability for new development, primarily serving households with annual incomes between $40,000-$80,000 who seek affordable housing alternatives.
Competitive moat
UMH Properties possesses a moderate economic moat built primarily on land scarcity and regulatory barriers rather than technological or brand advantages. The company's strongest competitive advantage stems from owning irreplaceable land assets in markets where new manufactured home community development faces significant zoning restrictions and local opposition. Many municipalities actively discourage or prohibit new manufactured housing communities, making existing communities increasingly valuable as grandfathered assets. The company benefits from high switching costs for residents, as relocating a manufactured home is expensive and logistically complex, often costing $10,000-$15,000. This creates natural resident retention and pricing power for annual rent increases. Additionally, UMH's scale across 124 communities provides operational efficiencies in management, purchasing, and regulatory compliance that smaller operators cannot match. However, UMH's moat has notable limitations. The company faces potential disruption from several sources: traditional apartment developments in suburban markets could provide competitive affordable housing options; government-subsidized housing programs might offer alternatives; and economic downturns significantly impact the moderate-income demographic that comprises UMH's customer base. The manufactured housing industry also carries social stigma that limits its appeal compared to traditional housing options. The regulatory environment presents both protection and risk - while zoning restrictions limit new competition, they also constrain UMH's own expansion opportunities. Changes in local regulations, property tax assessments, or federal manufactured housing standards could impact profitability. The company's moat is strongest in markets with severe housing shortages and weakest in areas with abundant developable land or economic decline.
Risks & safety
UMH Properties demonstrates a **moderate margin of safety** with strong liquidity but elevated valuation metrics. **Liquidity and Solvency:** - Strong cash position of $35.2 million with minimal cash burn risk - Excellent current ratio of 10.8x indicating strong short-term liquidity - Debt-to-equity ratio of 0.66x represents manageable leverage for a REIT - Positive free cash flow of $81.6 million annually provides financial flexibility - No immediate solvency concerns given steady rental income streams **Valuation Concerns:** - High P/E ratio of 79.3x suggests significant valuation premium - EV/EBITDA of 19.3x appears elevated for a REIT - Price-to-book ratio of 1.69x indicates trading above net asset value - Graham number of 3.83 suggests potential overvaluation relative to intrinsic value metrics **Other Considerations:** - REIT structure provides tax advantages and mandates dividend distributions - Recurring rental income provides more predictable cash flows than cyclical businesses - Interest rate sensitivity affects both refinancing costs and property valuations - Demographic trends toward affordable housing support long-term demand
Recent development
Over the past few years, UMH Properties has executed a strategic transformation focused on aggressive growth through its rental home program and community expansion. The company has shifted from primarily being a land lessor to becoming a comprehensive housing provider, with plans to add 800 rental homes annually. This strategy capitalizes on strong demand for affordable housing while generating higher per-site revenues. The company has pursued aggressive acquisition activity, completing purchases of multiple communities and having four additional communities under contract representing 457 sites. UMH raised $107 million through its at-the-market equity program to fund these acquisitions and rental home purchases, demonstrating access to capital markets for growth financing. Operational improvements have been significant, with same-property occupancy increasing by 216 units in 2024 and same-property NOI growing 10% annually. The company has successfully implemented consistent 5% annual rent increases while maintaining high occupancy rates, indicating strong pricing power in its markets. UMH has also begun exploring innovative housing solutions, including solar shingle technology to reduce tenant utility costs and duplex home designs to increase site density. The company is investigating joint venture opportunities for land development, particularly a 131-acre project in Vineland, New Jersey that could yield 150 additional lots. The company has strengthened its financial position by expanding its borrowing capacity to $260 million and maintaining a conservative balance sheet with net debt representing only 20.8% of total market capitalization. Management has increased the dividend annually, most recently raising it to $0.90 per share, reflecting confidence in cash flow generation.
UMH company profile · for informational purposes only — not investment advice.
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