UMH PROPERTIES, INC. FOURTH QUARTER AND FULL YEAR 2025 OPERATIONS UPDATE

Rhea-AI Summary

UMH Properties (NYSE: UMH) provided a fourth quarter and full year 2025 operations update highlighting portfolio growth, capital activity and preliminary operating results.

Key metrics: 170 homes added and rented in Q4 and 717 for 2025; owns ~11,000 rental homes with 93.8% occupancy; Same Property occupancy at 88.3% (+354 units YoY). Q4 gross home sales were $9.2M (+7% YoY) and full-year sales $36.3M (+8% YoY). Rental and Related Income: Q4 $57.7M (+8% YoY); year $226.2M (+9% YoY).

Corporate actions: acquired one community in Q4 for $2.6M and five communities in 2025 for $41.8M; issued ~$80.2M of 5.85% Series B bonds due 2030; refinanced 17 communities for $193.2M at a 5.67% weighted rate; repurchased 300,000 shares for $4.5M. Final results due Feb 25, 2026; earnings call Feb 26, 2026.

Positive

• Refinancing proceeds of $193.2M at a weighted rate of 5.67%
• Issued ~$80.2M of 5.85% Series B bonds due 2030
• Acquired 5 communities in 2025 for $41.8M (587 developed homesites)
• Inventory of 140 homes ready and 330 homes being set up to drive Q1 2026 occupancy

Negative

• Q4 acquisition in Albany, GA is only 32% occupied, indicating near-term leasing work required
• Financial figures are preliminary and may vary from final results to be released Feb 25, 2026

Key Figures

Q4 gross home sales $9.2M Quarterly gross home sales vs $8.6M prior year (+7%)

2025 gross home sales $36.3M Full-year gross sales vs $33.5M prior year (+8%)

Q4 rental & related income $57.7M Quarterly rental and related income vs $53.3M (+8%)

2025 rental & related income $226.2M Full-year rental and related income vs $207.0M (+9%)

Same property Q4 rental income $56.2M Same Property rental and related income vs $52.6M (+7%)

Series B bonds issued $80.2M at 5.85% Series B Bonds due 2030 issued to investors in Israel

Refinancing proceeds $193.2M at 5.67% Proceeds from refinancing 17 communities

Share repurchase 300,000 shares at $14.97 Common Stock Repurchase Program, total cost $4.5M

Market Reality Check

$15.92 Last Close

Volume Volume 475,940 vs 20-day average 618,671 (relative volume 0.77) shows subdued trading ahead of the update. normal

Technical Price $15.90 is trading below the 200-day MA of $16.14 and about 16.93% under the 52-week high.

Peers on Argus

UMH slipped 0.06% with mixed residential REIT peers: AIV -0.67%, NXRT -1.70%, ELME +0.69%, CSR +0.50%, VRE +0.13%, indicating stock-specific trading rather than a clear sector trend.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 25	Credit facility expansion	Positive	+0.5%	Added seven communities to Fannie Mae facility, unlocking $91.8M at 5.46%.
Nov 03	Q3 2025 earnings	Positive	-0.9%	Reported income and FFO growth with expanded investments and bond issuance.
Oct 07	Georgia acquisition	Positive	+0.3%	Acquired Albany Dunes community, strengthening Georgia footprint and YTD acquisitions.
Oct 01	Q3 ops update	Positive	-1.0%	Operations update showed rental growth, higher occupancy, sales and acquisitions.
Oct 01	Dividend declaration	Positive	-1.0%	Maintained common and preferred dividends with stable community footprint metrics.

Pattern Detected

Recent history shows positive operational and financing news sometimes met with negative one-day price reactions, suggesting a tendency toward short-term sell-the-news behavior.

Recent Company History

Over the last few months, UMH has focused on balance sheet optimization, community expansion, and operational growth. On Nov 3, 2025, Q3 results showed income and FFO growth alongside active capital markets activity. Subsequent updates highlighted acquisitions, Fannie Mae facility expansion, and increased same-property occupancy. The latest 2025 operations update, with higher rental income, sales growth and refinancing gains, extends this pattern of steady portfolio expansion and leverage management.

Market Pulse Summary

This announcement outlines solid 2025 operating momentum for UMH, with Q4 rental and related income of $57.7M, full-year rental income of $226.2M, and gross home sales of $36.3M. Management highlights community acquisitions, refinancing of 17 properties for $193.2M, and share repurchases totaling $4.5M. Investors may track final audited results on February 25, 2026, trends in same-property occupancy, and the pace of leasing existing and in-process home inventory.

Key Terms

real estate investment trust (REIT) financial

"a real estate investment trust (REIT) specializing in the ownership..."

A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate like shopping malls, apartments, or office buildings. Investors buy shares of the REIT, making it easy for people to invest in real estate without buying property themselves, and it often pays regular dividends from the rent it collects.

series b bonds financial

"sale to investors in Israel of approximately $80.2 million of our 5.85% Series B Bonds due 2030."

Series B bonds are a specific class or tranche of debt that a borrower issues after an earlier series; they carry their own interest rate, maturity date and repayment priority. For investors, the label signals where these bonds sit in the repayment order and what return and risk to expect—think of creditors standing in a numbered line for repayment, where later-numbered series may get paid after earlier ones and often offer higher interest to compensate for greater risk.

at-the market sale program financial

"we did not sell any of our common stock through our at-the market sale program..."

A program that lets a company sell newly issued shares directly into the open market at the current trading price, typically through a broker, rather than in a single large offering. For investors it matters because it gives the company a flexible, on‑demand way to raise cash but can dilute existing shareholders and create downward pressure on the stock if large amounts are sold, similar to a store restocking and selling extra units at the going price.

common stock repurchase program financial

"and instead bought back 300,000 shares through our Common Stock Repurchase Program..."

A common stock repurchase program is when a company uses cash to buy back its own shares from the market, reducing the number of shares available to outside owners. Think of it like a store buying back coupons so each remaining coupon becomes a slightly larger slice of ownership and potential earnings; for investors, buybacks can raise per-share profits, change ownership percentages, and signal how management chooses to use excess cash, which can affect stock value.

securities portfolio financial

"We also sold 100,000 shares of Realty Income Corporation from our securities portfolio..."

A securities portfolio is the collection of tradable financial assets—such as stocks, bonds, exchange-traded funds and other marketable instruments—held by an individual or institution. It matters to investors because the mix and balance of those holdings determine potential returns, risk exposure and how quickly money can be moved or sold; think of it like a diversified basket of tools or groceries where variety helps manage surprises and meet different goals.

forward-looking statements regulatory

"Certain statements included in this press release which are not historical facts may be deemed forward-looking statements..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. Not financial advice.

FREEHOLD, NJ, Jan. 05, 2026 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) (TASE: UMH), a real estate investment trust (REIT) specializing in the ownership and operation of manufactured home communities, is providing investors with an update on the fourth quarter and full year 2025 operating results:

1. During the quarter, 170 new homes were added and rented. For the year, 717 new homes were added and rented. This includes rental home additions to our joint venture communities. UMH now owns approximately 11,000 rental homes with an occupancy rate of 93.8%.
   
   
2. Same Property occupancy increased by 33 units during the fourth quarter and increased by 354 units over last year to 88.3%.
   
   
3. We achieved gross home sales revenue of $9.2 million for the quarter, including homes sales at Honey Ridge which is our newly opened community through our joint venture with Nuveen Real Estate, compared to $8.6 million in the same period last year, representing an increase of 7%. For the year, we achieved gross sales revenue of approximately $36.3 million, including Honey Ridge, as compared to $33.5 million in the previous year, representing an increase of 8%.
   
   
4. Rental and Related Income for the fourth quarter was $57.7 million compared to $53.3 million last year, representing an increase of 8%. Rental and Related Income for the year was $226.2 million compared to $207.0 million last year, representing an increase of 9%.
   
   
5. Our occupancy gains and rent increases achieved throughout 2024 and in 2025 have increased our Same Property January 2026 rental and related charges by 9.1% over January 2025 and our total charges by 11.2%. Same Property Rental and Related Income for the fourth quarter was $56.2 million compared to $52.6 million last year, representing an increase of 7%. Same Property Rental and Related Income for the year was $221.1 million compared to $204.7 million last year, representing an increase of 8%.
   
   
6. During the quarter, we closed on one manufactured home community in Albany, GA for a total purchase price of $2.6 million. This community contains 130 developed homesites, of which 32% are occupied. During the year, we closed on the acquisitions of five manufactured home communities for a total purchase price of $41.8 million. These communities contain 587 developed homesites, of which 78% are occupied. They are situated on approximately 161 acres.
   
   
7. During the year, we completed the sale to investors in Israel of approximately $80.2 million of our 5.85% Series B Bonds due 2030. The net proceeds of the offering will be used for working capital and general corporate purposes.
   
   
8. During the year, we refinanced 17 communities generating total proceeds of $193.2 million at a weighted average interest rate of 5.67%. The proceeds were used to pay off the existing debt, invest in our rental home program, complete capital improvements, acquire new communities and buy back our common stock.
   
   
9. During the quarter, we did not sell any of our common stock through our at-the market sale program and instead bought back 300,000 shares through our Common Stock Repurchase Program at a weighted average price of $14.97 per share for a total of $4.5 million. We also sold 100,000 shares of Realty Income Corporation from our securities portfolio at a weighted average price of $56.62, generating gross proceeds of approximately $5.7 million.
   
   

Samuel A. Landy, President and CEO of UMH Properties, Inc., stated “UMH had an exceptional year in 2025. This year was highlighted by an increase in same property occupancy of 354 units, driven by the addition of 717 revenue generating rental homes, an increase in sales of 8%, the acquisition of five communities in our target markets and the successful refinancing of 17 communities which demonstrates the long-term value creation of our business plan.

“Our high-quality communities continue to experience strong demand for sales and rental homes, which is driving increased occupancy and sales results. We currently have 140 homes on site and ready for occupancy with another 330 homes being set up. This inventory will allow us to drive additional occupancy and revenue growth in the first quarter of 2026 and beyond.

“We successfully refinanced 17 communities for total proceeds of $193.2 million. This capital was used to repay existing debt, invest in our rental home program, capital improvements, acquire new communities and buy back our common stock. It’s important to note that the appraisals conducted for the refinancing demonstrate the value created by our business plan. Our total investment in these communities was approximately $140 million, or $37,000 per site, and they were valued at approximately $309 million, or $82,000 per site, generating an increase in value of $169 million, representing an increase of 121% in value.

“We are confident that the investments we have made in our portfolio will lead to continued earnings per share growth in the quarters to come. We are proud of our results and commend our team for their hard work in 2025.

“We look forward to reporting our Fourth Quarter and Full Year 2025 results on February 25, 2026.”

It should be noted that the financial information set forth above reflects our preliminary estimates with respect to such information, based on information currently available to management, and may vary from our actual financial results as of and for the quarter and year ending December 31, 2025. UMH’s final fourth quarter and full year 2025 results will be released on Wednesday, February 25, 2026, after the close of trading on the New York Stock Exchange and will be available on the Company’s website at www.umh.reit, in the Financials section. Senior management will discuss the results, current market conditions and future outlook on Thursday, February 26, 2026, at 10:00 a.m. Eastern Time.

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 145 manufactured home communities, containing approximately 27,000 developed homesites, of which 11,000 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 145 communities are two communities in Florida, containing 363 sites, and one community in Pennsylvania, containing 113 sites, that UMH has an ownership interest in and operates through its joint ventures with Nuveen Real Estate.

Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company’s current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company’s annual report on Form 10-K and described from time to time in the Company’s other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Contact: Nelli Madden
732-577-4062

FAQ

How many new rental homes did UMH (NYSE: UMH) add in Q4 2025 and full year 2025?

UMH added 170 new homes in Q4 2025 and 717 homes for the full year 2025.

What was UMH’s occupancy and Same Property occupancy reported on Jan 5, 2026?

UMH reported approximately 93.8% overall rental home occupancy and Same Property occupancy of 88.3%.

What were UMH’s Q4 2025 gross home sales and full-year home sales figures?

Gross home sales were $9.2M in Q4 2025 and approximately $36.3M for the full year 2025.

What financing and capital actions did UMH announce for 2025 (UMH)?

UMH issued ~$80.2M of 5.85% Series B bonds due 2030, refinanced 17 communities for $193.2M, and repurchased 300,000 shares for $4.5M.

What acquisitions did UMH complete in 2025 and what are the site counts?

UMH closed on 5 communities in 2025 for $41.8M (totaling 587 developed homesites) and one Q4 community in Albany, GA for $2.6M (130 homesites).

When will UMH release final fourth quarter and full year 2025 results and hold the earnings call?

UMH will release final results after market close on Feb 25, 2026 and hold a management discussion on Feb 26, 2026 at 10:00 a.m. ET.