UMH PROPERTIES, INC. THIRD QUARTER 2025 OPERATIONS UPDATE

Rhea-AI Summary

UMH Properties (NYSE:UMH) has released its Q3 2025 operations update, highlighting significant growth across multiple metrics. The company converted 223 new homes to rental properties in Q3, bringing the year-to-date total to 528. With approximately 10,800 rental homes maintaining a strong 94.1% occupancy rate, UMH achieved a 10% increase in rental and related charges to $57.7 million.

The company reported $9.2 million in gross home sales, a 5% year-over-year increase, reaching $10 million when including their Honey Ridge joint venture. UMH also acquired two communities in Maryland for $14.6 million, completed an $80.2 million bond offering in Israel, and raised additional capital through ATM programs. Same-property occupancy improved to 88.5%, with October 2025 rental charges showing a 12% year-over-year increase.

Positive

• Rental home occupancy remains strong at 94.1%
• Same-property occupancy increased by 132 units in Q3
• Home sales revenue increased 14% year-over-year to $10 million including joint venture
• Rental and related charges increased 10.1% to $57.7 million
• Successfully raised $80.2 million through 5.85% Series B Bonds
• Strategic acquisition of two communities for $14.6 million expanding portfolio

Negative

• Recently acquired Maryland communities show relatively low 79% occupancy rate
• Additional share issuance through ATM program may cause dilution

FREEHOLD, NJ, Oct. 01, 2025 (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 third quarter of 2025 operating results:

1. We converted 223 new homes from inventory to revenue generating rental homes. Year-to-date, we have converted 528 new homes from inventory to revenue generating rental homes. UMH now owns approximately 10,800 rental homes with an occupancy rate of 94.1%.
   
   
2. Same Property occupancy increased by 132 units during the third quarter and 357 units over the same period last year to 88.5%.
   
   
3. We achieved gross home sales revenue of $9.2 million compared to $8.7 million last year, representing an increase of approximately 5%. Additionally, we achieved gross home sales revenue of approximately $800,000 at Honey Ridge, our recently opened community owned through our joint venture with Nuveen Real Estate. Including these sales, sales for the third quarter were approximately $10 million, representing an increase of 14% over last year.
   
   
4. Our occupancy gains and rent increases achieved throughout 2024 and thus far in 2025 have increased our same property October 2025 rental and related charges by approximately 10% over October 2024 and our total charges by 12%. Rental and related charges, including our joint ventures, for the third quarter were approximately $57.7 million compared to $52.4 million last year, representing an increase of approximately 10.1%.
   
   
5. We closed on the acquisition of two manufactured home communities, located in Conowingo, Maryland, for a total purchase price of $14.6 million. These communities contain 191 developed homesites, of which 79% are occupied. They are situated on approximately 82 acres.
   
   
6.  We completed the sale to investors in Israel of approximately $80.2 million of 5.85% Series B Bonds due 2030. The net proceeds of the offering will be used for working capital and general corporate purposes.
   
   
7. We issued and sold approximately 290,000 shares of Common Stock through our At-the-Market sale program at a weighted average price of $16.44 per share, generating gross proceeds of $4.8 million. Through the Preferred At-the-Market sale program, we issued and sold approximately 3,300 shares at a weighted average price of $23.00 per share, generating gross proceeds of approximately $75,000. Currently, the Common Stock ATM and Preferred Stock ATM are shut down.
   
   

Samuel A. Landy, President and CEO of UMH Properties, Inc., stated “UMH continues to execute on its business plan, which is resulting in increased sales, occupancy and overall operating results. As we deploy recently raised capital into new rental homes, expansions, community acquisitions and retail financing, we anticipate our earnings per share to rise accordingly. We have a long-term proven track record of delivering earnings growth and value for our shareholders. Over the past 5 years, we have increased our dividend by 25%.

“During the quarter, we converted 223 new homes from inventory to revenue generating rental homes. Our pace of rental home conversions has increased throughout the year and we believe we are on track to meet our goal of adding 700 to 800 new rental homes. Our rental home occupancy rate remains strong at 94.1% and our rent collections are in line with our historical averages.

“Sales continue to demonstrate growth with a 9% increase over last year, not including our joint venture at Honey Ridge, and a 12% increase, including Honey Ridge. We are on track to break our annual sales record of $33.5 million which was set last year. Our sales pipeline is currently approximately $3.6 million which positions us well for the 4^th quarter.

“We currently have approximately 130 homes on site and ready for occupancy and an additional 280 homes on site that are currently being installed. This inventory will allow us to continue our occupancy growth for the remainder of the year and into next year.

“We look forward to continued sales and occupancy growth throughout the year.”

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 third quarter ended September 30, 2025. UMH’s final third quarter results will be released on Monday, November 3, 2025, 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 Tuesday, November 4, 2025, at 10:00 a.m. Eastern Time.

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 144 manufactured home communities containing approximately 26,900 developed homesites, of which 10,800 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 144 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 venture 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

What were UMH Properties' (NYSE:UMH) key operational metrics for Q3 2025?

UMH reported 94.1% rental home occupancy, converted 223 new homes to rentals, achieved $9.2 million in gross home sales (5% increase), and saw rental charges increase by 10.1% to $57.7 million.

How many rental homes does UMH Properties own as of Q3 2025?

UMH Properties owns approximately 10,800 rental homes across 144 manufactured home communities containing about 26,900 developed homesites.

What acquisitions did UMH Properties make in Q3 2025?

UMH acquired two manufactured home communities in Conowingo, Maryland for $14.6 million, adding 191 developed homesites with 79% occupancy on 82 acres.

How much capital did UMH Properties raise in Q3 2025?

UMH raised $80.2 million through Series B Bonds in Israel, plus $4.8 million through Common Stock ATM sales and $75,000 through Preferred Stock ATM sales.

What is UMH Properties' rental home conversion target for 2025?

UMH aims to add 700 to 800 new rental homes in 2025, having converted 528 homes year-to-date through Q3.