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Umh Properties (UMH)
NYSE:UMH
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.01Last Year’s EPS
0Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights a generally positive operating performance in 2025: double-digit topline growth (rental income +10%), strong same-property revenue and NOI gains (8.2% and 9%), solid occupancy and rental home program momentum, significant value realized in refinancings (121% appraisal increase), and conservative liquidity and capital management. Challenges include rising operating expenses (notably weather-related), higher debt costs and limited near-term per-share FFO expansion driven by uncertainty around home sales and a competitive acquisition market. On balance the operational achievements, strong liquidity, and pipeline for acquisitions/development outweigh the near-term headwinds and conservative guidance.Company Guidance
Normalized FFO Per Share Growth and Guidance
Normalized FFO per diluted share for the full year 2025 was $0.95 versus $0.93 in 2024, a 2% increase. Q4 normalized FFO was $0.24 (flat YoY). Management provided 2026 normalized FFO guidance of $0.97 to $1.05 per share, representing an approximately 2% to 10% potential increase versus 2025.
Topline Revenue and Rental Income Growth
Rental and related income grew to $226.7 million for 2025, a 10% increase versus prior year. Total revenue (including home sales) was $261.8 million for the year, a 9% increase over 2024.
Same-Property Performance and NOI Expansion
Same-property revenue grew 8.2% ($16.9 million) for 2025 and same-property NOI grew 9% ($11.1 million). Site rent increases averaged 5% and same-property occupancy improved by a net 354 units.
Strong Rental Home Program and Occupancy
Added and rented 717 new rental homes in 2025, bringing rental home inventory to ~11,000 units with 93.8% occupancy. Rental program turnover is ~20% and expenses per unit are approximately $400/year.
Home Sales Momentum
Gross home sales revenue was $36.4 million in 2025, up 9% from $33.5 million in 2024. Q4 gross home sales were $9.3 million, up 8% YoY. New Honey Ridge development contributed to sales growth.
Value-Creating Refinancings
Refinanced 17 communities in 2025 for $193.2 million at a weighted average rate of 5.67%. Appraisals valued those communities at $309 million versus a total investment of ~$140 million, representing a 121% increase in value.
Acquisitions, Development and Expansion Pipeline
Acquired 5 communities (587 developed homesites) for $41.8 million in 2025 with average occupancy of 78% at acquisition. Opened Honey Ridge (113-site greenfield) and completed 34 expansion sites; management expects capacity to develop 400+ sites in 2026 (four-year average ~200 sites/year).
Solid Liquidity and Conservative Capital Structure
Year-end liquidity included $72 million cash and $260 million available on the credit facility (accordion to $500 million). Total debt was ~$761 million, 99% fixed-rate, with net debt to total market capitalization of 28.3% and net debt to adjusted EBITDA of 5.4x. Interest coverage was 3.6x.
Active Capital Actions and Investor Returns
Repurchased 320,000 common shares in Q4 at an average price of $15.06 ($4.8 million) and maintained a $100 million buyback authorization. Issued $80.2 million of 5.85% Series B bonds to foreign investors and generated proceeds from ATM equity and preferred offerings (~$44.1M common ATM net proceeds, ~$3.5M preferred ATM proceeds).
Strong Collections and Low Write-offs
Rent collections remained robust at ~98.5%, and write-offs were approximately 1% (or slightly less) of rental and related income, consistent with historical performance.
UMH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
UMH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $16.19 | ― | ― |
Nov 03, 2025 | $14.26 | $14.13 | -0.89% |
Aug 06, 2025 | $15.79 | $15.82 | +0.24% |
May 01, 2025 | $16.79 | $16.80 | +0.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Umh Properties (UMH) report earnings?
Umh Properties (UMH) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Umh Properties (UMH) earnings time?
Umh Properties (UMH) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is UMH EPS forecast?
UMH EPS forecast for the fiscal quarter 2026 (Q1) is 0.01.