NYSE: UMH
UMH PROPERTIES, INC.CIK 0000752642 · SIC 6798 · Real Estate Investment Trusts
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UMH Properties reports Q2 2026 earnings: 9% same-property NOI growth, 89% occupancy
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UMH Properties Q2 revenue +7.5% to $71.6M, net income +74.5% to $4.4M; Nuveen JV adds put right
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UMH launches zero-down payment home lending program for U.S. Veterans
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UMH Properties reports 10.3% revenue growth, record $11.4M home sales in Q2 2026
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UMH Properties declares quarterly dividends: $0.225/share common, $0.3984375/share preferred
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UMH appoints Kevin Miller as CFO with $430K salary, 60% target bonus, and equity awards
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UMH Properties CFO Anna Chew retiring June 1; Kevin Miller named successor at $430K salary
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UMH Properties announces routine director reelections at annual shareholder meeting
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UMH Properties completes annual meeting with director elections and routine approvals
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UMH Properties launches up to $44.6M at-the-market offering of common stock
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UMH Properties amends ATM programs, expands broker network for $250M equity shelf
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UMH Properties extends $260M credit facility to 2030, cuts interest rates 35-40 bps
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UMH: revenue $65.8M, net income $7.7M. UMH Properties grows NOI 8% and adds 121 rental homes, but debt surges 53% on expansion
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UMH Properties announces Q1 2026 earnings results via press release and investor package
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Loss) (Unaudited)
(in thousands except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| INCOME: | ||||
| Rental and Related Income | 61,086 | 56,165 | 120,555 | 110,739 |
| Sales of Manufactured Homes | 10,554 | 10,478 | 16,923 | 17,129 |
| Total Income | 71,640 | 66,643 | 137,478 | 127,868 |
| EXPENSES: | ||||
| Community Operating Expenses | 25,258 | 23,047 | 50,570 | 46,076 |
| Cost of Sales of Manufactured Homes | 6,807 | 7,124 | 10,883 | 11,469 |
| Selling Expenses | 2,337 | 1,847 | 4,204 | 3,462 |
| General and Administrative Expenses | 5,520 | 6,256 | 10,612 | 12,255 |
| Depreciation Expense | 18,267 | 15,739 | 36,243 | 32,402 |
| Total Expenses | 58,189 | 54,013 | 112,512 | 105,664 |
| OTHER INCOME (EXPENSE): | ||||
| Interest Income | 1,963 | 2,060 | 4,137 | 4,323 |
| Dividend Income | 301 | 375 | 603 | 749 |
| Loss on Sales of Marketable Securities, net | 0 | 0 | (36,418) | 0 |
| Increase (Decrease) in Fair Value of Marketable Securities | 3,227 | (175) | 42,310 | (1,737) |
| Other Income | 236 | 252 | 431 | 429 |
| Loss on Investment in Joint Ventures | (24) | (133) | (88) | (214) |
| Interest Expense, including Amortization of Financing Costs | (9,670) | (7,368) | (18,765) | (13,302) |
| Total Other Income (Expense) | (3,967) | (4,989) | (7,790) | (9,752) |
| Income before Gain (Loss) on Sales of Investment Property and Equipment | 9,484 | 7,641 | 17,176 | 12,452 |
| Gain (Loss) on Sales of Investment Property and Equipment | 48 | (36) | 45 | (37) |
| Net Income | 9,532 | 7,605 | 17,221 | 12,415 |
| Preferred Dividends | (5,180) | (5,129) | (10,353) | (10,258) |
| Loss Attributable to Non-Controlling Interest | 67 | 56 | 131 | 104 |
| Net Income Attributable to Common Shareholders | 4,419 | 2,532 | 6,999 | 2,261 |
| Net Income Attributable to Common Shareholders Per Share Basic and Diluted | 0.05 | 0.03 | 0.08 | 0.03 |
| Weighted Average Common Shares Outstanding: | ||||
| Basic | 85,201 | 83,974 | 85,094 | 83,233 |
| Diluted | 85,581 | 84,779 | 85,478 | 84,051 |
Consolidated Balance Sheets (Unaudited)
| Description | Jun 30, 2026 | Dec 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 28.6 | 72.1 |
| Restricted cash | 9.9 | 8.8 |
| Prepaid expenses and other current assets | 17.0 | 13.8 |
| Loans held for investment, net | 106.3 | 100.0 |
| Investment property, net | 1,391 | 1,371 |
| TOTAL ASSETS | 1,713 | 1,699 |
| Current liabilities: | ||
| Total liabilities | 821.0 | 791.8 |
| Shareholders' equity: | ||
| Common stock | 8.5 | 8.5 |
| Capital in excess of stated value | 573.8 | 599.5 |
| Retained earnings (deficit) | (25.4) | (25.4) |
| Total shareholders' equity | 890.4 | 905.5 |
| Noncontrolling interest | 1.5 | 1.7 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,713 | 1,699 |
Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net Income | 17,221 | 12,415 |
| Non-Cash items included in Net Income: | ||
| Depreciation | 36,243 | 32,402 |
| Amortization of Financing Costs | 2,063 | 1,246 |
| Stock Compensation Expense | 2,124 | 3,619 |
| Provision for Uncollectible Notes and Other Receivables | 976 | 845 |
| Loss on Sales of Marketable Securities, net | 36,418 | 0 |
| (Increase) Decrease in Fair Value of Marketable Securities | (42,310) | 1,737 |
| (Gain) Loss on Sales of Investment Property and Equipment | (45) | 37 |
| Loss on Investment in Joint Ventures | 281 | 410 |
| Changes in Operating Assets and Liabilities: | ||
| Inventory of Manufactured Homes | 697 | (3,706) |
| Notes and Other Receivables | (6,895) | (6,816) |
| Prepaid Expenses and Other Assets | (2,077) | (3,002) |
| Accounts Payable | 2,248 | 548 |
| Accrued Liabilities and Deposits | (1,875) | (2,966) |
| Tenant Security Deposits | 563 | 426 |
| Net Cash Provided by Operating Activities | 45,632 | 37,195 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of Manufactured Home Communities | 0 | (25,367) |
| Purchase of Investment Property and Equipment | (57,908) | (50,494) |
| Proceeds from Sales of Investment Property and Equipment | 2,465 | 2,072 |
| Additions to Land Development Costs | (22,877) | (25,308) |
| Purchase of Marketable Securities through automatic reinvestments | (15) | (13) |
| Investment in Joint Ventures | (551) | (1,538) |
| Net Cash Used in Investing Activities | (78,886) | (100,648) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from Mortgages | 0 | 101,392 |
| Net Proceeds (Payments) from Short-Term Borrowings | 39,407 | (928) |
| Principal Payments of Mortgages and Loans | (11,257) | (55,194) |
| Financing Costs on Debt | (1,953) | (2,079) |
| Proceeds from At-The-Market Preferred Equity Program, net of offering costs | 8,648 | 982 |
| Proceeds from At-The-Market Common Equity Program, net of offering costs | 0 | 39,565 |
| Proceeds from Issuance of Common Stock in the DRIP, net of dividend reinvestments | 2,611 | 3,131 |
| Proceeds from Exercise of Stock Options | 97 | 491 |
| Preferred Dividends Paid | (10,353) | (10,258) |
| Common Dividends Paid, net of dividend reinvestments | (36,328) | (34,977) |
| Net Cash (Used In) Provided by Financing Activities | (9,128) | 42,125 |
| Net Decrease in Cash, Cash Equivalents and Restricted Cash | (42,382) | (21,328) |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 80,926 | 108,811 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | 38,544 | 87,483 |
Face scale: (in thousands except per share amounts); (in thousands). Amounts in millions USD (mixed scale; EPS as reported); EPS as reported. Statements found on the EDGAR/iXBRL face print as filed; the rest are presentation-friendly mappings of filer XBRL tags. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗