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Get filing alertsUMH Properties reports Q2 2026 earnings: 9% same-property NOI growth, 89% occupancy
Filed August 5, 2026 · Period ending August 5, 2026 · ~1 min read
Key Changes
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Same-property community NOI grew 8.8% to $37.2M in Q2 2026, driven by 8.1% rental income growth and occupancy improvement of 110 bps to 89.4%. Portfolio occupancy reached 89.0% across 26,633 sites.
Exhibit 99.2 view on EDGAR → -
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Normalized FFO rose 11% to $21.5M ($0.25/share) in Q2 2026 from $19.5M ($0.23/share) in Q2 2025. Net income attributable to common shareholders increased 75% to $4.4M ($0.05/share).
Exhibit 99.1 view on EDGAR → -
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Manufactured home sales reached $11.5M in Q2 2026, up 10% year-over-year and a new quarterly record. Management expects continued sales growth through year-end with a solid pipeline.
Exhibit 99.1 view on EDGAR → -
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Total debt increased to $789.5M from $659.2M at June 30, 2025, with net debt-to-EBITDA rising to 5.6x from 4.8x. Fixed charge coverage declined to 2.1x from 2.3x.
Exhibit 99.2 view on EDGAR → -
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Management reaffirmed FY2026 Normalized FFO guidance of $0.98–$1.04 per diluted share and expressed confidence in hitting the midpoint.
Exhibit 99.1 view on EDGAR →
Summary
UMH Properties reported strong second quarter 2026 results, with same-property community NOI growing 8.8% to $37.2 million and Normalized FFO increasing 11% to $21.5 million ($0.25 per share). The manufactured housing REIT achieved 89.0% portfolio occupancy, up 80 basis points year-over-year, with 631 additional occupied sites.
Same-property occupancy improved 110 basis points to 89.4%, while monthly rent per site rose 5.0% to $586. Manufactured home sales reached a quarterly record of $11.5 million, up 10% from the prior year. The company's leverage increased materially, with total debt rising to $789.5 million and net debt-to-EBITDA climbing to 5.6x from 4.8x a year earlier. Fixed charge coverage declined to 2.1x from 2.3x.
UMH drew $40 million on its unsecured credit facility during the period. Management reaffirmed full-year 2026 Normalized FFO guidance of $0.98–$1.04 per share and expressed confidence in achieving the midpoint, citing strong demand, a solid sales pipeline, and the company's expanded credit facility.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
UMH Properties disclosed Q2 2026 earnings results via press release and supplemental information package.
Added in current filing · verify on EDGAR →
On August 5, 2026, UMH Properties, Inc. issued a press release announcing the results for the second quarter June 30, 2026 and disclosed a supplemental information package in connection with its earnings conference call for the second quarter June 30, 2026.
UMH Properties announced its second quarter 2026 financial results through a press release and supplemental information package. The actual financial metrics (revenue, FFO, occupancy, etc.) are contained in the attached exhibits rather than in the 8-K body itself.
Event · Exhibit 99.1
UMH Properties reported Q2 2026 earnings with 7% revenue growth, 75% net income increase, and 11% Normalized FFO growth; reaffirmed FY2026 guidance.
Added in current filing · view on EDGAR →
Total Income for the quarter ended June 30, 2026 of $71.6 million as compared to $66.6 million for the quarter ended June 30, 2025, representing an increase of 7%. Net Income Attributable to Common Shareholders amounted to $4.4 million or $0.05 per diluted share for the quarter ended June 30, 2026 as compared to Net Income Attributable to Common Shareholders of $2.5 million or $0.03 per diluted share for the quarter ended June 30, 2025, representing a 75% increase and by a 67% increase on a per diluted share basis. Normalized Funds from Operations Attributable to Common Shareholders (“Normalized FFO”), was $21.5 million or $0.25 per diluted share for the quarter ended June 30, 2026, as compared to $19.5 million or $0.23 per diluted share for the quarter ended June 30, 2025, representing an 11% increase and by a 9% increase on a per diluted share basis.
UMH Properties reported second quarter 2026 results showing total income of $71.6 million (up 7% year-over-year), net income attributable to common shareholders of $4.4 million or $0.05 per diluted share (up 75% and 67% per share), and Normalized FFO of $21.5 million or $0.25 per diluted share (up 11% and 9% per share). The company attributed the earnings growth to years of investment in growing the business, with strong demand driving increased sales profitability, occupancy growth, and improved community operating results.
Added in current filing · view on EDGAR →
Increased Same Property Community NOI by 9%; ... Increased Same Property Occupancy by 110 basis points from 88.3% to 89.4%; ... Improved our Same Property expense ratio by 40 basis points from 38.5% in the second quarter of 2025 to 38.1% at quarter end; ... During the quarter, same property income increased by 8.1% driving same property NOI growth of 8.8%. Additionally, same property occupancy improved by 437 units over last year.
Same property performance showed strong improvement with community NOI up 9%, occupancy increasing 110 basis points from 88.3% to 89.4% (437 additional occupied units year-over-year), and the expense ratio improving 40 basis points from 38.5% to 38.1%. Same property income grew 8.1%, driving NOI growth of 8.8%, highlighting the strength of the company's long-term business plan and the quality and desirability of its communities.
Added in current filing · view on EDGAR →
Expanded and extended our existing unsecured revolving credit facility, increasing the available borrowings and reducing interest costs;
The company expanded and extended its existing unsecured revolving credit facility, increasing available borrowings while reducing interest costs. This improves financial flexibility and lowers the cost of capital for future growth initiatives.
Event · Exhibit 99.2
UMH Properties reported Q2 2026 earnings with 8.8% same-property NOI growth, 89.0% occupancy, and a $36.4M realized loss on marketable securities.
Added in current filing · view on EDGAR →
Rental and Related Income | $ 61,086 | $ 56,165 | $ 120,555 $ 110,739 ... Net Income $ 9,532 | $ 7,605 | $ 17,221 $ 12,415 ... Net Income Attributable to Common Shareholders $ 4,419 | $ 2,532 | $ 6,999 $ 2,261 ... FFO Attributable to Common Shareholders $ 19,659 | $ 18,703 | $ 37,799 $ 36,875 ... Normalized FFO Attributable to Common Shareholders $ 21,517 | $ 19,452 | $ 40,873 | $ 38,272
UMH Properties reported Q2 2026 rental income of $61.1 million (up 8.8% year-over-year) and net income of $9.5 million. Net income attributable to common shareholders was $4.4 million ($0.05 per share), up from $2.5 million ($0.03 per share) in Q2 2025. FFO per share was $0.23 and Normalized FFO per share was $0.25, up from $0.22 and $0.23 respectively in the prior year quarter.
Added in current filing · view on EDGAR →
Same | Property Community NOI | $ 37,241 | $ 34,230 | $ 3,011 | 8.8 % | $ 72,491 | $ 67,099 | $ 5,392 | 8.0 %
Same-property community NOI grew 8.8% in Q2 2026 to $37.2 million from $34.2 million in Q2 2025, driven by rental income growth of 8.1% and operating expense growth of 6.9%. For the six-month period, same-property NOI increased 8.0% to $72.5 million.
Added in current filing · view on EDGAR →
Total Sites 26,633 26,159 ... Occupied Sites 23,703 | 23,072 | 631 sites, 2.7 % ... Occupancy % 89.0 % | 88.2 % | 80 bps ... Total Rentals 11,084 10,570 4.9 % ... Occupied Rentals 10,562 9,974 5.9 % ... Rental Occupancy % 95.3 % | 94.4 % | 90 bps ... Monthly Rent Per Site $ 586 $ 558 5.0 % ... Monthly Rent Per Home Rental Including Site $ 1,069 | $ 1,016 | 5.2 %
UMH's portfolio reached 89.0% occupancy (up 80 basis points year-over-year) across 26,633 total sites, with 23,703 occupied sites. Rental home occupancy was 95.3% (up 90 bps). Monthly rent per site increased 5.0% to $586, while monthly rent per home rental including site rose 5.2% to $1,069.
Added in current filing · view on EDGAR →
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 )
UMH realized a $36.4 million loss on sales of marketable securities during the six months ended June 30, 2026, offset by a $42.3 million increase in fair value of remaining securities. The securities portfolio declined from $23.8 million at year-end 2025 to $29.7 million at June 30, 2026.
Added in current filing · view on EDGAR → · paraphrased
Total Debt, Net of Unamortized Debt Issuance Costs $ 789,486 $ 659,159 ... Net Debt / Adjusted EBITDA excluding Non-Recurring Other Expense 5.6 x 4.8 x ... Fixed Charge Coverage 2.1 x 2.3 x ... Unsecured Line of Credit $ 40,000 $ -0- $ -0-
Total debt increased to $789.5 million from $659.2 million at June 30, 2025, with net debt-to-EBITDA rising to 5.6x from 4.8x. Fixed charge coverage declined to 2.1x from 2.3x. The company drew $40.0 million on its unsecured line of credit during the period. 94.4% of debt is fixed-rate with a weighted average interest rate of 4.92%.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 6, 2026 · How we verify