| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 22 | 42.6x | 17.8x | Bottom tier | |
Growth | 33 | 8.4% | 7.1% | Bottom tier | |
Quality | 27 | 3.0% | 4.5% | Bottom tier | |
Safety | 41 | 5.9x | 2.6x | Around median | |
Capital Return | 48 | 5.67% | 2.12% | Around median | |
Momentum | 62 | -0.3% | 2.9% | Around median | |
Sentiment | 87 | 3 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
UMH Properties, Inc. operates as a real estate investment trust specializing in manufactured housing communities, with its primary driver coming from rental income from sites, homes, and related services, along with home sales and financing for certain buyers through loan origination programs. The company supports its growth by acquiring communities with vacancies, adding rental homes, and developing new sites within its existing assets; it also generates additional income from brokerage, self-storage, cable, insurance, and oil and gas rights. Its rental home inventory totaled approximately 11,200 units at 95.3% occupancy, while the portfolio had 3,200 vacant sites and 2,400 acres of vacant land at the end of fiscal Q2 2026.
In fiscal Q2 2026, net income attributable to common shareholders was $4.4 million, or $0.05 per diluted share, compared with $2.5 million and $0.03 a year earlier. Normalized funds from operations increased to $21.5 million, or $0.25 per share, representing year-over-year growth of 11% and 9%, respectively. Rental and related income reached $61.1 million, up 9%, and home sales revenue rose 10% to a quarterly record of approximately $11.5 million, demonstrating that rentals remain the largest source, with a growing contribution from sales.
Same-property revenue increased 8%, or $4.5 million, and same-property net operating income rose 9%, or $3 million, to $37.2 million in fiscal Q2 2026. This was supported by a 5% increase in site rents and a year-over-year occupancy increase of 437 units, while total occupancy improved by 97 units during the quarter to 89%. For comparison with the latest total revenue reported in EDGAR filings, fiscal Q1 2026 recorded revenue of $65.8 million and net income of $7.7 million, while fiscal 2025 revenue was approximately $261.8 million and net income was $26.3 million.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $17.75, within a narrow range of $17.50 to $18, with a consensus “Buy” rating; the average is approximately 5.8% above the 52-week range high of $16.77, while the range low is $13.93. The target reflects expectations for improved normalized funds from operations and continued occupancy and sales growth, but the narrow range does not necessarily capture the risks associated with $789 million in debt or the uncertainty surrounding a potential sale, and no earnings multiple is available from the provided information to serve as an additional anchor.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
The plan depends on increasing site rents by 5% and adding 800 new rental homes during fiscal 2026. In fiscal Q2 2026, rental and related income rose 9% to $61.1 million, and same-property net operating income grew 9% to $37.2 million. Home sales also increased 10% to approximately $11.5 million, and the company recorded normalized funds from operations of $0.25 per share.
Management maintained its guidance range at $0.98 to $1.04 per share, with a midpoint of $1.01, after achieving $0.48 in the first half of fiscal 2026. This requires generating between $0.50 and $0.56 per share during the second half. The plan assumes the addition of 800 rental homes, a 5% increase in rents, and capital raising of between $120 million and $150 million, with no acquisitions or additional common share issuances through the at-the-market program.
Management believes the legislation will improve the availability of small-dollar loans for manufactured home buyers, potentially increasing home sales, loan origination revenue, and site occupancy. It also believes the legislation allows greater design flexibility, including two-story homes without the traditional undercarriage, and UMH and Champion Homes planned to display a model in Washington between September 22 and 24, 2026. However, management did not specify a precise date for the full commercial impact to begin, and the final cost of two-story homes was unknown during the August 6, 2026 call.
Total debt was $789 million, 94% of which had fixed rates, with a weighted-average interest rate of 4.92%. The company held $28.6 million in cash and cash equivalents, with $220 million available under the unsecured revolving credit facility and $184 million under other lines. Net debt to normalized earnings before interest, taxes, depreciation, and amortization was 5.6 times, while interest coverage was 3.1 times and fixed-charge coverage was 2.1 times.
On August 11, 2026, Erez Asset Management urged UMH’s board of directors to explore sale options to maximize shareholder value. The demand came amid a belief that the asset value might not be fully reflected, a view that aligns with management’s statement that the company owns 3,200 vacant sites and 2,400 acres of vacant land. The information does not include a formal decision to sell the company or a binding offer, so this remains a potential catalyst rather than a confirmed outcome.
The board of directors appointed Kevin Miller as chief financial officer, succeeding Anna Chew, who retired from the position on June 1, 2026, after 35 years of service. According to the August 6, 2026 call, Anna Chew was to remain an employee in an advisory role to support the transition of chief financial officer responsibilities and also remained a member of the board of directors. Kevin Miller had served as chief financial officer of UMH’s qualified opportunity zone fund since October 2022 and previously worked as chief financial officer of Monmouth Real Estate Investment Corporation for ten years.
