UMH Properties, Inc. reported its financial results for the third quarter of 2025, showing a notable increase in revenue and net income compared to the same period last year. The company generated total income of $66.9 million for the three months ended September 30, 2025, up from $60.7 million in the prior year, driven primarily by an 11% increase in rental and related income, which reached $57.8 million. For the nine-month period, total income rose to $194.8 million from $178.7 million in 2024. Net income attributable to common shareholders for the third quarter was $4.2 million, or $0.05 per share, compared to $8.2 million, or $0.11 per share, in the same quarter of 2024.
The company experienced significant operational changes, including the acquisition of four manufactured home communities for a total of approximately $40.2 million during the nine months ended September 30, 2025. This brought the total number of communities operated by UMH to 145, with approximately 27,000 developed homesites. The occupancy rate for rental homes increased to 94.1%, reflecting strong demand for affordable housing. Additionally, the company added 433 rental homes during the first nine months of 2025, bringing the total to approximately 10,800 rental homes.
In terms of financial position, UMH's total assets increased to $1.6 billion as of September 30, 2025, compared to $1.6 billion at the end of 2024. The company’s liabilities also rose to $703.1 million, primarily due to new debt incurred from acquisitions. The company reported a decrease in cash and cash equivalents to $34.1 million from $99.7 million at the end of 2024, largely due to significant investments in property and equipment. The company’s debt-to-equity ratio remains manageable, with net debt to total market capitalization at approximately 28%.
Looking ahead, UMH Properties, Inc. plans to continue its strategy of acquiring additional manufactured home communities and expanding its existing properties. The company aims to leverage its joint venture with Nuveen Real Estate to identify and acquire new investment opportunities. Management remains optimistic about the demand for affordable housing and intends to maintain its focus on increasing occupancy and net operating income across its communities. The company’s ability to generate cash flow from operations, along with access to capital markets, positions it well for future growth and investment opportunities.
About UMH PROPERTIES, INC.
UMH Properties, Inc. is a real estate investment trust specializing in owning and operating manufactured home communities across the U.S. It leases land and homes, sells and finances manufactured homes, and develops communities in targeted markets. The company emphasizes affordable housing, sustainable practices, and predictable income streams, competing in a highly regulated, cyclical industry with a focus on long-term capital appreciation.
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