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MARKETS / NYSE / UMH
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

UMH Properties, Inc. UMH

17 fiscal years on record · USD · FY2025 reported · SEC filings only
5 YEARS OF DIVIDEND GROWTH
$35.0M
▲ 4.5% YoY
$26.3M
▲ 22.5% YoY
$39.2M
▼ 52.0% YoY
In brief

What this company does

The Company’s primary business is the ownership and operation of manufactured home communities – leasing manufactured homesites to residents. As of December 31, 2025, the Company operated a portfolio of 145 manufactured home communities, of which 142 are majority owned and are included in our consolidated operations with the remaining three owned through our joint ventures with Nuveen Real Estate (“Nuveen” or “Nuveen Real Estate”) in which the Company has a 40% interest. In connection with the operation of its communities, UMH also leases manufactured homes to prospective tenants. As of February 20, 2026, the Company had approximately 540 employees, including officers.

Written from the business description in UMH Properties, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth
USD 35.0M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 35.0 · Net income 26.3
40M80M-20M200920112013201520172019202120232025
Compound annual growth
+11.4%
+11.6%
−8.1%
+0.2%
+39.0%
−12.5%
+3.6%
+4.3%
+2.1%
+1.4%
+20.6%
+21.7%
+15.6%
+15.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.6% a year over five years — but profit grew faster: net income at +39.0%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
75 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Net 75.0%
50%100%150%-100%-200%200920112013201520172019202120232025
ROE
FY2025 · ROE 2.9%
5%10%-5%200920112013201520172019202120232025

Each USD of equity produced 3 cents of profit this year.

Cash & shareholders
USD 71.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 39.2
40.0M80.0M-25.0M-50.0M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 71.2 · Net buybacks -1.0
25.0M50.0M-20.0M-40.0MDividendsNet buybacks200920112013201520172019202120232025

USD 71.2M in dividends — 271% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 1.7B
EquityUSD 905.5M
CashUSD 72.1M
Gross debtUSD 562.1M
Net debtUSD 490.0M

Net debt stands at 54% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.00.00.00.00.00.00.00.00.00.00.10.10.10.00.00.00.0
Operating income $B·················
EBITDA $B·················
Income tax $B·················
Net income $B0.00.00.0−0.00.10.00.0−0.00.00.00.00.00.00.00.00.00.0
Free cash flow $B0.00.10.1−0.10.00.10.0−0.0−0.00.0−0.10.0−0.1−0.0−0.0−0.00.0
EPS, diluted $0.070.03−0.15−0.670.45−0.720.69−0.980.39−0.10−0.24−0.15−0.090.110.140.520.32
Dividend / sh $0.890.850.820.800.760.720.720.720.720.720.720.720.720.720.720.72·
Payout %271276625−8176252776−59164153781340200160240118191
ROE %2.92.61.3−0.88.21.05.7−8.63.44.10.92.13.24.64.210.46.6
Shares out B0.080.080.070.060.050.040.040.040.040.030.030.020.020.020.020.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 10 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2009

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