MARKETS / NYSE / Real estate / Real estate investment trusts / 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

Revenue

$261.8M

▲ 8.8% YoY

Net income

$26.3M

▲ 22.5% YoY

Free cash flow

$39.2M

▼ 52.0% YoY

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

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 261.8M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 261.8 · Net income 26.3

100M200M-15M-30M

2009201220152018202120242025

Compound annual growth

Revenue

+10.2%

+9.9%

+12.4%

+14.6%

Net income

+39.0%

EPS, diluted

−12.5%

Dividend / share

+3.6%

+4.3%

+2.1%

+1.4%

Returned to shareholders

+20.6%

+21.7%

+15.6%

+15.8%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.9% a year over the five years to FY2025 — 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

10 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Net 10.0%

10%20%-10%-20%

200920172025

ROE

FY2025 · ROE 2.9%

5%10%-5%

200920172025

Three returns, three denominators.

Return on equity2.9%

Return on assets1.6%

Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Gross margin96.4%

Operating margin·

Net margin10.0%

EBITDA·

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

50M100M-30M-60M

200920172025

Net buybacks $M Dividends $M

FY2025 · Dividends 71.2 · Net buybacks -1.0

25.0M50.0M-25.0M-50.0MDividendsNet buybacks

200920112013201520172019202120232025

Dividends paidUSD 71.2M

Net buybacksUSD -997,000.00

Share of profit271.1%

Consecutive raises5 years

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—not applicable◌not available in our data

UMH, 17-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0
Operating income $B	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
EBITDA $B	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Income tax $B	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Net income $B	0.0	0.0	0.0	−0.0	0.1	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Free cash flow $B	0.0	0.1	0.1	−0.1	0.0	0.1	0.0	−0.0	−0.0	0.0	−0.1	0.0	−0.1	−0.0	−0.0	−0.0	0.0
EPS, diluted $	0.07	0.03	−0.15	−0.67	0.45	−0.72	0.69	−0.98	0.39	−0.10	−0.24	−0.15	−0.09	0.11	0.14	0.52	0.32
Dividend / sh $	0.89	0.85	0.82	0.80	0.76	0.72	0.72	0.72	0.72	0.72	0.72	0.72	0.72	0.72	0.72	0.72	◌
Payout %	271	276	625	−817	62	527	76	−59	164	153	781	340	200	160	240	118	191
ROE %	2.9	2.6	1.3	−0.8	8.2	1.0	5.7	−8.6	3.4	4.1	0.9	2.1	3.2	4.6	4.2	10.4	6.6
Shares out B	0.08	0.08	0.07	0.06	0.05	0.04	0.04	0.04	0.04	0.03	0.03	0.02	0.02	0.02	0.02	0.01	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

BN · CBRE · JLL · WELL · AMT · CWK

Provenance

Company facts, as filed

How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Three checks were skipped: the balance sheet is not tagged before 2010. Three checks were skipped: cost of revenue is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityReal Estate Investment Trusts

Listed onNYSE

Incorporated inMaryland

Fiscal year endsDecember 31

Data on record since2009

UMH Properties, Inc. UMH

What this company does

Growth↗ Share

Profitability↗ Share

Cash & shareholders↗ Share

The 17-year record

Other companies filing in the same sector

Company facts, as filed

Growth

Profitability

Cash & shareholders