UMH Properties Inc

UMH Properties reported higher second-quarter and first-half 2026 sales, revenue, and net income, and reaffirmed its full-year 2026 diluted net income attributable to common shareholders guidance of US$0.07 to US$0.13 per share. First-half diluted earnings per share reached US$0.08, placing it within the guided range. The reaffirmed guidance signals management's consistent outlook, with the investment narrative still centered on execution rather than a step change in performance.

UMH Properties maintained its full-year 2026 normalized FFO guidance range of $0.98 to $1.04 per share, keeping the midpoint at $1.01 per share. President and CEO Samuel Landy reported second-quarter normalized FFO of $0.25 per share, up 9% year-over-year, while rental and related income grew to $61.1 million and occupancy improved by 97 units to 89%. The company plans to add 800 new rental homes in 2026, supported by 3,200 vacant sites and 2,400 acres of vacant land, and expects 5% rent increases. CFO Kevin Miller noted that net income attributable to common shareholders was $4.4 million, or $0.05 per diluted share, and highlighted the expansion of the unsecured revolving credit facility to a potential $600 million. Management also announced the retirement of former CFO Anna Chew and the appointment of Kevin Miller as her successor, while emphasizing the recently passed ROAD to Housing Act as a catalyst for financing and home sales.

UMH Properties announced preliminary second quarter 2026 results showing total rental and related income up 10.3% and same store rental and related income up 9.2% for July compared to the prior year. Home sales income rose 9.2% to a quarterly record of $11.4 million, up from $10.5 million in the same period last year. The company rented 193 new rental homes during the quarter, increasing net rental home occupancy by 139 units, and now owns approximately 11,200 rental homes with an occupancy rate of 95.3%. Community occupancy reached 89.0% and same property occupancy was 89.4%, with same property occupancy increasing by 430 units in the first half of the year. UMH also issued approximately 353,000 shares of Series D Preferred stock at a weighted average price of $21.61 per share, generating $7.6 million in gross proceeds, and amended its unsecured revolving line of credit to provide $260 million in available borrowings with a $340 million accordion feature, bringing total potential availability to $600 million.

UMH Properties declared a quarterly cash dividend of $0.225 per share on its common stock, payable September 15, 2026 to shareholders of record on August 17, 2026. The board also declared a quarterly dividend of $0.3984375 per share on its 6.375% Series D Cumulative Redeemable Preferred Stock for the period from June 1 through August 31, 2026, payable on the same dates. The annual dividend rate on common stock is $0.90 per share, while Series D preferred dividends are cumulative and payable quarterly at an annual rate of $1.59375 per share.

UMH Properties has been added to the Russell 2000 Value-Defensive Index, effective after the close of US markets on June 26, 2026. The index targets smaller-cap, high-quality, and lower-volatility stocks, and UMH's inclusion reflects its portfolio stability driven by steady manufactured housing demand and inflation-adjusted real estate. President and CEO Samuel Landy stated that the addition is expected to increase the company's visibility and broaden its shareholder base. UMH Properties is a real estate investment trust that owns and operates 145 manufactured home communities across twelve states, with approximately 27,100 developed homesites.

UMH Properties has endorsed the 21st Century ROAD to Housing Act, a bipartisan bill aimed at expanding affordable manufactured housing. The legislation removes the permanent chassis requirement, which UMH expects will cut construction costs by thousands per home and allow multi-story designs and larger floor plans. It also raises loan limits under the FHA Title I program and eases zoning barriers, changes the company says will improve financing access and enable placement in more residential areas. UMH, a REIT with 145 communities and about 27,100 homesites, believes the reforms will accelerate industry growth and support its expansion across the Northeast, Southeast, and Midwest.