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 IncMaintained 2026 FFO guidance and reported Q2 FFO growth, with plans for expansion and credit facility increase.
