UMH Properties Reports $226M FY2025 Rental And Related Income, 8% Growth In Home Sales Revenue

UMH Properties, Inc. (NYSE:UMH) (TASE: UMH), a real estate investment trust (REIT) specializing in the ownership and operation of manufactured home communities, is providing investors with an update on the fourth quarter and full year 2025 operating results:

1. During the quarter, 170 new homes were added and rented. For the year, 717 new homes were added and rented. This includes rental home additions to our joint venture communities. UMH now owns approximately 11,000 rental homes with an occupancy rate of 93.8%.
    
2. Same Property occupancy increased by 33 units during the fourth quarter and increased by 354 units over last year to 88.3%.
    
3. We achieved gross home sales revenue of $9.2 million for the quarter, including homes sales at Honey Ridge which is our newly opened community through our joint venture with Nuveen Real Estate, compared to $8.6 million in the same period last year, representing an increase of 7%. For the year, we achieved gross sales revenue of approximately $36.3 million, including Honey Ridge, as compared to $33.5 million in the previous year, representing an increase of 8%.
    
4. Rental and Related Income for the fourth quarter was $57.7 million compared to $53.3 million last year, representing an increase of 8%. Rental and Related Income for the year was $226.2 million compared to $207.0 million last year, representing an increase of 9%.
    
5. Our occupancy gains and rent increases achieved throughout 2024 and in 2025 have increased our Same Property January 2026 rental and related charges by 9.1% over January 2025 and our total charges by 11.2%. Same Property Rental and Related Income for the fourth quarter was $56.2 million compared to $52.6 million last year, representing an increase of 7%. Same Property Rental and Related Income for the year was $221.1 million compared to $204.7 million last year, representing an increase of 8%.
    
6. During the quarter, we closed on one manufactured home community in Albany, GA for a total purchase price of $2.6 million. This community contains 130 developed homesites, of which 32% are occupied. During the year, we closed on the acquisitions of five manufactured home communities for a total purchase price of $41.8 million. These communities contain 587 developed homesites, of which 78% are occupied. They are situated on approximately 161 acres.
    
7. During the year, we completed the sale to investors in Israel of approximately $80.2 million of our 5.85% Series B Bonds due 2030. The net proceeds of the offering will be used for working capital and general corporate purposes.
    
8. During the year, we refinanced 17 communities generating total proceeds of $193.2 million at a weighted average interest rate of 5.67%. The proceeds were used to pay off the existing debt, invest in our rental home program, complete capital improvements, acquire new communities and buy back our common stock.
    
9. During the quarter, we did not sell any of our common stock through our at-the market sale program and instead bought back 300,000 shares through our Common Stock Repurchase Program at a weighted average price of $14.97 per share for a total of $4.5 million. We also sold 100,000 shares of Realty Income Corporation from our securities portfolio at a weighted average price of $56.62, generating gross proceeds of approximately $5.7 million.