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FREEHOLD, NJ - UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) reported its preliminary second quarter 2025 operating results on Wednesday, showing growth in multiple areas of its manufactured home community business. According to InvestingPro data, the company maintains a "GOOD" overall financial health score, with particularly strong metrics in growth and cash flow management. The company has also maintained dividend payments for 36 consecutive years, demonstrating consistent shareholder returns.
The real estate investment trust achieved gross home sales revenue of $10.3 million in the second quarter, a 17% increase from $8.8 million in the same period last year. The company also converted 188 new homes from inventory to revenue-generating rental units during the quarter. This growth aligns with UMH’s broader revenue trajectory, as InvestingPro data shows an 8.17% revenue growth over the last twelve months, with analysts expecting continued growth this year.
UMH’s same-property occupancy increased by 76 units during the second quarter and 251 units year-over-year, reaching 88.2%. The company now owns approximately 10,600 rental homes with an occupancy rate of 94.4%.
Rental and related charges for the second quarter were $55.9 million, up 8.5% from $51.5 million in the same period last year. The company reported that its July 2025 same-property rental and related charges increased by approximately 9.2% compared to July 2024.
During the quarter, UMH completed the addition of ten communities containing approximately 2,000 sites to its Fannie Mae credit facility. This refinancing generated proceeds of approximately $101.4 million with a fixed interest rate of 5.855%. According to the company, the certified appraisal conducted during the refinancing process valued these ten communities at $163.5 million, representing a 146% increase from UMH’s cost basis of $66.6 million.
The company also issued and sold approximately 1.8 million shares of common stock through its At-the-Market sale program at a weighted average price of $17.60 per share, generating gross proceeds of $31.0 million.
UMH Properties owns and operates 141 manufactured home communities with approximately 26,500 developed homesites across 12 states, according to the press release statement. The company plans to release its final second quarter results on August 6, 2025. With a market capitalization of $1.43 billion and a current dividend yield of 5.31%, UMH offers investors exposure to the manufactured housing sector. For deeper insights into UMH’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro, which features detailed financial metrics and expert research reports.
In other recent news, UMH Properties reported its first-quarter 2025 earnings, which did not meet analyst expectations. The company’s earnings per share (EPS) was reported at $0.00, falling short of the projected $0.036, while revenue reached $61.23 million, missing the forecasted $62.88 million. Despite these shortfalls, UMH Properties declared a quarterly dividend of $0.225 per share on its Common Stock and $0.3984375 per share on its 6.375% Series D Cumulative Redeemable Preferred Stock. Lucid Capital Markets adjusted its price target for UMH Properties to $21 from $22, maintaining a Buy rating, following the company’s performance that lagged behind its Net Funds From Operations (NFFO) prediction by $0.01 per share. The firm also revised its NFFO and AFFO estimates for 2025 and 2026, reflecting the latest financial results and expectations. UMH Properties introduced new solar shingle homes and duplex manufactured homes as part of its growth strategy, while rental home occupancy rose slightly to 94.6%. The company remains optimistic about its future, with expectations of a 5% growth in rent and strong sales throughout the year.
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