UMH Properties, Inc. (UMH) Earnings Call Transcripts

UMH Properties, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, UMH Properties, Inc. reported normalized FFO of $0.23 per share, unchanged from the prior year, despite challenges from rising interest rates and seasonal headwinds. Revenue from rental and related income increased by 9% to $59.5 million, driven by improved occupancy and rental home additions. Management tightened its normalized FFO guidance range to $0.98 to $1.04 per share, indicating confidence in continued growth despite current pressures.

Reported metrics

Guidance from management

Management tightened its normalized FFO guidance range to $0.98 to $1.04 per share, indicating a cautious outlook for the remainder of the year while expressing confidence in operational growth.

What management said

One of the things we think about, like why is somebody short 3 million shares of UMH properties? And I don't know what they see or think they see that we see differently. Our 3,240 vacant sites represent incredible opportunity to increase sales and rental revenue and that will come to the bottom line. And to me, it's reasonable to believe someday, in the near future, we'll sell 320 homes in a year at $150,000 average...

Yes. Craig, it's Anna. We had written off on security. And if you think about it, it was already written down in our unrealized gain line -- unrealized gain and loss line. So we just wrote it down -- physically wrote it down, so we moved it from the unrealized to the realize. So that's all it was.

What analysts pressed on

Analysts expressed concerns regarding the impact of rising interest rates on profitability and the pace of home sales, particularly in light of seasonal weather challenges. There were questions about the sustainability of occupancy gains and the potential for increased operating expenses.

Main topics on the call

• Occupancy Improvement — Overall occupancy improved by 184 units to approximately 88%, with management noting that 'the increase was the result of the conversion of 166 homes from inventory to revenue-producing rental homes.' This reflects succe...
• Same Property NOI Growth — Same property NOI grew by 7.1% to $34.9 million, attributed to 'site rent increases of 5% and the increase in occupancy of 412 units over last year.' This growth demonstrates effective management of community operating r...
• Guidance Adjustment — Management tightened their normalized FFO guidance to a range of $0.98 to $1.04 per share, with a midpoint of $1.01, compared to the previous guidance of $0.97 to $1.05. This reflects a cautious optimism about future per...
• Interest Expense Concerns — Interest expenses are expected to remain stable throughout the year, with management stating, 'we don't believe that there will be any large fluctuations throughout the rest of the year.' This stability is critical given...

Read the full UMH Properties, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 UMH Properties, Inc. earnings call transcripts on record, spanning March 6, 2020 to August 6, 2026. Based on this history, UMH Properties, Inc. reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

UMH

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Residential REITs

Calls on record

29

First call

March 6, 2020

Most recent

August 6, 2026

Reporting cadence

quarterly