UMH Properties, Inc. has provided an update on its third-quarter 2025 operating results, revealing significant growth and positive performance across various metrics.
The company converted 223 new homes from inventory to revenue-generating rental homes in the third quarter, bringing the year-to-date total to 528 new homes. The occupancy rate for these rental homes stands at a strong 94.1%.
Same-property occupancy increased by 132 units during the third quarter, reaching 88.5%, representing a gain of 357 units over the same period last year.
UMH achieved gross home sales revenue of $9.2 million, up from $8.7 million in the previous year, marking a 5% increase. Including sales from its joint venture with Nuveen Real Estate, the gross home sales revenue for the third quarter totaled approximately $10 million, reflecting a 14% increase over the previous year.
Occupancy gains and rent increases have contributed to a substantial rise in rental and related charges. In the third quarter, these charges amounted to approximately $57.7 million, up from $52.4 million in the previous year, representing an increase of approximately 10.1%.
The company closed on the acquisition of two manufactured home communities in Conowingo, Maryland, for a total purchase price of $14.6 million. These communities contain 191 developed homesites, with 79% occupancy, and are situated on approximately 82 acres.
UMH completed the sale of approximately $80.2 million in 5.85% Series B bonds due 2030 and issued and sold approximately 290,000 shares of common stock, generating gross proceeds of $4.8 million.
Regarding future outlook, Samuel A. Landy, President and CEO of UMH Properties, Inc., expressed optimism about the company's continued execution of its business plan, anticipating increased sales, occupancy, and overall operating results.
UMH's final third-quarter results will be released on Monday, November 3, 2025, and senior management will discuss the results, current market conditions, and future outlook on Tuesday, November 4, 2025.
UMH Properties, Inc., a public equity REIT, owns and operates 144 manufactured home communities containing approximately 26,900 developed homesites, with a focus on rental homes and self-storage units across several states.
The company's robust performance in the third quarter reflects its successful execution of strategic initiatives, expansion efforts, and positive growth trends across key financial and operational metrics. Today the company's shares have moved -0.94% to a price of $14.71. If you want to know more, read the company's complete 8-K report here.
