UMH Properties, Inc. has released its third-quarter 2025 operations update, revealing significant growth and positive performance across several key metrics compared to the same period last year. Here are the notable changes:
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Converted 223 new homes from inventory to revenue-generating rental homes, bringing the year-to-date total to 528. The company now owns approximately 10,800 rental homes with an occupancy rate of 94.1%.
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Same-property occupancy increased by 132 units during the third quarter and 357 units over the same period last year, reaching 88.5%.
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Achieved gross home sales revenue of $9.2 million, representing a 5% increase compared to the previous year. Including sales from the recently opened Honey Ridge community, the gross home sales revenue for the third quarter totaled approximately $10 million, marking a 14% increase over last year.
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Occupancy gains and rent increases led to a 10% increase in same-property rental and related charges compared to October 2024, and a 12% increase in total charges. Rental and related charges, including joint ventures, for the third quarter amounted to approximately $57.7 million, up from $52.4 million last year, reflecting a 10.1% increase.
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Closed on the acquisition of two manufactured home communities in Conowingo, Maryland, for a total purchase price of $14.6 million. These communities comprise 191 developed homesites, with a 79% occupancy rate, and are situated on approximately 82 acres.
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Completed the sale of approximately $80.2 million of 5.85% series B bonds due 2030 to investors in Israel, with the net proceeds intended for working capital and general corporate purposes.
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Issued and sold approximately 290,000 shares of common stock and approximately 3,300 shares of preferred stock, generating gross proceeds of $4.8 million and approximately $75,000, respectively. The common stock and preferred stock at-the-market sale programs are currently closed.
In addition to the specific metrics, Samuel A. Landy, President and CEO of UMH Properties, Inc., expressed optimism about the company's continued execution of its business plan, leading to increased sales, occupancy, and overall operating results. He highlighted the conversion of 223 new homes to rental properties during the quarter, emphasizing the company's pace of rental home conversions and its goal of adding 700 to 800 new rental homes.
Landy also noted a 9% increase in sales over the previous year (excluding the joint venture at Honey Ridge) and a 12% increase including Honey Ridge. The company is on track to potentially surpass its annual sales record of $33.5 million set last year, with a current sales pipeline of approximately $3.6 million, positioning UMH for a strong fourth quarter.
UMH Properties, Inc. is set to release its final third-quarter results on Monday, November 3, 2025, after the close of trading on the New York Stock Exchange. The company's senior management will discuss the results, current market conditions, and future outlook on Tuesday, November 4, 2025, at 10:00 a.m. Eastern Time.
UMH Properties, Inc. is a public equity REIT that owns and operates 144 manufactured home communities containing approximately 26,900 developed homesites, including rental homes and self-storage units across multiple states.
This operations update showcases UMH Properties, Inc.'s robust growth and strategic initiatives, positioning the company for continued success in the real estate investment trust sector. As a result of these announcements, the company's shares have moved -0.82% on the market, and are now trading at a price of $14.59. If you want to know more, read the company's complete 8-K report here.
