UMH Properties Q1 income slightly misses as harsh winter reduced home sales

UMH Properties

30/04/2026 21:46

Overview

US manufactured home REIT's Q1 total income rose 8% but slightly missed analyst expectations

Net income attributable to common shareholders turned positive from a loss a year ago

Company says harsh winter and higher interest expenses affected quarterly earnings

Outlook

UMH Properties expects 2026 normalized FFO of $0.98-$1.04 per diluted share

Company anticipates continued growth in occupancy, NOI, and sales in spring and summer

Company says new debt capital is expected to support growth as investments become income producing

Result Drivers

RENTAL INCOME AND OCCUPANCY - Co said higher rental and related income, increased occupancy, and growth in the rental portfolio supported revenue and NOI gains

WEATHER AND INTEREST EXPENSES - Co said an unusually harsh winter reduced home sales and increased operating expenses, while higher interest expenses from refinancing and new bonds also affected earnings

STRONG DEMAND - Co said strong demand led to solid sales, growing occupancy, and higher revenue

Company press release: ID:nGNX3sbV7Y

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total Income
Slight Miss*
$65.84 mln
$66.32 mln (4 Analysts)
Q1 Net Income
$2.58 mln
Q1 Adjusted FFO
$19.36 mln
Q1 FFO
$18.14 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the residential reits peer group is "buy"

Wall Street's median 12-month price target for UMH Properties Inc is $19.00, about 23.2% above its April 29 closing price of $15.42

The stock recently traded at 128 times the next 12-month earnings vs. a P/E of 98 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)