UMH Properties, Inc
UMH Properties, Inc. is a U.S.-based REIT that owns and operates manufactured home communities, primarily leasing homesites to residents. The company also leases manufactured homes and, through its taxable REIT subsidiary, sells and finances manufactured homes for placement in its communities and on privately owned land.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaLeasing of manufactured homesites within owned communities.
Rental of company-owned manufactured homes to residents.
Sale and financing of manufactured homes through S&F.
Self-storage, cable, oil and gas leases, and other community income.
Asiakkaat
UMH serves residents of manufactured home communities, including households seeking affordable housing and long-term site rentals. It also sells homes to prospective residents for placement in its communities and to customers with privately owned land, while generating smaller amounts of income from storage and other ancillary users.
Households leasing homesites and, in some cases, renting homes for affordable long-term housing.
Residents and outside customers purchasing homes through the sales centers and financing program.
Customers buying manufactured homes for placement on privately owned land.
Residents and nearby users leasing self-storage units or other community-based services.
Strategia
UMH focuses on increasing occupancy and net operating income across its manufactured home communities, using home sales and rentals to fill vacant sites and support community density. The company also uses a balanced capital structure and selective acquisitions, development, and redevelopment to expand its portfolio and enhance long-term asset value.
Higher occupancy improves recurring rental income and supports community economics.
Selective portfolio growth adds scale and improves the quality of the community base.
Home sales help populate sites and strengthen the value of the underlying community.
Maantiede
UMH’s portfolio is concentrated in the Eastern and Midwestern United States, with communities in 12 states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. The company also has joint venture communities in Florida and Pennsylvania, and its opportunity zone fund owns communities in South Carolina and Georgia.
Riskit
UMH is exposed to local real estate and housing-market conditions because its communities are concentrated in specific U.S. regions and depend on occupancy and rent growth. The business also carries financing, cybersecurity, and capital-markets risks, since it relies on debt, property-level mortgages, and external funding to support acquisitions and development.
- Regional real estate and economic downturnsVaikutus: KorkeaTodennäköisyys: Kohtalainen
Occupancy, rental rates, and property values depend on local market conditions in concentrated states.
Kohdistuu: Eastern United States portfolio concentration
- Debt and mortgage financing riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
The company uses property-level debt and other borrowings, which can pressure cash flow if refinancing is difficult.
Kohdistuu - Dependence on external capitalVaikutus: KeskitasoTodennäköisyys: Kohtalainen
Acquisitions, redevelopment, and growth initiatives require access to equity and debt markets.
Kohdistuu - Cybersecurity and data privacy incidentsVaikutus: KeskitasoTodennäköisyys: Matala
The business stores sensitive tenant, vendor, and employee data across internal and third-party systems.
Kohdistuu: Property management and financing systems
- Opportunity Zone Fund qualification riskVaikutus: KeskitasoTodennäköisyys: Matala
Tax benefits depend on compliance with detailed IRS rules for qualified opportunity zone investments.
Kohdistuu
Kirjanpito
Harkinnanvaraiset erätCommunity values and redevelopment assumptions affect asset carrying values and potential impairment charges.
Vaikutus: Property values, depreciation, and impairment risk
Sales, cost of sales, and financing income must be recognized consistently across home sales and rental programs.
Vaikutus: Revenue timing and gross profit
FFO and Community NOI are central to analyzing operating performance beyond GAAP net income.
Vaikutus: Comparability and operating trend analysis
Borrowings, refinancing, and related interest expense affect leverage and distributable cash flow.
Vaikutus: Interest expense and liquidity analysis
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
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Päivitetty: 24.9.2026