UMH Properties offers strong growth scoring and analyst consensus upside of 29%, with an exceptional free cash flow conversion of 269% of net income that is characteristic of well-run residential REITs, but negative price momentum and consecutive earnings misses in 2 of the last 4 quarters introduce near-term headwinds.
Thesis pillars
- Exceptional Fcf Conversion Reit→Stable
- Strong Growth Profile Earnings→Stable
- Momentum Below Threshold Negative→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 25, 2026· older than 90 days
UMH Properties, Inc. (UMH) Stock Analysis
Range Bound setup
Real Estate · REIT - Residential
Sell if holding. Multiple concerning factors at $15.27: Thin upside margin: 7.5%; Sector modifier (Real Estate): -1.2.
UMH Properties is a self-administered REIT that owns and operates 145 manufactured home communities across twelve states in the Eastern, Midwestern, and Southeastern United States, totaling approximately 27,100 developed homesites. The company earns revenue by leasing homesites... Read more
Sell if holding. Multiple concerning factors at $15.27: Thin upside margin: 7.5%; Sector modifier (Real Estate): -1.2. Chart setup: RSI 51 mid-range, Bollinger mid-band. Score 6.1/10, moderate confidence.
Passes 6/7 gates (positive momentum, favorable risk/reward ratio, clean insider activity, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About UMH Properties, Inc.
About UMH Properties, Inc.
UMH Properties owns 145 manufactured home communities comprising approximately 27,100 developed homesites across twelve states concentrated in the Eastern, Midwest, and Southeast United States. Roughly 41% of those homesites, or about 10,900 homes, are company-owned rental units leased directly to residents, while the remainder are ground-leased sites where residents own their manufactured homes. Three additional communities are held through a 40%-owned joint venture with Nuveen Real Estate.
UMH earns revenue primarily from monthly site rent under annual or month-to-month leases, supplemented in some states by 25-year leases that cap annual rent increases at 5% or CPI, whichever is greater. Beyond site rent, the company earns rental income on roughly 10,900 company-owned manufactured homes and, through its wholly owned taxable subsidiary UMH Sales and Finance, sells and finances manufactured homes for placement within its communities, with financing administered through a third-party lending relationship with Triad Financial Services. The company also holds a portfolio of REIT equity securities representing about 1.1% of undepreciated assets, and finances acquisitions and development through a mix of secured and unsecured debt, joint venture capital from Nuveen Real Estate, and equity issuance. UMH has approximately 2,300 acres of additional land available for future community expansion and budgeted $40 million to $50 million for property renovations in 2026.
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UMH's risk profile is concentrated along two axes rather than diversified across property types or regions: the 10-K states that the company's investments are 'primarily concentrated in the manufactured housing/residential sector,' exposing it to sector-specific downturns more than a diversified REIT, while its property footprint is geographically concentrated in the Eastern United States, leaving occupancy and rental rates tied to the health of a handful of regional economies rather than a national spread. New Jersey compounds that exposure: statewide rent control taking effect March 1, 2026 will cap rent increases across all of the company's New Jersey communities, one of the states where UMH already had three communities subject to local rent control.
See also: Real Estate · REIT - Residential
From UMH Properties, Inc.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated Nov 3, 2026Recent Developments — UMH Properties, Inc.
Latest news
- NEWS UMH Properties Q3FY26 Results: FFO $0.26 inline, sales beat by 8% - scanx.trade — scanx.trade Nov 3, 2026 positive
- NEWS UMH Properties earnings missed by $0.06, revenue topped estimates - Investing.com — Investing.com Nov 3, 2026 negative
- NEWS UMH Properties, Inc. $UMH Stock: D.A. Davidson & CO. Boosts Stake - MarketBeat — MarketBeat Oct 29, 2026 positive
- NEWS How Activist Presentation Will Impact UMH Properties Stock Investors - Simply Wall St — Simply Wall St Oct 27, 2026 neutral
- NEWS How Activist Presentation Will Impact UMH Properties Stock Investors - Simply Wall Street — Simply Wall Street Oct 27, 2026 neutral
Latest item Nov 3, 2026 · Generated 2026-11-03T11:39:30Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMPropertymanufactured housing/residential sector10-K Item 1A: 'Our investments in real estate assets are primarily concentrated in the manufactured housing/residential sector.'
- MEDIUMGeographicEastern United States10-K Item 1A: 'As a result of the geographic concentration of our properties in the Eastern United States, we are exposed to the risks of downturns in the local economy'
Material Events(8-K, last 90d)
- 2026-05-29Item 5.02MEDIUMCFO Anna T. Chew announced retirement effective June 1, 2026; she remains an employee in an advisory role and on the Board. Kevin S. Miller, previously CFO of the UMH OZ Fund, was named her successor as EVP, CFO and Treasurer. No disagreement cited.SEC filing →
- 2026-06-23Item 5.02LOWThe company entered a formal employment agreement with newly appointed CFO Kevin Miller effective June 1, 2026, setting a $430,000 base salary and a target annual bonus of 60% of base salary.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
10 dimensions · all in-band
Price Targets
Position Sizing
Analyst Consensus
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Multiple concerning factors at $15.27: Thin upside margin: 7.5%; Sector modifier (Real Estate): -1.2. Chart setup: RSI 51 mid-range, Bollinger mid-band. Prior stop was $14.65. Score 6.1/10, moderate confidence.
Analyst target: $16.42 (+7.5% upside). Prior stop was $14.65. Stop-loss: $14.65.
Thin upside margin: 7.5%; Sector modifier (Real Estate): -1.2; Consecutive earnings misses (2).
UMH Properties, Inc. trades at a P/E of 127.3 (forward 89.8). TrendMatrix value score: 5.5/10. Verdict: Sell.
13 analysts rate UMH, with a consensus score of 4.0/5. 8 analysts publish price targets averaging $19.
What does UMH Properties, Inc. do?UMH Properties is a self-administered REIT that owns and operates 145 manufactured home communities across twelve...
UMH Properties is a self-administered REIT that owns and operates 145 manufactured home communities across twelve states in the Eastern, Midwestern, and Southeastern United States, totaling approximately 27,100 developed homesites. The company earns revenue by leasing homesites and manufactured homes to residents and, through its taxable subsidiary UMH Sales and Finance, by selling and financing manufactured homes within its communities.