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
UMH Properties, Inc. (UMH) Stock Analysis
Breakout setup
Real Estate · REIT - Residential
Sell if holding. At $15.54, A.R:R 1.4:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 7.1%; Consecutive earnings misses (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. At $15.54, A.R:R 1.4:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 7.1%; Consecutive earnings misses (2). Chart setup: Golden cross, above all MAs, RSI 54, MACD bullish. Score 5.8/10, moderate confidence.
Passes 4/8 gates (clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. 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 2026-07-25Recent Developments — UMH Properties, Inc.
Latest news
- NEWS UMH Properties Q1 earnings preview - MSN — MSN neutral
- NEWS TABR Capital Management LLC Buys New Position in UMH Properties, Inc. $UMH - MarketBeat — MarketBeat positive
- NEWS UMH Properties, Inc. 6.375% Series D Cumulative Redeemable Preferred Stock, Liquidation Preference $25 per share (UMH/PD — Minichart neutral
- NEWS UMH Properties declares $0.225 dividend - MSN — MSN neutral
- NEWS UMH Preferred: A 7.3% Yield And A Discount To Par (NYSE:UMH.PR.D) - Seeking Alpha — Seeking Alpha positive
Generated 2026-07-25T20:22:08Z.
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.
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Rating Breakdown
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Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $15.54, A.R:R 1.4:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 7.1%; Consecutive earnings misses (2). Chart setup: Golden cross, above all MAs, RSI 54, MACD bullish. Prior stop was $14.96. Score 5.8/10, moderate confidence.
Take-profit target: $16.64 (+7.1% upside). Prior stop was $14.96. Stop-loss: $14.96.
Thin upside margin: 7.1%; Consecutive earnings misses (2).
UMH Properties, Inc. trades at a P/E of 155.4 (forward 91.4). TrendMatrix value score: 5.5/10. Verdict: Sell.
12 analysts cover UMH with a consensus score of 4.0/5. Average price target: $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.