UMH Properties, Inc. (UMH) 10-Year Financial Performance & Capital Metrics

UMH • • REIT / Real Estate

Real EstateResidential REITsManufactured Housing CommunitiesManufactured Home Community Operators

AboutUMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities.Show more

Revenue $241M +8.9%
FFO $82M +28.5%
FFO/Share 1.09 +8.2%
FFO Payout 72.15% -6.3%
FFO per Share 1.09 +8.2%
NOI Margin 54.58% +1.8%
FFO Margin 34.04% +18.0%
ROE 2.67% +109.4%
ROA 1.45% +150.3%
Debt/Assets 39.31% -18.7%
Net Debt/EBITDA 5.01 -27.2%
Book Value/Share 12.23 +9.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FFO growing 5.9% TTM
✓Sustainable FFO payout ratio of 72.2%
✓Healthy dividend yield of 4.8%
✓Trading at only 1.3x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.1%
✗Dividend payout exceeds 100% of earnings
✗Shares diluted 18.8% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y12.91%

5Y10.41%

3Y8.93%

TTM8.91%

Profit (Net Income) CAGR

10Y17.71%

5Y-4.86%

3Y-24.9%

TTM-3.7%

EPS CAGR

10Y-

5Y-32.18%

3Y-63.16%

TTM-40.73%

ROCE

10Y Avg2.42%

5Y Avg2.7%

3Y Avg2.61%

Latest2.88%

Peer Comparison

Manufactured Home Community Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UMHUMH Properties, Inc.	1.4B	16.42	497.58	8.88%	10.47%	2.9%	5.83%	0.67
SUISun Communities, Inc.	15.73B	127.40	179.44	0.67%	40.68%	14.37%	5.65%	1.02
ELSEquity LifeStyle Properties, Inc.	12.04B	62.13	31.70	2.07%	26.26%	21.09%	2.95%	1.76

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	81.52M	99.21M	112.65M	129.59M	146.59M	163.61M	186.12M	195.78M	220.93M	240.55M
Revenue Growth %	0.14%	0.22%	0.14%	0.15%	0.13%	0.12%	0.14%	0.05%	0.13%	0.09%
Property Operating Expenses	42.11M	49.1M	56.32M	64.66M	74.65M	77.59M	88.14M	93.22M	102.43M	109.25M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	29.01M	34.07M	40.3M	46.35M	51.94M	57.7M	64.03M	73.03M	82.37M	88.84M
G&A Expenses	10.13M	10.86M	12.74M	14.65M	15.13M	16M	18.9M	24.26M	26.65M	27.76M
EBITDA+	34.27M	110.68M	125.71M	143.06M	56.82M	70.02M	79.08M	78.29M	91.84M	102.7M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	18.88M	83.71M	97.17M	163.24M	36.81M	41.71M	45.12M	48.77M	55.72M	60.24M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	15.39M	26.97M	28.55M	-20.18M	20.01M	28.31M	33.96M	29.52M	36.12M	42.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	14.07M	15.43M	15.88M	16.04M	17.8M	18.29M	19.16M	26.44M	32.48M	27.29M
Interest Coverage	1.09x	1.75x	1.80x	-1.26x	1.12x	1.55x	1.77x	1.12x	1.11x	1.56x
Non-Operating Income	13.06M	0	0	38.75M	-25.55M	4.97M	-36.29M	8.06M	-4.2M	-6.27M
Pretax Income+	2.14M	11.53M	12.67M	-36.22M	27.75M	5.05M	51.09M	-4.97M	7.85M	21.44M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	13.25M	15.43M	15.88M	16.04M	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	2.14M	11.53M	12.67M	-36.22M	27.75M	5.05M	51.09M	-4.85M	8.01M	21.64M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.49%	4.38%	0.1%	-3.86%	1.77%	-0.82%	9.11%	-1.1%	2.65%	1.7%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.08%	3.53%	0.15%	0.16%	-0.49%	-0.28%	1.06%	-0.54%	0.45%	0.28%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	-0.24	-0.09	-0.24	-0.98	0.23	-0.34	0.66	-0.58	-0.14	0.03
EPS Growth %	-0.6%	0.63%	-1.67%	-3.08%	1.23%	-2.48%	2.94%	-1.88%	0.76%	1.24%
EPS (Basic)	-0.24	-0.09	-0.24	-0.98	0.23	-0.34	0.68	-0.58	-0.14	0.03
Diluted Shares Outstanding	25.97M	27.81M	32.68M	36.87M	40.2M	41.4M	47.43M	54.39M	63.07M	74.91M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	604.03M	680.44M	823.88M	878.99M	1.03B	1.09B	1.27B	1.34B	1.43B	1.56B
Asset Growth %	0.26%	0.13%	0.21%	0.07%	0.17%	0.06%	0.17%	0.06%	0.06%	0.1%
Real Estate & Other Assets+	395.37M	405.98M	474.82M	598.37M	704.87M	894.1M	947.97M	1.09B	69.12M	1.27B
PP&E (Net)	13.7M	14.99M	16.87M	18.79M	5.35M	4.94M	4.97M	5.32M	1.16B	6.36M
Investment Securities	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Total Current Assets+	119.95M	150.72M	199.23M	162.23M	199.05M	190.37M	308.94M	227.7M	205.84M	258.25M
Cash & Equivalents	6.54M	4.22M	23.24M	7.43M	12.9M	15.34M	116.17M	29.79M	57.32M	99.72M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	-75.01M	0	0	0	-10.76M	-19.98M	-17.14M	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Total Liabilities	357.79M	363.41M	402.67M	454.29M	479.11M	587.61M	528.68M	793.4M	720.78M	647.82M
Total Debt+	344.62M	351.31M	389.6M	439.08M	457.34M	558.49M	499.32M	899.7M	690.02M	614.72M
Net Debt	338.09M	347.09M	366.36M	431.64M	444.44M	543.15M	383.15M	869.91M	632.7M	515M
Long-Term Debt	344.62M	351.31M	389.6M	439.08M	457.34M	558.49M	499.32M	761.68M	690.02M	614.72M
Short-Term Borrowings	1000K	1000K	0	1000K	0	0	0	1000K	0	0
Capital Lease Obligations	0	186.63M	238.78M	288.78M	0	0	0	0	3.6M	0
Total Current Liabilities+	9.51M	7.78M	7.94M	9.37M	15.15M	21.69M	21.44M	23.24M	21.22M	23.07M
Accounts Payable	2.82M	2.96M	2.96M	3.87M	4.57M	4.39M	4.27M	6.39M	6.11M	7.98M
Deferred Revenue	-54.94M	-57.78M	-84.85M	0	0	0	0	0	0	0
Other Liabilities	3.65M	4.32M	5.13M	5.84M	6.62M	7.43M	7.92M	8.48M	9.54M	10.03M
Total Equity+	246.24M	664.13M	787.57M	856.34M	546.34M	501.81M	742.14M	551.2M	706.79M	915.91M
Equity Growth %	0.18%	1.7%	0.19%	0.09%	-0.36%	-0.08%	0.48%	-0.26%	0.28%	0.3%
Shareholders Equity	246.24M	317.03M	421.22M	424.7M	546.34M	501.81M	742.14M	548.96M	704.72M	914.03M
Minority Interest	0	347.09M	366.36M	431.64M	0	0	0	2.23M	2.07M	1.88M
Common Stock	2.71M	2.94M	3.55M	3.83M	4.11M	4.19M	5.17M	5.76M	6.8M	8.19M
Additional Paid-in Capital	109.63M	111.42M	168.03M	157.45M	162.54M	115.03M	300.02M	343.19M	433.11M	610.63M
Retained Earnings	-667.79K	-667.79K	-667.79K	-25.36M	-25.36M	-25.36M	-25.36M	-25.36M	-25.36M	-25.36M
Preferred Stock	136.63M	186.63M	238.78M	288.78M	405.05M	407.95M	462.32M	225.38M	290.18M	320.57M
Return on Assets (ROA)	0%	0.02%	0.02%	-0.04%	0.03%	0%	0.04%	-0%	0.01%	0.01%
Return on Equity (ROE)	0.01%	0.03%	0.02%	-0.04%	0.04%	0.01%	0.08%	-0.01%	0.01%	0.03%
Debt / Assets	0.57%	0.52%	0.47%	0.5%	0.45%	0.51%	0.39%	0.67%	0.48%	0.39%
Debt / Equity	1.40x	0.53x	0.49x	0.51x	0.84x	1.11x	0.67x	1.63x	0.98x	0.67x
Net Debt / EBITDA	9.87x	3.14x	2.91x	3.02x	7.82x	7.76x	4.84x	11.11x	6.89x	5.01x
Book Value per Share	9.48	23.88	24.10	23.23	13.59	12.12	15.65	10.13	11.21	12.23

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	25.71M	29.35M	41.34M	40.18M	38.52M	66.84M	65.19M	-7.23M	120.08M	81.6M
Operating CF Growth %	0.06%	0.14%	0.41%	-0.03%	-0.04%	0.74%	-0.02%	-1.11%	17.62%	-0.32%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	2.14M	11.53M	12.67M	-36.22M	27.75M	5.05M	51.09M	-4.97M	7.85M	21.44M
Depreciation & Amortization	18.88M	23.21M	27.56M	31.69M	36.81M	41.71M	45.12M	48.77M	55.72M	60.24M
Stock-Based Compensation	855.77K	1.06M	1.31M	1.61M	1.94M	1.33M	3.45M	4.97M	4.9M	4.78M
Other Non-Cash Items	829.02K	733.49K	660.91K	625.45K	758K	16.91M	-24.99M	19.82M	8.59M	8.08M
Working Capital Changes	2M	-5.82M	2.08M	-10.56M	-15.35M	1.84M	-9.49M	-75.82M	43.02M	-12.95M
Cash from Investing+	-148.67M	-77.57M	-152.92M	-137.6M	-122.35M	-103.77M	-94.39M	-124.88M	-165.57M	-139.87M
Acquisitions (Net)	-78.93M	-4.08M	-61.67M	-55.88M	-38.8M	-5.32M	-27.37M	-75.8M	-11.13M	-4.49M
Purchase of Investments	-23.02M	-27.52M	-45.08M	-18.56M	-1.8M	-1.1M	-18K	-19K	-23K	-24K
Sale of Investments	1000K	1000K	1000K	268.68K	125K	0	1000K	1000K	1000K	36K
Other Investing	777.39K	1.11M	2.3M	-63.44M	-81.88M	-97.34M	-83.84M	-105.2M	-158.74M	-135.39M
Cash from Financing+	121.42M	45.89M	130.6M	82.31M	90.05M	46.53M	125.63M	47.95M	69.06M	102.64M
Dividends Paid	-24.3M	-32.19M	-37.45M	-41.59M	-46.83M	-58.6M	-61.35M	-65.24M	-65.8M	-78.24M
Common Dividends	-16.74M	-17.63M	-20.78M	-21.54M	-21.12M	-26.66M	-31.51M	-40.63M	-49.07M	-59.08M
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K	-1000K	-1000K
Share Repurchases	0	0	-91.59M	0	-237K	-96.86M	0	0	0	0
Other Financing	-2.14M	1.82M	4.8M	636K	1.85M	0	8.43M	-16K	-1.68M	2.27M
Net Change in Cash+	-1.55M	-2.32M	19.03M	-15.11M	6.22M	9.6M	96.43M	-84.15M	23.56M	44.37M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	8.08M	6.54M	4.22M	27.89M	12.78M	19M	28.59M	125.03M	40.88M	64.44M
Cash at End	6.54M	4.22M	23.24M	12.78M	19M	28.59M	125.03M	40.88M	64.44M	108.81M
Free Cash Flow+	-26.43M	-32.56M	-24.55M	40.18M	38.52M	66.84M	65.19M	-7.23M	120.08M	81.6M
FCF Growth %	-0.48%	-0.23%	0.25%	2.64%	-0.04%	0.74%	-0.02%	-1.11%	17.62%	-0.32%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	0.81	3.42	3.36	3.45	1.61	1.13	2.03	0.81	1.01	1.09
FFO Payout Ratio	79.64%	18.51%	18.92%	16.95%	32.71%	57.01%	32.75%	92.52%	77%	72.15%
NOI Margin	48.34%	50.51%	50.01%	50.1%	49.08%	52.57%	52.65%	52.38%	53.63%	54.58%
Net Debt / EBITDA	9.87x	3.14x	2.91x	3.02x	7.82x	7.76x	4.84x	11.11x	6.89x	5.01x
Debt / Assets	57.05%	51.63%	47.29%	49.95%	44.6%	51.26%	39.29%	66.91%	48.33%	39.31%
Interest Coverage	1.09x	1.75x	1.80x	-1.26x	1.12x	1.55x	1.77x	1.12x	1.11x	1.56x
Book Value / Share	9.48	23.88	24.1	23.23	13.59	12.12	15.65	10.13	11.21	12.23
Revenue Growth	14.12%	21.71%	13.54%	15.04%	13.12%	11.61%	13.76%	5.19%	12.85%	8.88%

Frequently Asked Questions

Valuation & Price

UMH Properties, Inc. (UMH) has a price-to-earnings (P/E) ratio of 497.6x. This suggests investors expect higher future growth.

Growth & Financials

UMH Properties, Inc. (UMH) reported $256.7M in revenue for fiscal year 2024. This represents a 553% increase from $39.3M in 2011.

UMH Properties, Inc. (UMH) grew revenue by 8.9% over the past year. This is steady growth.

Yes, UMH Properties, Inc. (UMH) is profitable, generating $26.9M in net income for fiscal year 2024 (9.0% net margin).

Dividend & Returns

Yes, UMH Properties, Inc. (UMH) pays a dividend with a yield of 4.80%. This makes it attractive for income-focused investors.

UMH Properties, Inc. (UMH) has a return on equity (ROE) of 2.7%. This is below average, suggesting room for improvement.

Industry Metrics

UMH Properties, Inc. (UMH) generated Funds From Operations (FFO) of $91.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

UMH Properties, Inc. (UMH) offers a 4.80% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

US Stock Screener

...