(UMH) UMH Properties - Overview
Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 1.303m USD | Total Return: -5.4% in 12m
Avg Turnover: 12.2M
Qual. Beats: 0
Rev. Trend: 99.7%
Qual. Beats: 0
Warnings
P/E ratio 153.0
High Debt/EBITDA (5.7) with thin interest coverage (1.6)
Altman Z'' 0.63 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Confidence
UMH Properties, Inc. (NYSE: UMH) is a public equity REIT established in 1968 that specializes in the ownership and operation of manufactured home communities. The portfolio currently consists of 145 communities across 12 states, primarily in the Northeast, Midwest, and Southeast. The company manages approximately 27,000 developed homesites, including a significant rental home component and self-storage units.
The business model focuses on providing affordable workforce housing, a sector characterized by high barriers to entry due to restrictive zoning laws for new manufactured home developments. Unlike traditional apartment REITs, manufactured home operators often benefit from lower turnover costs since residents frequently own the structure while leasing the underlying land. UMH also utilizes joint ventures to expand its footprint in key markets like Florida and Pennsylvania.
Investors can evaluate the long-term sustainability of these rental yields by reviewing the detailed financial metrics available on ValueRay. The company remains concentrated on geographic expansion and the conversion of vacant sites into income-producing rental units.
- Occupancy growth and rental rate increases drive core funds from operations
- Expansion of rental home portfolio enhances recurring revenue and asset utilization
- Interest rate fluctuations impact cost of debt and property acquisition financing
- Development of vacant land bank provides long-term net asset value appreciation
- Increasing demand for affordable housing boosts manufactured home sales and site occupancy
| Net Income: 29.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.27 > 1.0 |
| NWC/Revenue: 46.40% < 20% (prev 74.80%; Δ -28.39% < -1%) |
| CFO/TA 0.07 > 3% & CFO 111.1m > Net Income 29.4m |
| Net Debt (696.0m) to EBITDA (121.8m): 5.71 < 3 |
| Current Ratio: 7.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (85.4m) vs 12m ago 2.44% < -2% |
| Gross Margin: 41.72% > 18% (prev 0.55%; Δ 4.12k% > 0.5%) |
| Asset Turnover: 16.46% > 50% (prev 15.76%; Δ 0.70% > 0%) |
| Interest Coverage Ratio: 1.64 > 6 (EBITDA TTM 121.8m / Interest Expense TTM 32.8m) |
| A: 0.07 (Total Current Assets 143.4m - Total Current Liabilities 19.8m) / Total Assets 1.69b |
| B: -0.02 (Retained Earnings -25.4m / Total Assets 1.69b) |
| C: 0.03 (EBIT TTM 53.9m / Avg Total Assets 1.62b) |
| D: -0.02 (Book Value of Equity -16.9m / Total Liabilities 791.6m) |
| Altman-Z'' = 0.63 = B |
| DSRI: 1.03 (Receivables 106.0m/94.7m, Revenue 266.4m/244.1m) |
| GMI: 1.32 (GM 41.72% / 54.95%) |
| AQI: 1.05 (AQ_t 0.89 / AQ_t-1 0.85) |
| SGI: 1.09 (Revenue 266.4m / 244.1m) |
| TATA: -0.05 (NI 29.4m - CFO 111.1m) / TA 1.69b) |
| Beneish M = -2.67 (Cap -4..+1) = A |
As of May 30, 2026, the stock is trading at USD 15.02 with a total of 649,845 shares traded.
Over the past week, the price has changed by -2.78%,
over one month by -1.13%,
over three months by +1.10% and
over the past year by -5.37%.
UMH Properties has received a consensus analysts rating of 4.22. Therefore, it is recommended to buy UMH.
- StrongBuy: 5
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 19.4 | 29.4% |
P/E Trailing = 153.0
P/E Forward = 128.2051
P/S = 4.8997
P/B = 2.3089
P/EG = 0.7224
Revenue TTM = 266.4m USD
EBIT TTM = 53.9m USD
EBITDA TTM = 121.8m USD
Long Term Debt = 759.9m USD (from longTermDebt, last quarter)
Short Term Debt = 54.4m USD (from shortTermDebt, last fiscal year)
Debt = 759.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 696.0m USD (calculated: Debt 759.9m - CCE 63.8m)
Enterprise Value = 2.00b USD (1.30b + Debt 759.9m - CCE 63.8m)
Interest Coverage Ratio = 1.64 (Ebit TTM 53.9m / Interest Expense TTM 32.8m)
EV/FCF = 23.06x (Enterprise Value 2.00b / FCF TTM 86.7m)
FCF Yield = 4.34% (FCF TTM 86.7m / Enterprise Value 2.00b)
FCF Margin = 32.54% (FCF TTM 86.7m / Revenue TTM 266.4m)
Net Margin = 11.04% (Net Income TTM 29.4m / Revenue TTM 266.4m)
Gross Margin = 41.72% ((Revenue TTM 266.4m - Cost of Revenue TTM 155.3m) / Revenue TTM)
Gross Margin QoQ = 55.36% (prev 3.08%)
Tobins Q-Ratio = 1.18 (Enterprise Value 2.00b / Total Assets 1.69b)
Interest Expense / Debt = 4.32% (Interest Expense 32.8m / Debt 759.9m)
Taxrate = 21.0% (US default 21%)
NOPAT = 42.6m (EBIT 53.9m * (1 - 21.00%))
Current Ratio = 7.25 (Total Current Assets 143.4m / Total Current Liabilities 19.8m)
Debt / Equity = 0.85 (Debt 759.9m / totalStockholderEquity, last quarter 894.4m)
Debt / EBITDA = 5.71 (Net Debt 696.0m / EBITDA 121.8m)
Debt / FCF = 8.03 (Net Debt 696.0m / FCF TTM 86.7m)
Total Stockholder Equity = 914.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.82% (Net Income 29.4m / Total Assets 1.69b)
RoE = 3.13% (Net Income TTM 29.4m / Total Stockholder Equity 939.5m)
RoCE = 3.17% (EBIT 53.9m / Capital Employed (Equity 939.5m + L.T.Debt 759.9m))
RoIC = 2.54% (NOPAT 42.6m / Invested Capital 1.68b)
WACC = 5.25% (E(1.30b)/V(2.06b) * Re(6.32%) + D(759.9m)/V(2.06b) * Rd(4.32%) * (1-Tc(0.21)))
Discount Rate = 6.32% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 11.23%
[DCF] Terminal Value 77.97% ; FCFF base≈82.1m ; Y1≈94.2m ; Y5≈138.6m
[DCF] Fair Price = 16.32 (EV 2.09b - Net Debt 696.0m = Equity 1.39b / Shares 85.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.37 | # QB: 0
Revenue Correlation: 99.74 | Revenue CAGR: 9.22% | SUE: -0.14 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.02 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.03 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=0.14 | Chg30d=+30.19% | Revisions=+14% | GrowthEPS=+97.1% | GrowthRev=+7.7%
EPS next Year (2027-12-31): EPS=0.18 | Chg30d=+58.87% | Revisions=+20% | GrowthEPS=+30.4% | GrowthRev=+6.8%
[Analyst] Revisions Ratio: +20%