UMH Properties Inc. Common Stock (UMH)

FairStock Score: 31/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at UMH as a manufactured-housing REIT with a real but not impregnable niche. It owns 145 communities and about 27,100 developed homesites, including 11,200 rental homes and over 1,000 self-storage units. That scale and the high cost of replacing communities give some staying power, but the rental-home model consumes capital and is more cyclical than simply leasing land. The filed record shows improvement: revenue rose from $31.2M in fiscal year 2023 ended 2023-12-31 to $33.5M in fiscal year 2024 ended 2024-12-31 and $35.0M in fiscal year 2025 ended 2025-12-31; net income went from $7.9M to $21.4M to $26.3M; diluted EPS moved from -$0.15 to $0.03 to $0.07. That is why the supplied Lynch category is TURNAROUND, returned to profit after a loss within the last three years. Still, the move is recent and uneven. Piotroski is 6/9, moderate; Altman Z is 1.13, a FairStock calculation, which is not comforting. Debt-to-equity is 0.89, so leverage matters. Because this is a REIT, EPS and P/E are distorted by depreciation; the P/E of 126.67 at the 2026-10-13 close is not the right lens. FFO/AFFO are not in the data, so I cannot properly judge REIT earnings or dividend coverage. I fall back on P/B 2.33, dividend yield 5.74%, and the 7.0% FCF yield, a FairStock calculation. The dividend and cash flow are attractive, but price is above book, EV/EBITDA is 15.07, PEG is 2.13, and the FairStock Score is 31/100. The business is improving, but the price already reflects much of that improvement.

In plain English: UMH Properties owns and operates manufactured home communities, mostly renting homesites and homes to residents across many states. The business is producing more profit than a few years ago and pays a sizable dividend, but its debt and valuation look less comfortable. Based on the numbers given, the shares look full or expensive relative to reported profits and accounting value, even though cash flow and the dividend offer some support.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer