UMH
Real EstateUMH Properties, Inc. · REIT - Residential · $1B
What is UMH Properties, Inc.?
UMH Properties is a publicly traded REIT specializing in manufactured home communities across the northeastern and midwestern United States. Organized in 1968, the company has built a long operating history in affordable residential real estate.
UMH owns and operates manufactured home communities, leasing developed homesites to residents who own or rent their homes. Revenue comes primarily from site rents and home sales within its communities. The company also holds a portfolio of REIT securities as a secondary investment strategy. Its communities span New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, and Maryland — markets where affordable housing demand remains persistent.
UMH Properties was incorporated in 1985 and is headquartered in Freehold, New Jersey.
- Manufactured home community ownership and operation
- Homesite leasing across eight states
- Rental home programs within communities
- REIT securities portfolio management
Is UMH a Good Stock to Buy?
UQS Score rates UMH as Below Average overall, reflecting a mixed profile across its five quality pillars.
The Risk pillar stands out as the clearest positive — UMH's business model, anchored by long-term site leases in affordable housing, tends to produce relatively stable cash flows. The Quality and Growth pillars both land at Neutral, suggesting the business is functional but not exceptional by sector standards.
The Moat pillar registers as Weak, indicating limited competitive differentiation relative to larger residential REIT peers. Valuation is Neutral, offering neither a clear discount nor a premium entry point.
Pro members can view the complete pillar breakdown and underlying financial metrics to form a more complete picture. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does UMH pay dividends?
Yes — UMH Properties, Inc. pays a dividend.
UMH pays a regular dividend, consistent with its structure as a REIT — which is required by law to distribute the majority of taxable income to shareholders. The dividend is a central part of the investment case for income-focused investors. Manufactured home community REITs have historically supported dividends through relatively stable rental income streams.
When does UMH report earnings?
UMH Properties reports earnings on a quarterly cadence, typical for US-listed REITs.
Quarterly results for manufactured home REITs are generally driven by occupancy trends, rental rate changes, and home sales activity. UMH's diversified geographic footprint across eight states provides some insulation from localized market softness. For the most current results, the company's investor relations page is the authoritative source.
For the most recent quarter's results, visit UMH Properties' investor relations page directly.
UMH Price History
-7.7% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in UMH Properties, Inc.?
Based on UMH Properties, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
UMH Long-term Outlook
UMH's Growth pillar at Neutral suggests a steady but unspectacular expansion trajectory. The affordable housing segment continues to benefit from broader housing affordability pressures, which may support occupancy and rent growth over time. However, the Weak Moat pillar signals that UMH may struggle to outperform peers with stronger brand, scale, or operational advantages. The Good Risk profile provides some confidence that near-term financial stability is not a primary concern.
Growth drivers
- Persistent demand for affordable housing across its eight-state footprint
- Potential to expand occupancy within existing 23,400 developed homesites
- Rental home program growth within established communities
Key risks
- Limited competitive moat relative to larger, better-capitalized residential REITs
- Interest rate sensitivity common to all leveraged real estate businesses
- Concentration in manufactured housing, a niche segment with regulatory and reputational considerations
UMH vs Peers
UMH operates in a competitive residential REIT landscape alongside companies with differing geographic and asset-type focuses.
Centerspace focuses on apartment communities primarily in the upper Midwest, targeting a different renter demographic than UMH's manufactured housing base.
Veris Residential concentrates on Class A multifamily properties in the New York metro area, competing at a higher price point than UMH's affordable housing communities.
InterRent is a Canadian REIT focused on multi-residential apartment communities, bringing a cross-border dimension to the affordable residential real estate space.
Frequently Asked Questions
What does UMH Properties do?
UMH Properties owns and operates manufactured home communities, providing developed homesites where residents own or rent their homes. The company manages approximately 23,400 homesites across 124 communities in eight states, primarily in the northeastern and midwestern US. It also holds a portfolio of REIT securities as a secondary investment.
Does UMH pay dividends?
Yes, UMH pays a regular dividend. As a REIT, the company is required to distribute the majority of its taxable income to shareholders, making dividend payments a core feature of its investment profile. Income-focused investors often consider manufactured home REITs for their relatively stable distribution history.
When does UMH report earnings?
UMH Properties reports earnings on a quarterly basis, consistent with standard US-listed REIT practice. For exact dates and the most recent results, check UMH's investor relations page, which is updated each quarter.
Is UMH a good stock to buy?
UQS Score rates UMH as Below Average overall. The Risk pillar is a relative strength, while the Moat pillar is Weak. Quality, Growth, and Valuation are all Neutral. Whether UMH fits a portfolio depends on individual goals — Pro members can access the full pillar breakdown to evaluate further.
Is UMH overvalued?
UMH's Valuation pillar is rated Neutral, suggesting the stock is neither clearly cheap nor obviously expensive relative to its fundamentals. Valuation in the REIT sector is often assessed through income-based metrics. The full valuation detail is available to Pro members on UQS Score.
How does UMH compare to its competitors?
UMH focuses on manufactured home communities — a niche within residential real estate — while peers like Veris Residential target luxury multifamily and Centerspace focuses on conventional apartments. This positions UMH in the affordable housing segment, which carries different demand dynamics and margin profiles than higher-end residential REITs.
What is UMH's market cap bracket?
UMH Properties is classified as a small-cap company. This places it well below the scale of the largest residential REITs, which can affect liquidity, analyst coverage, and access to capital markets compared to mega-cap or large-cap peers.
Who founded UMH Properties?
UMH Properties was organized in 1968 and has operated in the manufactured housing sector for decades. Detailed founding history, including key individuals involved, is publicly available through the company's official filings and investor relations materials.
Is UMH a long-term quality investment?
As a long-term quality indicator, UMH's Below Average UQS Score reflects a mixed picture. The Good Risk pillar suggests financial stability, but the Weak Moat pillar raises questions about durable competitive advantage. Long-term investors should weigh the stable income from site leases against limited differentiation in the sector.
What is the main competitive advantage of UMH Properties?
UMH's primary advantage lies in its established portfolio of manufactured home communities in markets with persistent affordable housing demand. Long-term site leases create recurring revenue, and the cost of relocating a manufactured home creates natural resident retention — though the Moat pillar rates this advantage as Weak relative to sector peers.
What sector does UMH belong to?
UMH Properties operates in the Real Estate sector, specifically as a public equity REIT focused on manufactured home communities. Within real estate, manufactured housing is considered a defensive niche due to its affordability positioning relative to traditional single-family or multifamily housing.
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Pro Analysis
UMH — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 7, 2026 | 46.1 | 45.3 | 33.0 | 45.5 | 62.2 | 54.1 | 0.0 |
| May 4, 2026 | 46.1 | 45.3 | 33.0 | 45.5 | 62.2 | 53.8 | +1.0 |
| Apr 26, 2026 | 45.1 | 45.3 | 33.0 | 49.7 | 62.2 | 41.5 | -0.1 |
| Apr 19, 2026 | 45.2 | 45.3 | 33.0 | 49.7 | 62.2 | 42.1 | -0.1 |
| Apr 18, 2026 | 45.3 | 45.3 | 33.0 | 49.7 | 62.2 | 42.6 | +0.4 |
| Apr 14, 2026 | 44.9 | 45.3 | 33.0 | 49.7 | 62.2 | 40.2 | +0.1 |
| Apr 12, 2026 | 44.8 | 45.3 | 33.0 | 49.7 | 62.2 | 39.4 | -0.4 |
| Apr 5, 2026 | 45.2 | 45.3 | 33.0 | 49.7 | 62.2 | 42.2 | +2.9 |
| Apr 2, 2026 | 42.3 | 41.9 | 33.0 | 55.9 | 40.3 | 42.2 | — |
UMH — Pillar Breakdown
Quality
— 47.0/100 (25%)UMH Properties, Inc. has average quality metrics, with room for improvement in margins or capital efficiency.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 45.6/100 (20%)UMH Properties, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 61.8/100 (15%)UMH Properties, Inc. maintains a reasonable risk profile with manageable debt levels.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 63.2/100 (15%)UMH Properties, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 33/100 (25%)UMH Properties, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for UMH.
Score Composition
Financial Data
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How is the UMH UQS Score Calculated?
The UQS (Unified Quality Score) for UMH Properties, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses UMH Properties, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether UMH Properties, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.