Abstract

UMH Properties will release its quarterly results on February 25, 2026 Post Market; this preview summarizes current revenue and EPS projections, last quarter’s margins and GAAP net profit, and prevailing institutional sentiment to frame expectations for near-term performance.

Market Forecast

Consensus tracking of UMH Properties’ internal forecast data points to current-quarter revenue of $68.70 million, up 11.88% year over year, with estimated adjusted EPS of $0.04 and forecast EBIT of $13.03 million; the company has not provided explicit guidance on gross profit margin or net profit margin for the quarter. The main business is expected to benefit from steady lot rent, ongoing occupancy improvements, and gradual normalization in home sales activity. The most promising segment, rental and related, remains the revenue anchor with $57.77 million last quarter and is positioned to track consolidated trends as revenue is forecast to rise 11.88% year over year.

Last Quarter Review

UMH Properties reported last quarter revenue of $66.92 million, a gross profit margin of 53.92%, GAAP net profit attributable to the parent company of $9.34 million, a net profit margin of 13.98%, and adjusted EPS of $0.05; revenue increased 10.30% year over year, while adjusted EPS declined 54.55% year over year. Net profit improved quarter-on-quarter by 21.92%, reflecting stronger operational leverage despite softer per-share results. The main business highlight was rental and related revenue of $57.77 million, supported by community-level fundamentals and overall revenue growth of 10.30% year over year, while manufactured homes contributed $9.15 million.

Current Quarter Outlook

Main Business: Rental and Related Operations

Rental and related revenue has been the core earnings driver, supported by stable lot rents, improving occupancy, and incremental rent increases structurally embedded in leases. With last quarter rental and related revenue of $57.77 million, management’s forecast of consolidated revenue growth of 11.88% year over year suggests continued expansion in this line, aided by organic rent growth and gradual move-in momentum. Margin resilience in the rental base underpins the consolidated gross margin profile, which last quarter stood at 53.92%, and is likely to be supported by a favorable mix toward rentals over homes sold. Key variables for this quarter include the pace of home placements, the timing of lease-ups across communities, and controllable expense disciplines—these will help sustain EBIT near the $13.03 million forecast while anchoring the adjusted EPS estimate of $0.04.

Most Promising Segment: Manufactured Homes Sales

While manufactured homes sales are smaller versus rental revenue, they represent an important lever for incremental occupancy and future rent growth. Last quarter manufactured homes revenue was $9.15 million, and activity in this line contributes to filling sites, which subsequently transitions into recurring rental income. The trajectory of manufactured homes sales this quarter will be shaped by inventory availability, pricing, and closing cycles; any stabilization after prior volatility could support consolidated revenue growth and aid EBIT progression. Operational execution—efficient sales-to-occupancy conversion, reduced days-to-close, and balanced discounting—will be decisive for sustaining the 11.88% year-over-year revenue growth forecast and improving per-share metrics amid the $0.04 adjusted EPS estimate.

Stock Price Drivers This Quarter

Investor focus is likely to center on whether UMH Properties can deliver forecast revenue of $68.70 million and translate the 11.88% year-over-year growth into margin consistency in the absence of explicit guidance for gross or net margins. The relationship between EBIT delivery ($13.03 million estimate) and adjusted EPS ($0.04 estimate) will be important for understanding operating leverage and interest expense sensitivity. Stock reaction will also hinge on forward commentary regarding occupancy trends, rent increases, and home sales cadence; evidence of stable lease-up activity and discipline around cost management could offset concerns stemming from last quarter’s adjusted EPS decline of 54.55% year over year.

Analyst Opinions

Institutional commentary captured during the period indicates a cautious stance as Colliers Securities reaffirmed a Hold rating on UMH Properties with a $16.00 price target on November 3, 2025, and this view remains representative of the prevailing tone in the limited coverage observed from January 1, 2026 to February 18, 2026. With cautious views in the majority relative to bullish calls in the available window, the Hold perspective reflects balanced expectations: consolidated revenue is forecast to rise 11.88% year over year to $68.70 million, but the lack of explicit margin guidance and last quarter’s adjusted EPS decline suggest investors may wait for stronger evidence of earnings quality. The core of this cautious outlook is the trade-off between resilient rental income and normalized manufactured homes sales volumes; analysts want to see sustained occupancy improvements and tighter cost control translating into EPS stability. Given last quarter’s net profit improvement quarter-on-quarter and solid gross margin of 53.92%, institutions are watching for confirmation that operational leverage can persist into this quarter, supporting the $13.03 million EBIT forecast without compromising adjusted EPS.