Mission Statement, Vision, & Core Values of UMH Properties, Inc. (UMH)

You're looking beyond the balance sheet to understand the real engine of a Real Estate Investment Trust (REIT)-its foundational principles-and for UMH Properties, Inc., that engine is running hot: Q3 2025 Total Income hit $66.9 million, a 10% jump year-over-year. How does a company that aims to fill the affordable housing gap, managing 145 communities and approximately 27,000 homesites, consistently deliver a $1.00 per diluted share Normalized Funds from Operations (Normalized FFO) guidance for 2025? Digging into their Mission, Vision, and Core Values tells you exactly how they translate a social utility-providing quality, affordable housing-into a 15% rise in Normalized FFO, so let's look at the blueprint.

UMH Properties, Inc. (UMH) Overview

You need a clear picture of UMH Properties, Inc. (UMH), a Real Estate Investment Trust (REIT) focused on the affordable housing sector, and the bottom line is their strategy of acquiring and expanding manufactured housing communities is driving strong, consistent revenue growth in 2025.

UMH Properties has been in business since 1968, providing quality, affordable housing for over five decades. The company, founded by Eugene Landy, is a public equity REIT that specializes in the ownership and operation of manufactured home communities, which are a key solution to America's affordable housing crisis. They went public in 1985 with 13 communities and 2,675 homesites.

Today, UMH's core business revolves around three main segments: leasing homesites, renting manufactured homes, and selling manufactured homes. They own and operate 145 manufactured home communities containing approximately 27,000 developed homesites across 12 states, including New Jersey, Ohio, and Pennsylvania. This focus on land-lease communities provides a stable, recession-resistant income stream. To be fair, this is a niche market, but it's defintely a high-demand one right now.

As of the first nine months of the 2025 fiscal year, UMH has generated a substantial amount of sales. Here's the quick math: Q1 2025 Total Income was $61.2 million, Q2 2025 Total Income hit $66.6 million, and Q3 2025 Total Income reached $66.9 million. That puts the year-to-date (YTD) Total Income at a solid $194.7 million through September 30, 2025.

2025 Financial Performance: Record-Breaking Momentum

The latest financial reports for UMH Properties show clear operational strength, with key metrics like income and same-property performance all moving in the right direction. The company's total income for the third quarter of 2025 was $66.9 million, marking a 10% increase compared to the same period in 2024. This growth is a direct result of their strategy to increase occupancy and rental rates.

The company's main product sales-manufactured home sales-have been particularly strong. In Q2 2025, UMH reported a quarterly sales record with gross home sales revenue of approximately $10.5 million. This is a 17% increase year-over-year, showing that demand for their affordable homeownership and rental programs is accelerating.

More importantly, the underlying operational performance is excellent. Normalized Funds from Operations (Normalized FFO), a key metric for REITs that basically tells you how much cash flow the properties are generating, rose to $21.3 million in Q3 2025, an aggregate increase of 15%. Also, same-property Net Operating Income (NOI) grew by 12.1% in Q3 2025, and same-property occupancy rose by 110 basis points to 88.5%. That's a clear signal of efficient management and strong market demand.

• Q3 2025 Total Income: $66.9 million (+10% YoY).
• Q3 2025 Normalized FFO: $21.3 million (+15% aggregate).
• Q2 2025 Home Sales Revenue: $10.5 million (Quarterly Record).
• Same-Property NOI Growth: 12.1% (Q3 2025).

A Leader in the Affordable Housing Sector

UMH Properties is a recognized leader in the manufactured housing community (MHC) sector, which is an increasingly vital part of the US housing market. They have been honored multiple times as the Manufactured Housing Institute's (MHI) Community Operator of the Year, a testament to their operational excellence and commitment to the asset class. They understand that manufactured homes satisfy a fundamental need: quality affordable housing.

Their scale is significant, with 145 communities and 27,000 homesites, but their real edge is their development pipeline and focus on filling vacant sites. They are actively converting inventory into revenue-generating rental homes, which is the engine for their same-property growth. This strategy of acquiring, improving, and expanding communities is what drives their long-term success. If you want to understand the mechanics of this growth, you should look deeper into their investor profile. Exploring UMH Properties, Inc. (UMH) Investor Profile: Who's Buying and Why?

UMH Properties, Inc. (UMH) Mission Statement

You're looking for the bedrock of a company's long-term value, and for UMH Properties, Inc., that foundation is a clear, dual-focused mission. It's not just about collecting rent; it's about providing essential housing solutions while simultaneously generating strong returns for shareholders. This mission is the lens through which every acquisition, development, and operational decision is made, acting as a crucial guide for their capital allocation strategy.

Honestly, a mission statement that doesn't map to clear actions is just corporate wallpaper. UMH's mission, however, directly addresses a massive market need-America's affordable housing crisis-and their 2025 performance shows they are executing on it. For the third quarter of 2025 alone, UMH reported a 10% increase in total income, reaching $66.9 million, which is a tangible result of their mission-driven growth. This tells you the strategy is working.

To be fair, the mission is complex, but it boils down to three core components that define their business model. You can explore the company's strategic direction further by reading UMH Properties, Inc. (UMH): History, Ownership, Mission, How It Works & Makes Money.

1. Delivering the Best Value in Affordable Housing

The first component of the mission is to provide America's workforce with the best value in housing, whether through renting or buying a manufactured home. This is the core of their social mission: filling the gap in affordable housing. The need is staggering, so UMH focuses on building low-cost, high-quality, well-managed communities.

Here's the quick math on their commitment: UMH's strategy is to increase supply and improve quality. They aim to add between 700 to 800 new rental homes to their portfolio in 2025. This focus on supply is directly reflected in their operational performance. Same-property Net Operating Income (NOI) saw a robust increase of 9.9% in Q2 2025, driven by strong demand and effective pricing strategies, including a portfolio-wide 5% rent increase with no reported resistance. That kind of NOI growth proves that residents are seeing the value in what they are paying for. They are the low-cost producer of a quality product, and that defintely wins.

• Add 700-800 new rental homes in 2025.
• Achieved 9.9% Same-Property NOI increase in Q2 2025.
• Rental home occupancy held strong at 94.4% in Q2 2025.

2. Building Sustainable, Contemporary Communities

The mission extends beyond just affordability to encompass sustainability and community quality-building contemporary communities where residents are happy to call home. This isn't just a feel-good statement; it's a long-term risk mitigation and value-add strategy. They are actively investing in environmentally friendly initiatives that conserve energy and natural resources, which ultimately lowers operating costs and improves the resident experience.

For example, UMH is an early adopter of factory-installed solar shingle homes and is retrofitting community buildings. By late 2023, 113 of their 141 communities had completed retrofits that include LED lights and smart thermostats on all community buildings and streetlights. Furthermore, they use sub-metering projects and leak detection technology to conserve water resources, with 84% of their communities sub-metered for water and sewer use. This commitment to quality is what drives their strong occupancy, which stood at 88.2% for same-store communities in Q2 2025.

3. Enriching the Lives of All Stakeholders

The final core component is a commitment to enriching the lives of all stakeholders, which includes residents, employees, neighbors, and, critically, shareholders. This is where their high corporate governance and investor relations come into play. The best form of good corporate governance is returning capital, and UMH has been proud to increase their dividend for a third consecutive year.

For investors, this commitment translates into financial stability and growth. The company maintained its full-year 2025 Normalized Funds from Operations (FFO) guidance between $0.96 and $1.04 per diluted share. Plus, their operational strength is creating significant value; a Q2 2025 refinancing of 10 communities implied a $97 million value increase over their cost basis. This focus on fair dealing and strong returns ensures that the social mission and financial success are completely aligned.

UMH Properties, Inc. (UMH) Vision Statement

You're looking for the real engine behind UMH Properties, Inc. (UMH), not just the quarterly earnings report. The core takeaway is simple: UMH's vision is a dual mandate-to solve the affordable housing crisis while simultaneously delivering superior financial results to shareholders. This isn't just corporate fluff; their operations in 2025 defintely show this tightrope walk in action.

The Dual Mandate: Affordable Housing and Shareholder Value

UMH's mission explicitly combines social utility with financial performance: they aim to provide quality affordable housing to residents and deliver industry-leading results to shareholders. This means their growth strategy is inherently tied to the persistent demand for low-cost housing in the US. The financial results from 2025 show they are executing on the second part of that mandate.

For the trailing twelve months ending September 30, 2025, the company's Normalized Funds from Operations (Normalized FFO) is on pace for approximately $84 million. This is the key metric for a REIT (Real Estate Investment Trust), showing the cash flow generated from operations. Here's the quick math: Normalized FFO per diluted share for the third quarter of 2025 was $0.25, a 4% year-over-year increase. Total income for the third quarter of 2025 also grew by 10% to $66.9 million. This growth is a direct result of their focus on filling vacant sites and increasing rents.

• Total Income Q3 2025: $66.9 million
• Normalized FFO Q3 2025: $21.3 million
• Normalized FFO per Share Growth: Up 4% Y/Y

Building Sustainable, Contemporary Communities

The vision also centers on the physical product: building and maintaining contemporary communities where residents are happy to call home. This isn't just about collecting rent; it's about providing a quality, low-cost product that competes with site-built homes. UMH is the low-cost producer of quality housing, often offering 1,000 to 2,400 square foot homes on a 5,000 square foot lot. This is what makes the business model resilient.

As of the third quarter of 2025, UMH owns and operates 141 manufactured home communities with approximately 26,500 developed homesites across 12 states. They've been aggressively converting inventory to revenue-generating rentals, adding 528 new homes year-to-date in 2025. This focus on growth-through-rental is paying off. Their rental home portfolio now stands at approximately 10,800 homes, maintaining a strong occupancy rate of 94.1%. That's a powerful number in any housing market, and it shows the underlying demand for their product. You can dive deeper into the market dynamics in Exploring UMH Properties, Inc. (UMH) Investor Profile: Who's Buying and Why?

Enriching Stakeholders and ESG Commitment

A key component of the UMH vision is enriching the lives of all stakeholders-employees, residents, neighbors, and shareholders. This translates into a strong commitment to Environmental, Social, and Governance (ESG) principles, which is increasingly critical for institutional investors.

Their entire income is deemed 'social' by key rating agencies like Sustainalytics, MSCI, and HUD, because their primary business is providing housing affordable to low-income earners. On the financial side, they are committed to returning capital. They successfully issued approximately $80.2 million in 5.85% Series B Bonds due 2030 in the third quarter of 2025, demonstrating access to capital for growth and stability. This capital is being deployed to acquire new communities, like the two in Maryland for $14.6 million in Q3 2025. This blend of social mission and disciplined capital deployment is how they plan to continue increasing earnings per share and market value.

Their operational success, like the 12% year-over-year increase in Same Property Net Operating Income (NOI), directly supports the ability to maintain a consistent dividend and invest in community upgrades, which is the ultimate proof point of their stakeholder-enrichment vision.

UMH Properties, Inc. (UMH) Core Values

You want to understand the true engine behind UMH Properties, Inc. (UMH), beyond the stock ticker. Honestly, the company's long-term success isn't just about their real estate investment trust (REIT) status; it's defintely grounded in three core values that dictate every move, from acquisitions to community management. These values map directly to their focus on manufactured housing, a critical piece of the affordable housing puzzle in the US.

For a deeper dive into their operational history and business model, you can check out UMH Properties, Inc. (UMH): History, Ownership, Mission, How It Works & Makes Money. But here's the quick math: UMH's ability to consistently grow same-property occupancy-which hit 88.5% in Q3 2025-is a direct result of executing on these principles.

Affordable Housing and Social Impact

This is the bedrock of UMH's business. Their mission is to fill the gap in affordable housing, and they treat it as an obligation, not just a market opportunity. This value is why 100% of their income is considered social by entities like Sustainalytics and MSCI. They know that providing quality, low-cost housing is the quickest way to create wealth for residents, and that's just good business.

In 2025, UMH has proven this commitment with concrete, measurable actions. They are developing new communities, like River Bluff Estates in Memphis, Tennessee, where they are offering homes for sale for under $200k, providing a much-needed alternative to expensive traditional housing. Plus, as of January 1, 2025, they launched a program offering a 5% discount on monthly rent for active and retired military, police officers, and firefighters who sign a 12-month lease on a rental home. That's a direct financial benefit for community heroes.

• Offer homes for sale under $200k in new developments.
• Provide 5% rent discount to first responders and military.
• Convert 188 new homes to rental properties in Q2 2025.

Sustainable Community Development

The second core value is a commitment to creating sustainable, environmentally friendly communities. This isn't just about greenwashing; it's about long-term operational efficiency and a better quality of life for residents. They know that a well-maintained, resource-efficient community holds its value better and attracts stable residents. You can't maximize returns from a deteriorating asset.

UMH actively invests in initiatives that conserve energy and natural resources, aligning with the U.N. Sustainable Development Goals. For example, they've contracted GLYNT.AI, Inc. to aggregate and analyze over 75,000 energy, water, and waste invoices, giving them data-driven insights to cut down on consumption across all properties. They also focus on acquiring and upgrading older communities-the value-add strategy-which preserves existing housing stock and avoids the social cost of community deterioration in depressed markets.

Financial Discipline and Stakeholder Value

As a seasoned analyst, you know a REIT must deliver for its shareholders. UMH's third value is the disciplined pursuit of growth and value for all stakeholders: residents, employees, and investors. The operational metrics from 2025 show this value in action.

Their focus on increasing occupancy and rental rates is driving significant financial performance. In Q3 2025, UMH reported a 10% increase in total income, reaching $66.9 million. Even more telling is the 15% rise in normalized Funds From Operations (FFO) during the same quarter, which is a key indicator of a REIT's operating performance. They are also expanding strategically, having acquired five communities year-to-date as of October 2025, totaling 587 sites for a purchase price of $41.7 million, showing capital deployment discipline in value-add opportunities. They are back on track to hit their target of adding 800 new rental units in 2025, which is a clear, actionable goal that translates directly to future earnings.