UMH Properties (UMH) Financials

$16.25 -0.03 (-0.18%)

Closing price 08/1/2025 03:59 PM Eastern

Extended Trading

$16.10 -0.15 (-0.92%)

As of 08/1/2025 06:30 PM Eastern

Annual Income Statements for UMH Properties

This table shows UMH Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-3.32	-6.12	-2.57	-7.68	-57	2.57	-30	21	-36	-8.71	2.47
Consolidated Net Income / (Loss)	4.24	2.14	12	13	-36	28	5.06	51	-4.97	7.85	21
Net Income / (Loss) Continuing Operations	4.24	2.14	12	13	-36	28	19	51	-4.97	7.85	21
Total Pre-Tax Income	4.23	2.22	12	13	-36	28	19	51	-4.80	7.85	22
Total Revenue	73	82	99	115	132	147	148	188	196	221	241
Net Interest Income / (Expense)	0.00	0.00	0.00	2.01	2.26	0.00	-15	0.00	0.00	0.00	0.00
Total Interest Income	0.00	0.00	0.00	2.01	2.26	0.00	2.92	0.00	0.00	0.00	0.00
Total Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	18	0.00	0.00	0.00	0.00
Total Non-Interest Income	73	82	99	113	130	147	164	188	196	221	241
Other Non-Interest Income	71	82	99	113	130	147	164	186	196	221	241
Total Non-Interest Expense	65	72	83	97	111	127	135	152	166	185	198
Other Operating Expenses	49	52	60	69	79	90	94	107	117	129	138
Depreciation Expense	15	19	23	28	32	37	42	45	49	56	60
Nonoperating Income / (Expense), net	-4.22	-7.42	-4.42	-5.29	-57	7.85	6.45	15	-34	-28	-21
Other Gains / (Losses), net	0.01	-0.08	-0.00	-0.08	-0.13	-0.11	-0.22	-0.17	-0.17	0.00	-0.11
Preferred Stock Dividends Declared	7.56	8.27	14	20	20	25	35	30	31	17	19
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	-0.12	-0.16	-0.19
Basic Earnings per Share	($0.15)	($0.24)	($0.10)	$0.39	($0.98)	$0.70	($0.72)	$0.46	($0.67)	($0.15)	$0.03
Weighted Average Basic Shares Outstanding	22.50M	25.93M	27.81M	32.68M	36.87M	39.91M	41.40M	46.33M	54.39M	63.07M	74.11M
Diluted Earnings per Share	($0.15)	($0.24)	($0.10)	$0.39	($0.98)	$0.69	($0.72)	$0.45	($0.67)	($0.15)	$0.03
Weighted Average Diluted Shares Outstanding	22.50M	25.93M	27.81M	32.68M	36.87M	40.20M	41.40M	47.43M	55.33M	63.68M	74.91M
Weighted Average Basic & Diluted Shares Outstanding	22.50M	25.93M	27.81M	32.68M	36.87M	41.20M	42.37M	52.03M	59.64M	69.34M	82.46M
Cash Dividends to Common per Share	$0.72	$0.72	$0.72	$0.72	$0.72	$0.72	$0.72	$0.76	$0.80	$0.82	$0.85

This table shows UMH Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-9.75	0.28	-5.30	-4.42	-5.83	6.83	-6.26	0.53	8.18	0.03	-0.27
Consolidated Net Income / (Loss)	-5.22	3.66	-1.50	-0.40	-1.50	11	-1.63	5.18	13	4.98	4.81
Net Income / (Loss) Continuing Operations	-5.22	3.66	-1.50	-0.40	-1.50	11	-1.63	5.18	13	4.98	4.81
Total Pre-Tax Income	-5.21	3.73	-1.53	-0.41	-1.47	11	-1.62	5.19	13	5.00	4.81
Total Revenue	52	48	54	55	56	56	59	57	61	64	61
Net Interest Income / (Expense)	0.00	-0.91	1.14	0.00	0.00	-1.14	1.57	0.00	0.00	-1.57	0.00
Total Interest Income	0.00	-0.91	1.14	0.00	0.00	-1.14	1.57	0.00	0.00	-1.57	0.00
Total Interest Expense	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Non-Interest Income	52	49	53	55	56	57	58	57	61	66	61
Other Non-Interest Income	52	49	53	55	56	57	58	60	61	62	61
Total Non-Interest Expense	45	43	45	46	46	47	48	49	49	51	52
Other Operating Expenses	32	30	32	33	32	32	34	34	34	36	35
Depreciation Expense	12	13	13	14	14	14	15	15	15	16	17
Nonoperating Income / (Expense), net	-13	-1.52	-10.00	-9.33	-11	2.36	-12	-2.05	1.22	-7.62	-4.76
Other Gains / (Losses), net	-0.01	-0.07	0.03	0.01	-0.03	-0.01	-0.00	-0.01	-0.08	-0.02	-0.00
Preferred Stock Dividends Declared	4.59	3.43	3.84	4.05	4.36	4.47	4.67	4.71	4.78	5.00	5.13
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.06	-0.06	-0.04	-0.04	-0.03	-0.05	-0.03	-0.06	-0.06	-0.04	-0.05
Basic Earnings per Share	($0.18)	$0.01	($0.09)	($0.07)	($0.09)	$0.10	($0.09)	$0.01	$0.11	-	$0.00
Weighted Average Basic Shares Outstanding	54.89M	54.39M	59.09M	61.24M	65.08M	63.07M	69.13M	71.42M	75.61M	74.11M	82.39M
Diluted Earnings per Share	($0.18)	-	($0.09)	($0.07)	($0.09)	$0.10	($0.09)	$0.01	$0.11	-	$0.00
Weighted Average Diluted Shares Outstanding	54.89M	55.33M	59.09M	61.76M	65.55M	63.68M	69.13M	71.88M	76.56M	74.91M	83.34M
Weighted Average Basic & Diluted Shares Outstanding	55.74M	59.64M	60.72M	65.27M	66.40M	69.34M	70.40M	73.55M	78.90M	82.46M	84.08M

This table details how cash moves in and out of UMH Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	0.47	-1.55	-2.47	19	-15	6.22	9.60	96	-84	24	44
Net Cash From Operating Activities	24	26	29	41	40	39	67	65	-7.23	120	82
Net Cash From Continuing Operating Activities	24	23	29	41	40	39	67	65	-7.23	120	82
Net Income / (Loss) Continuing Operations	4.24	2.14	12	13	-36	28	5.06	51	-4.97	7.85	21
Consolidated Net Income / (Loss)	4.24	2.14	12	13	-36	28	5.06	51	-4.97	7.85	21
Provision For Loan Losses	1.02	1.12	0.91	1.27	1.23	1.41	1.55	1.21	1.50	2.06	2.08
Depreciation Expense	15	19	23	28	32	37	42	45	49	56	60
Amortization Expense	0.52	0.83	0.73	0.66	0.63	0.76	1.03	1.00	1.96	2.14	2.38
Non-Cash Adjustments to Reconcile Net Income	-0.63	0.73	-1.22	-0.35	53	2.05	1.54	1.28	21	9.48	9.57
Changes in Operating Assets and Liabilities, net	4.01	2.00	-5.97	-0.95	-11	-30	16	-35	-76	43	-14
Net Cash From Investing Activities	-56	-149	-78	-153	-138	-122	-104	-94	-125	-166	-140
Net Cash From Continuing Investing Activities	-56	-149	-78	-153	-138	-122	-104	-94	-125	-166	-140
Purchase of Property, Leasehold Improvements and Equipment	-42	-51	-58	-62	-53	-65	-77	-59	-81	-124	-92
Purchase of Investment Securities	-26	-103	-35	-111	-88	-61	-30	-55	-103	-49	-53
Sale of Property, Leasehold Improvements and Equipment	-	-	-	-	-	2.75	2.66	2.86	3.10	3.05	5.28
Sale and/or Maturity of Investments	12	5.41	16	20	3.02	0.13	0.00	17	56	4.32	0.04
Net Cash From Financing Activities	32	121	46	131	82	90	47	126	48	69	103
Net Cash From Continuing Financing Activities	32	121	46	131	82	90	47	126	48	69	103
Issuance of Debt	28	139	32	71	52	45	109	-34	270	-1.80	0.00
Issuance of Common Equity	31	23	20	80	30	40	102	59	115	62	35
Repayment of Debt	-4.64	-57	-25	-35	-6.87	-46	-7.12	-26	-24	-70	-77
Repurchase of Preferred Equity	-	0.00	0.00	-92	0.00	0.00	-95	0.00	-247	0.00	0.00
Payment of Dividends	-22	-24	-32	-37	-42	-47	-59	-61	-65	-66	-78
Other Financing Activities, Net	-0.46	-2.14	1.82	4.80	0.64	1.85	-2.34	188	-0.02	145	223

This table details how cash moves in and out of UMH Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-214	-30	2.19	6.13	-3.62	19	-15	1.67	24	34	-62
Net Cash From Operating Activities	-0.33	-12	13	40	38	29	19	19	17	27	13
Net Cash From Continuing Operating Activities	-0.33	-12	13	40	38	29	19	19	17	27	13
Net Income / (Loss) Continuing Operations	-5.22	3.66	-1.50	-0.40	-1.50	11	-1.63	5.18	13	4.98	4.81
Consolidated Net Income / (Loss)	-5.22	3.66	-1.50	-0.40	-1.50	11	-1.63	5.18	13	4.98	4.81
Provision For Loan Losses	0.37	0.52	0.36	0.44	0.54	0.73	0.46	0.33	0.51	0.78	0.45
Depreciation Expense	12	13	13	14	14	14	15	15	15	16	17
Amortization Expense	0.51	0.51	0.52	0.54	0.54	0.54	0.56	0.61	0.61	0.61	0.60
Non-Cash Adjustments to Reconcile Net Income	-34	42	4.28	-0.70	11	-5.58	6.97	-0.17	-1.98	4.75	3.56
Changes in Operating Assets and Liabilities, net	25	-71	-3.74	26	13	7.75	-2.06	-2.40	-10	0.35	-13
Net Cash From Investing Activities	-59	-66	-41	-54	-41	-30	-25	-33	-38	-43	-56
Net Cash From Continuing Investing Activities	-59	-66	-41	-54	-41	-30	-25	-33	-38	-43	-56
Purchase of Property, Leasehold Improvements and Equipment	-25	-27	-27	-48	-34	-15	-18	-23	-27	-25	-21
Purchase of Investment Securities	-35	-40	-15	-6.76	-12	-15	-8.60	-11	-13	-20	-37
Sale of Property, Leasehold Improvements and Equipment	0.64	0.58	0.63	0.70	0.95	0.77	1.03	1.31	1.54	1.39	1.00
Net Cash From Financing Activities	-154	49	29	20	-0.40	20	-8.85	16	45	50	-19
Net Cash From Continuing Financing Activities	-154	49	29	20	-0.40	20	-8.85	16	45	50	-19
Issuance of Debt	103	27	38	-8.46	-38	6.54	-16	0.21	-52	67	0.37
Issuance of Common Equity	1.82	112	55	-18	14	11	6.16	2.40	12	14	12
Repayment of Debt	-3.07	-12	-48	-16	-2.85	-2.89	-2.95	-2.97	-2.97	-68	-9.39
Payment of Dividends	-16	-14	-15	-16	-17	-17	-18	-19	-20	-21	-22
Other Financing Activities, Net	7.27	-63	-0.36	79	44	23	22	36	108	57	0.35

This table presents UMH Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	478	600	680	824	881	1,025	1,089	1,271	1,345	1,428	1,564
Cash and Due from Banks	8.08	6.54	4.22	23	7.43	13	15	116	30	57	100
Trading Account Securities	64	75	109	133	100	116	103	114	42	35	32
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	367	480	525	621	712	1,831	879	936	1,078	1,185	1,263
Other Assets	38	38	42	46	61	-935	92	105	194	151	169
Total Liabilities & Shareholders' Equity	478	600	680	824	881	1,025	1,089	1,271	1,345	1,428	1,564
Total Liabilities	269	354	363	403	456	479	588	529	793	721	648
Non-Interest Bearing Deposits	7.51	10	9.14	10	13	17	25	25	25	25	25
Long-Term Debt	260	341	351	390	439	457	558	499	762	690	615
Other Long-Term Liabilities	-	-	-	-	-	4.57	-	4.27	6.39	6.11	7.98
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	209	246	317	421	425	546	502	742	551	707	916
Total Preferred & Common Equity	209	246	317	421	425	546	502	742	549	705	914
Preferred Stock	92	-	-	-	289	95	408	-	225	290	321
Total Common Equity	117	246	317	421	136	451	94	742	324	415	593
Common Stock	113	112	114	172	161	167	119	305	349	440	619
Retained Earnings	-0.67	-0.67	-0.67	-0.67	-25	-25	-25	-25	-25	-25	-25
Other Equity Adjustments	0.00	137	187	239	0.00	310	0.00	462	0.00	0.00	0.00
Noncontrolling Interest	-	-	-	-	-	-	-	0.00	2.23	2.07	1.88

This table presents UMH Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	1,267	1,370	1,394	1,393	1,416	1,441	1,502	1,549
Cash and Due from Banks	63	33	41	39	40	39	67	35
Trading Account Securities	39	39	37	28	29	29	34	30
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	1,011	1,100	1,141	1,172	1,196	1,214	1,237	1,303
Other Assets	154	198	175	155	151	160	164	181
Total Liabilities & Shareholders' Equity	1,267	1,370	1,394	1,393	1,416	1,441	1,502	1,549
Total Liabilities	755	779	756	715	699	697	643	635
Non-Interest Bearing Deposits	23	21	22	23	22	23	22	22
Other Short-Term Payables	-	-	6.70	-	-	-	-	7.09
Long-Term Debt	726	751	727	687	672	669	615	606
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	512	591	638	678	717	744	858	914
Total Preferred & Common Equity	509	589	636	676	715	742	856	912
Preferred Stock	215	-	265	279	295	296	307	322
Total Common Equity	294	589	371	396	420	446	550	591
Common Stock	319	367	396	422	445	472	575	616
Retained Earnings	-25	-25	-25	-25	-25	-25	-25	-25
Other Equity Adjustments	0.00	247	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	2.19	2.19	2.16	2.12	2.04	1.98	1.92	1.83

This table displays calculated financial ratios and metrics derived from UMH Properties' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	24.93%	11.99%	21.41%	15.56%	14.99%	11.19%	1.12%	27.14%	3.88%	12.85%	8.88%
EBITDA Growth	99.77%	21.59%	35.96%	15.92%	14.90%	8.34%	-3.30%	48.05%	-2.64%	17.11%	11.82%
EBIT Growth	13,973.44%	14.09%	65.47%	13.03%	15.49%	-3.95%	-35.31%	180.48%	-18.67%	22.35%	17.55%
NOPAT Growth	13,973.44%	14.09%	65.47%	13.03%	-19.16%	37.21%	-35.31%	180.48%	-43.07%	74.78%	17.55%
Net Income Growth	-27.40%	-49.40%	437.94%	9.83%	-385.89%	176.62%	-81.78%	910.64%	-109.73%	257.90%	173.10%
EPS Growth	-66.67%	-60.00%	58.33%	490.00%	-351.28%	170.41%	-204.35%	162.50%	-248.89%	77.61%	120.00%
Operating Cash Flow Growth	116.46%	5.68%	13.59%	39.91%	-1.67%	-4.13%	73.54%	-2.47%	-111.09%	1,761.51%	-32.04%
Free Cash Flow Firm Growth	43.32%	-80.53%	39.91%	-90.75%	69.16%	-212.41%	59.92%	-192.31%	63.88%	5.76%	-91.06%
Invested Capital Growth	17.13%	25.21%	13.83%	21.32%	6.53%	16.20%	6.08%	16.60%	5.75%	6.39%	9.58%
Revenue Q/Q Growth	27.77%	-2.90%	-1.21%	6.96%	4.12%	3.01%	-3.60%	7.32%	0.16%	0.65%	3.55%
EBITDA Q/Q Growth	278.70%	-12.23%	-5.13%	11.34%	2.79%	6.09%	-11.12%	14.56%	-3.98%	-1.08%	4.95%
EBIT Q/Q Growth	199.67%	-37.05%	-14.00%	24.29%	2.26%	9.59%	-38.37%	36.66%	-13.91%	-7.06%	9.06%
NOPAT Q/Q Growth	199.67%	-37.05%	-14.00%	24.29%	2.26%	56.55%	-11.96%	36.66%	-39.74%	-7.06%	9.06%
Net Income Q/Q Growth	118.31%	-39.32%	38.43%	1.23%	-630.88%	890.30%	134.48%	-10.88%	-159.34%	2,966.80%	-22.64%
EPS Q/Q Growth	46.43%	-60.00%	44.44%	269.57%	-1,300.00%	475.00%	14.29%	0.00%	0.00%	0.00%	-76.92%
Operating Cash Flow Q/Q Growth	10.39%	7.91%	-11.78%	10.48%	10.36%	-6.76%	6.10%	3.89%	-130.09%	52.37%	-2.03%
Free Cash Flow Firm Q/Q Growth	26.83%	-61.54%	32.90%	-21.98%	42.95%	1.93%	-253.06%	21.30%	-92.59%	45.60%	-30.48%
Invested Capital Q/Q Growth	2.56%	8.78%	1.96%	5.02%	1.20%	1.53%	9.55%	5.48%	6.08%	2.38%	3.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	33.08%	35.92%	40.22%	40.34%	40.31%	39.28%	37.56%	43.74%	40.99%	42.54%	43.68%
EBIT Margin	11.58%	11.80%	16.08%	15.73%	15.80%	13.65%	8.73%	19.26%	15.08%	16.35%	17.65%
Profit (Net Income) Margin	5.81%	2.62%	11.63%	11.05%	-27.47%	18.93%	3.41%	27.11%	-2.54%	3.55%	8.91%
Tax Burden Percent	100.17%	96.39%	99.98%	99.36%	100.36%	99.60%	26.07%	99.67%	103.52%	100.00%	99.48%
Interest Burden Percent	50.05%	23.07%	72.29%	70.68%	-173.22%	139.24%	149.81%	141.20%	-16.27%	21.73%	50.76%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.94%	1.83%	2.54%	2.44%	1.74%	2.14%	1.25%	3.15%	1.62%	2.67%	2.90%
ROIC Less NNEP Spread (ROIC-NNEP)	0.15%	-0.67%	1.26%	0.99%	-10.52%	3.87%	-0.29%	5.93%	-2.45%	-1.23%	-0.32%
Return on Net Nonoperating Assets (RNNOA)	0.18%	-0.88%	1.55%	0.99%	-10.30%	3.57%	-0.29%	5.07%	-2.39%	-1.42%	-0.26%
Return on Equity (ROE)	2.12%	0.94%	4.10%	3.43%	-8.56%	5.72%	0.96%	8.21%	-0.77%	1.25%	2.64%
Cash Return on Invested Capital (CROIC)	-13.84%	-20.56%	-10.39%	-16.83%	-4.58%	-12.84%	-4.65%	-12.18%	-3.97%	-3.53%	-6.24%
Operating Return on Assets (OROA)	1.91%	1.79%	2.49%	2.40%	2.44%	2.10%	1.22%	3.08%	2.26%	2.61%	2.84%
Return on Assets (ROA)	0.96%	0.40%	1.80%	1.68%	-4.25%	2.91%	0.48%	4.33%	-0.38%	0.57%	1.43%
Return on Common Equity (ROCE)	1.15%	0.75%	4.10%	3.43%	-5.64%	3.46%	0.50%	5.52%	-0.63%	0.73%	1.64%
Return on Equity Simple (ROE_SIMPLE)	2.03%	0.87%	3.64%	3.01%	-8.53%	5.08%	1.01%	6.88%	-0.91%	1.11%	2.35%
Net Operating Profit after Tax (NOPAT)	8.45	9.64	16	18	15	20	13	36	21	36	42
NOPAT Margin	11.58%	11.80%	16.08%	15.73%	11.06%	13.65%	8.73%	19.26%	10.56%	16.35%	17.65%
Net Nonoperating Expense Percent (NNEP)	1.79%	2.50%	1.28%	1.45%	12.26%	-1.73%	1.55%	-2.78%	4.07%	3.89%	3.22%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	88.42%	88.20%	83.92%	84.27%	84.20%	86.35%	91.27%	80.74%	84.92%	83.65%	82.35%
Earnings before Interest and Taxes (EBIT)	8.45	9.64	16	18	21	20	13	36	30	36	42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24	29	40	46	53	58	56	82	80	94	105
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.15	0.71	0.94	0.89	2.50	1.14	5.57	1.58	2.47	2.31	2.48
Price to Tangible Book Value (P/TBV)	1.15	0.71	0.94	0.89	2.50	1.14	5.57	1.58	2.47	2.31	2.48
Price to Revenue (P/Rev)	1.85	2.15	2.99	3.27	2.57	3.52	3.52	6.23	4.09	4.33	6.12
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	200.88	0.00	55.28	0.00	0.00	595.42
Dividend Yield	12.62%	11.05%	6.95%	6.70%	8.00%	5.71%	5.75%	3.17%	5.57%	5.70%	4.56%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.50%	0.00%	1.81%	0.00%	0.00%	0.17%
Enterprise Value to Invested Capital (EV/IC)	1.02	0.87	0.96	0.91	1.23	1.05	1.39	1.25	1.34	1.35	1.51
Enterprise Value to Revenue (EV/Rev)	6.56	6.25	6.49	6.47	8.04	7.20	9.97	8.27	8.99	8.51	9.60
Enterprise Value to EBITDA (EV/EBITDA)	19.82	17.39	16.14	16.03	19.94	18.32	26.54	18.90	21.93	20.01	21.98
Enterprise Value to EBIT (EV/EBIT)	56.60	52.92	40.37	41.12	50.86	52.72	114.19	42.91	59.62	52.07	54.39
Enterprise Value to NOPAT (EV/NOPAT)	56.60	52.92	40.37	41.12	72.66	52.72	114.19	42.91	85.17	52.07	54.39
Enterprise Value to Operating Cash Flow (EV/OCF)	19.67	19.85	22.06	18.15	26.37	27.39	22.11	23.90	0.00	15.66	28.30
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.25	1.38	1.11	0.92	1.03	0.84	1.12	0.67	1.38	0.98	0.67
Long-Term Debt to Equity	1.25	1.38	1.11	0.92	1.03	0.84	1.11	0.67	1.38	0.98	0.67
Financial Leverage	1.18	1.32	1.23	1.00	0.98	0.92	0.97	0.85	0.98	1.15	0.80
Leverage Ratio	2.22	2.37	2.27	2.04	2.02	1.96	2.02	1.90	2.02	2.20	1.84
Compound Leverage Factor	1.11	0.55	1.64	1.44	-3.49	2.73	3.02	2.68	-0.33	0.48	0.94
Debt to Total Capital	55.47%	58.06%	52.56%	48.05%	50.83%	45.57%	52.87%	40.22%	58.02%	49.40%	40.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	55.47%	58.06%	52.56%	48.05%	50.83%	45.57%	52.46%	40.22%	58.02%	49.40%	40.16%
Preferred Equity to Total Capital	19.53%	0.00%	0.00%	0.00%	33.43%	9.47%	38.32%	0.00%	17.17%	20.77%	20.94%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.15%	0.12%
Common Equity to Total Capital	25.00%	41.94%	47.44%	51.95%	15.74%	44.97%	8.82%	59.78%	24.65%	29.68%	38.77%
Debt to EBITDA	10.78	11.62	8.80	8.42	8.26	7.94	10.11	6.06	9.49	7.34	5.85
Net Debt to EBITDA	10.44	11.39	8.70	7.92	8.12	7.72	9.83	4.65	9.12	6.73	4.90
Long-Term Debt to EBITDA	10.78	11.62	8.80	8.42	8.26	7.94	10.03	6.06	9.49	7.34	5.85
Debt to NOPAT	30.77	35.35	22.01	21.60	30.11	22.86	43.49	13.75	36.86	19.10	14.48
Net Debt to NOPAT	29.81	34.67	21.75	20.31	29.60	22.21	42.30	10.55	35.41	17.52	12.13
Long-Term Debt to NOPAT	30.77	35.35	22.01	21.60	30.11	22.86	43.15	13.75	36.86	19.10	14.48
Noncontrolling Interest Sharing Ratio	45.86%	20.13%	0.00%	0.00%	34.14%	39.53%	47.99%	32.80%	17.60%	41.33%	37.88%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-60	-109	-65	-124	-38	-120	-48	-140	-51	-48	-91
Operating Cash Flow to CapEx	58.12%	50.19%	50.19%	65.89%	75.84%	62.33%	90.20%	115.56%	-9.26%	99.39%	93.99%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-2.63	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	3.66	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.40	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.15	0.15	0.15	0.15	0.15	0.14	0.16	0.15	0.16	0.16
Fixed Asset Turnover	0.22	0.19	0.20	0.20	0.20	0.12	0.11	0.21	0.19	0.20	0.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	469	587	668	811	864	1,004	1,065	1,241	1,313	1,397	1,531
Invested Capital Turnover	0.17	0.15	0.16	0.16	0.16	0.16	0.14	0.16	0.15	0.16	0.16
Increase / (Decrease) in Invested Capital	69	118	81	142	53	140	61	177	71	84	134
Enterprise Value (EV)	478	510	644	742	1,060	1,055	1,478	1,558	1,760	1,881	2,309
Market Capitalization	135	176	297	375	339	515	522	1,175	801	956	1,472
Book Value per Share	$4.96	$9.12	$11.06	$12.06	$3.61	$11.05	$2.25	$15.14	$5.81	$6.24	$7.52
Tangible Book Value per Share	$4.96	$9.12	$11.06	$12.06	$3.61	$11.05	$2.25	$15.14	$5.81	$6.24	$7.52
Total Capital	469	587	668	811	864	1,004	1,065	1,241	1,313	1,397	1,531
Total Debt	260	341	351	390	439	457	563	499	762	690	615
Total Long-Term Debt	260	341	351	390	439	457	558	499	762	690	615
Net Debt	252	334	347	366	432	444	548	383	732	633	515
Capital Expenditures (CapEx)	42	51	58	62	53	62	74	56	78	121	87
Net Nonoperating Expense (NNE)	4.22	7.50	4.42	5.37	51	-7.74	7.89	-15	26	28	21
Net Nonoperating Obligations (NNO)	260	341	351	390	439	457	563	499	762	690	615
Total Depreciation and Amortization (D&A)	16	20	24	28	32	38	43	46	51	58	63
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.15)	($0.24)	($0.09)	($0.24)	($1.53)	$0.70	$0.12	$1.10	($0.67)	($0.15)	$0.03
Adjusted Weighted Average Basic Shares Outstanding	22.50M	25.93M	30.09M	36.07M	38.78M	39.91M	41.40M	46.33M	54.39M	63.07M	74.11M
Adjusted Diluted Earnings per Share	($0.15)	($0.24)	($0.09)	($0.24)	($1.53)	$0.69	$0.12	$1.08	($0.67)	($0.15)	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	22.54M	25.97M	30.09M	36.07M	38.78M	40.20M	41.40M	47.43M	54.39M	63.07M	74.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($0.09)	($0.24)	($1.53)	$0.70	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.89M	27.11M	27.81M	32.68M	36.87M	41.20M	42.37M	52.03M	59.64M	69.34M	82.46M
Normalized Net Operating Profit after Tax (NOPAT)	6.26	7.42	11	13	15	14	9.06	25	21	25	30
Normalized NOPAT Margin	8.57%	9.08%	11.32%	11.01%	11.06%	9.55%	6.11%	13.48%	10.56%	11.45%	12.36%
Pre Tax Income Margin	5.80%	2.72%	11.63%	11.12%	-27.37%	19.01%	13.08%	27.20%	-2.45%	3.55%	8.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.71	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.71	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-3.34	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-3.34	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	518.76%	1,133.17%	279.11%	295.60%	-114.82%	168.75%	1,159.25%	120.09%	-1,312.13%	838.05%	364.90%
Augmented Payout Ratio	518.76%	1,133.17%	279.11%	295.60%	-114.82%	169.61%	1,195.45%	120.09%	-1,312.13%	838.05%	364.90%

This table displays calculated financial ratios and metrics derived from UMH Properties' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.13%	0.65%	14.80%	12.32%	8.34%	16.36%	10.32%	2.28%	7.82%	15.13%	6.15%
EBITDA Growth	-4.73%	-15.20%	6.06%	13.30%	21.63%	28.95%	16.92%	-1.53%	10.38%	21.49%	9.23%
EBIT Growth	-22.66%	-47.58%	-5.48%	11.96%	33.80%	69.48%	28.08%	-18.78%	19.60%	41.65%	3.26%
NOPAT Growth	-45.86%	-47.58%	-33.84%	11.96%	33.80%	69.48%	28.08%	16.03%	70.85%	41.65%	47.51%
Net Income Growth	-224.33%	-78.49%	-145.83%	93.97%	71.27%	207.57%	-8.26%	1,385.61%	960.91%	-55.75%	396.00%
EPS Growth	-157.14%	0.00%	0.00%	82.93%	50.00%	0.00%	0.00%	114.29%	222.22%	0.00%	100.00%
Operating Cash Flow Growth	-102.54%	-165.01%	136.97%	20,676.68%	11,579.52%	335.28%	43.34%	-53.27%	-56.11%	-5.85%	-32.91%
Free Cash Flow Firm Growth	71.62%	60.33%	117.98%	-628.22%	-116.01%	-13.42%	-173.35%	80.59%	18.93%	-61.54%	-210.19%
Invested Capital Growth	5.15%	5.75%	-3.33%	18.89%	10.24%	6.39%	3.42%	3.53%	7.99%	9.58%	9.49%
Revenue Q/Q Growth	5.51%	-7.89%	-0.98%	2.95%	1.77%	-1.08%	5.66%	-4.55%	7.29%	5.63%	-4.46%
EBITDA Q/Q Growth	-1.59%	-8.06%	-10.32%	3.82%	5.64%	-2.52%	7.52%	-12.57%	18.42%	7.30%	-7.58%
EBIT Q/Q Growth	-7.73%	-28.48%	-27.36%	5.38%	10.26%	-9.41%	16.34%	-33.18%	62.36%	7.30%	-24.12%
NOPAT Q/Q Growth	-7.73%	2.17%	-49.15%	5.38%	10.26%	29.42%	-18.57%	-4.54%	62.36%	7.30%	-24.12%
Net Income Q/Q Growth	21.98%	170.12%	-141.02%	73.15%	-271.96%	850.77%	-114.44%	418.83%	149.08%	-61.41%	-3.41%
EPS Q/Q Growth	56.10%	0.00%	0.00%	22.22%	-28.57%	211.11%	-190.00%	111.11%	1,000.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-72.02%	-3,607.83%	207.95%	198.84%	-4.03%	-24.01%	-36.00%	-2.58%	-9.87%	63.04%	-53.14%
Free Cash Flow Firm Q/Q Growth	-239.20%	-19.20%	187.36%	-503.39%	43.08%	37.41%	48.68%	-6.77%	-137.73%	-24.70%	-0.81%
Invested Capital Q/Q Growth	7.82%	6.08%	2.28%	1.63%	-0.03%	2.38%	-0.58%	1.74%	4.28%	3.89%	-0.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	38.81%	38.74%	41.63%	41.97%	43.57%	42.94%	44.11%	40.41%	44.60%	45.31%	43.83%
EBIT Margin	14.15%	10.99%	15.76%	16.13%	17.47%	16.00%	18.29%	12.81%	19.38%	19.69%	15.64%
Profit (Net Income) Margin	-10.05%	7.65%	-2.80%	-0.73%	-2.66%	20.22%	-2.74%	9.16%	21.27%	7.77%	7.86%
Tax Burden Percent	100.19%	98.04%	97.91%	98.77%	101.77%	99.90%	100.19%	99.81%	99.40%	99.56%	99.98%
Interest Burden Percent	-70.87%	71.00%	-18.11%	-4.58%	-14.98%	126.46%	-14.96%	71.67%	110.40%	39.64%	50.25%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.60%	1.68%	1.69%	1.93%	2.06%	2.61%	2.13%	2.10%	3.17%	3.24%	2.62%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.08%	1.43%	0.61%	0.95%	0.88%	2.93%	0.83%	1.81%	3.35%	2.07%	1.88%
Return on Net Nonoperating Assets (RNNOA)	-0.08%	1.40%	0.61%	1.11%	1.04%	3.38%	0.90%	1.82%	2.84%	1.66%	1.47%
Return on Equity (ROE)	1.52%	3.08%	2.30%	3.04%	3.11%	5.99%	3.03%	3.93%	6.01%	4.90%	4.10%
Cash Return on Invested Capital (CROIC)	-2.18%	-3.97%	5.20%	-15.23%	-6.76%	-3.53%	-0.53%	-0.80%	-4.93%	-6.24%	-6.12%
Operating Return on Assets (OROA)	2.24%	1.64%	2.37%	2.46%	2.88%	2.55%	2.98%	2.06%	3.11%	3.17%	2.57%
Return on Assets (ROA)	-1.59%	1.15%	-0.42%	-0.11%	-0.44%	3.22%	-0.45%	1.47%	3.41%	1.25%	1.29%
Return on Common Equity (ROCE)	0.65%	2.54%	1.51%	1.78%	1.80%	3.52%	2.34%	2.32%	3.70%	3.04%	2.54%
Return on Equity Simple (ROE_SIMPLE)	1.65%	0.00%	-1.65%	-0.54%	0.04%	0.00%	1.08%	1.79%	3.24%	0.00%	3.06%
Net Operating Profit after Tax (NOPAT)	5.14	5.26	5.92	6.24	6.88	8.91	7.59	7.24	12	13	9.57
NOPAT Margin	9.90%	10.99%	11.03%	11.29%	12.23%	16.00%	12.81%	12.81%	19.38%	19.69%	15.64%
Net Nonoperating Expense Percent (NNEP)	1.68%	0.25%	1.08%	0.98%	1.19%	-0.32%	1.29%	0.30%	-0.18%	1.17%	0.75%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	85.85%	89.01%	84.24%	83.87%	82.53%	84.00%	81.71%	87.19%	80.62%	80.31%	84.36%
Earnings before Interest and Taxes (EBIT)	7.35	5.26	8.46	8.92	9.83	8.91	11	7.24	12	13	9.57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	20	19	22	23	25	24	26	23	27	29	27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.71	2.47	1.38	2.45	2.19	2.31	2.50	2.50	2.63	2.48	2.61
Price to Tangible Book Value (P/TBV)	2.71	2.47	1.38	2.45	2.19	2.31	2.50	2.50	2.63	2.48	2.61
Price to Revenue (P/Rev)	4.08	4.09	3.90	4.22	3.95	4.33	4.64	4.89	6.23	6.12	6.32
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	155.97	595.42	182.17
Dividend Yield	5.42%	5.57%	5.89%	5.42%	6.13%	5.70%	5.18%	5.25%	4.27%	4.56%	4.60%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.64%	0.17%	0.55%
Enterprise Value to Invested Capital (EV/IC)	1.36	1.34	1.14	1.36	1.32	1.35	1.43	1.44	1.56	1.51	1.60
Enterprise Value to Revenue (EV/Rev)	8.59	8.99	7.34	8.65	8.19	8.51	8.74	8.95	9.92	9.60	9.98
Enterprise Value to EBITDA (EV/EBITDA)	20.09	21.93	17.46	20.52	18.91	20.01	20.22	20.91	23.01	21.98	22.70
Enterprise Value to EBIT (EV/EBIT)	48.95	59.62	43.34	51.13	46.23	52.07	51.20	55.14	59.17	54.39	56.98
Enterprise Value to NOPAT (EV/NOPAT)	48.95	85.17	61.91	73.04	46.23	52.07	51.20	55.14	59.17	54.39	56.98
Enterprise Value to Operating Cash Flow (EV/OCF)	69.89	0.00	3,381.77	46.09	22.80	15.66	15.74	19.49	27.66	28.30	32.35
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	21.60	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.42	1.38	1.27	1.14	1.01	0.98	0.94	0.90	0.72	0.67	0.66
Long-Term Debt to Equity	1.42	1.38	1.27	1.14	1.01	0.98	0.94	0.90	0.72	0.67	0.66
Financial Leverage	1.04	0.98	1.01	1.17	1.19	1.15	1.09	1.01	0.85	0.80	0.78
Leverage Ratio	2.09	2.02	2.05	2.43	2.24	2.20	2.13	2.05	1.88	1.84	1.82
Compound Leverage Factor	-1.48	1.44	-0.37	-0.11	-0.34	2.79	-0.32	1.47	2.08	0.73	0.91
Debt to Total Capital	58.67%	58.02%	55.96%	53.26%	50.33%	49.40%	48.36%	47.34%	41.74%	40.16%	39.88%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	58.67%	58.02%	55.96%	53.26%	50.33%	49.40%	48.36%	47.34%	41.74%	40.16%	39.88%
Preferred Equity to Total Capital	17.41%	17.17%	0.00%	19.42%	20.48%	20.77%	21.24%	20.93%	20.82%	20.94%	21.16%
Noncontrolling Interests to Total Capital	0.18%	0.17%	0.16%	0.16%	0.16%	0.15%	0.15%	0.14%	0.13%	0.12%	0.12%
Common Equity to Total Capital	23.75%	24.65%	43.88%	27.16%	29.03%	29.68%	30.25%	31.58%	37.31%	38.77%	38.84%
Debt to EBITDA	8.69	9.49	8.55	8.02	7.23	7.34	6.86	6.85	6.14	5.85	5.65
Net Debt to EBITDA	7.94	9.12	8.17	7.56	6.82	6.73	6.45	6.45	5.48	4.90	5.32
Long-Term Debt to EBITDA	8.69	9.49	8.55	8.02	7.23	7.34	6.86	6.85	6.14	5.85	5.65
Debt to NOPAT	21.17	36.86	30.30	28.54	17.67	19.10	17.36	18.07	15.79	14.48	14.18
Net Debt to NOPAT	19.35	35.41	28.98	26.91	16.67	17.52	16.33	17.01	14.08	12.13	13.36
Long-Term Debt to NOPAT	21.17	36.86	30.30	28.54	17.67	19.10	17.36	18.07	15.79	14.48	14.18
Noncontrolling Interest Sharing Ratio	57.56%	17.60%	34.13%	41.60%	41.97%	41.33%	22.87%	40.88%	38.43%	37.88%	38.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-55	-66	52	-211	-120	-75	-38	-41	-97	-121	-122
Operating Cash Flow to CapEx	-1.36%	-45.83%	50.85%	84.25%	115.27%	200.06%	113.20%	84.82%	66.95%	117.89%	65.02%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.15	0.15	0.15	0.17	0.16	0.16	0.16	0.16	0.16	0.16
Fixed Asset Turnover	0.20	0.19	0.20	0.20	0.20	0.20	0.20	0.19	0.19	0.20	0.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,238	1,313	1,343	1,365	1,364	1,397	1,389	1,413	1,473	1,531	1,520
Invested Capital Turnover	0.16	0.15	0.15	0.17	0.17	0.16	0.17	0.16	0.16	0.16	0.17
Increase / (Decrease) in Invested Capital	61	71	-46	217	127	84	46	48	109	134	132
Enterprise Value (EV)	1,679	1,760	1,535	1,860	1,797	1,881	1,981	2,041	2,304	2,309	2,437
Market Capitalization	798	801	815	908	867	956	1,052	1,113	1,447	1,472	1,542
Book Value per Share	$5.37	$5.81	$9.88	$6.10	$6.07	$6.24	$6.08	$6.34	$7.47	$7.52	$7.16
Tangible Book Value per Share	$5.37	$5.81	$9.88	$6.10	$6.07	$6.24	$6.08	$6.34	$7.47	$7.52	$7.16
Total Capital	1,238	1,313	1,343	1,365	1,364	1,397	1,389	1,413	1,473	1,531	1,520
Total Debt	726	762	751	727	687	690	672	669	615	615	606
Total Long-Term Debt	726	762	751	727	687	690	672	669	615	615	606
Net Debt	664	732	719	685	648	633	632	629	548	515	571
Capital Expenditures (CapEx)	24	27	26	47	33	14	17	22	25	23	20
Net Nonoperating Expense (NNE)	10	1.60	7.43	6.65	8.38	-2.35	9.21	2.06	-1.15	7.64	4.76
Net Nonoperating Obligations (NNO)	726	762	751	727	687	690	672	669	615	615	606
Total Depreciation and Amortization (D&A)	13	13	14	14	15	15	15	16	15	16	17
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.18)	$0.01	($0.09)	($0.07)	($0.09)	$0.10	($0.09)	$0.01	$0.11	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	54.89M	54.39M	59.09M	61.24M	65.08M	63.07M	69.13M	71.42M	75.61M	74.11M	82.39M
Adjusted Diluted Earnings per Share	($0.18)	$0.00	$0.00	($0.07)	($0.09)	$0.10	($0.09)	$0.01	$0.11	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	54.89M	55.33M	59.09M	65.27M	65.08M	63.68M	69.13M	71.88M	76.56M	74.91M	83.34M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.74M	59.64M	60.72M	65.27M	66.40M	69.34M	70.40M	73.55M	78.90M	82.46M	84.08M
Normalized Net Operating Profit after Tax (NOPAT)	5.14	3.68	5.92	6.24	6.88	6.24	7.59	5.07	8.23	8.83	6.70
Normalized NOPAT Margin	9.90%	7.69%	11.03%	11.29%	12.23%	11.20%	12.81%	8.97%	13.57%	13.78%	10.95%
Pre Tax Income Margin	-10.03%	7.80%	-2.85%	-0.74%	-2.62%	20.24%	-2.74%	9.18%	21.40%	7.81%	7.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	803.84%	-1,312.13%	-651.94%	-1,775.25%	24,337.89%	838.05%	887.33%	539.35%	269.00%	364.90%	294.46%
Augmented Payout Ratio	803.84%	-1,312.13%	-651.94%	-1,775.25%	24,337.89%	838.05%	887.33%	539.35%	269.00%	364.90%	294.46%

Key Financial Trends

UMH Properties, a real estate investment trust, has shown varied financial performance over the last several quarters, with recent Q1 2025 data and previous years' quarterly results indicating mixed trends.

Positive Developments:

In Q1 2025, UMH generated a consolidated net income of approximately $4.81 million, showing profitability on a continuing operations basis, which is a positive signal for shareholders.
The company reported steady other non-interest income around $61.2 million in Q1 2025, consistent with prior quarters contributing to total revenues exceeding $61 million.
Depreciation expense has risen modestly to about $16.7 million in Q1 2025, reflecting growth in the property and equipment base, signifying ongoing investments in assets.
Total assets expanded to roughly $1.55 billion by Q1 2025, up from approximately $1.41 billion in Q1 2024 and $1.27 billion in Q3 2022, pointing towards asset growth over time.
The company has maintained a sizeable common equity base, reaching approximately $590.6 million in Q1 2025, signaling strong shareholder equity capital.

Neutral Observations:

UMH’s net income attributable to common shareholders was negative $271,000 in Q1 2025, due to preferred dividends exceeding net income, suggesting potential pressure on common equity returns.
The firm had a high level of long-term debt of about $606 million in Q1 2025, relatively stable compared to previous quarters but representing significant leverage.
Cash and equivalents decreased to about $35.2 million in Q1 2025 from over $66 million in Q3 2024, primarily due to heavy investment and financing cash flows, which is typical in growth phases.
Diluted earnings per share for Q1 2025 were reported as $0.00, reflecting a break-even position for shareholders on a per-share basis for this quarter.

Areas of Concern:

UMH’s net income attributable to common shareholders has been negative in multiple quarters, including in Q1 2025 (-$271k), Q1 2024 (-$6.26 million), and several other quarters, indicating ongoing challenges in profitability for common shareholders.
The payment of preferred stock dividends consistently exceeds net income in recent quarters, which pressures earnings available to common shareholders and may constrain dividend growth for common equity holders.
The company’s net cash used in investing activities remains significantly negative (e.g., -$56.4 million in Q1 2025), driven primarily by purchases of property and investment securities, which could strain liquidity if not matched by operating cash flows and financing.
There has been increased net cash outflows in financing activities over recent quarters, including substantial dividend payments and debt repayments, which could impact financial flexibility.
Negative net income and diluted EPS figures in several recent quarters, along with significant dividend obligations, suggest UMH is navigating profitability pressures and capital structure challenges.

Overall, UMH Properties is experiencing growth in assets and stable revenue from non-interest income, but profitability remains pressured for common shareholders due to preferred dividends and other costs. The company’s ongoing investments in property and equipment are positive for long-term growth but have resulted in negative cash flows from investing activities. Investors should watch UMH's ability to improve net income attributable to common shareholders and manage leverage and dividend payouts to assess future financial health.

08/03/25 04:01 PMAI Generated. May Contain Errors.

Frequently Asked Questions About UMH Properties' Financials

When does UMH Properties' financial year end?

According to the most recent income statement we have on file, UMH Properties' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has UMH Properties' net income changed over the last 10 years?

UMH Properties' net income appears to be on an upward trend, with a most recent value of $21.44 million in 2024, rising from $4.24 million in 2014. The previous period was $7.85 million in 2023. Check out UMH Properties' forecast to explore projected trends and price targets.

How has UMH Properties' revenue changed over the last 10 years?

Over the last 10 years, UMH Properties' total revenue changed from $72.97 million in 2014 to $240.55 million in 2024, a change of 229.6%.

How much debt does UMH Properties have?

UMH Properties' total liabilities were at $647.82 million at the end of 2024, a 10.1% decrease from 2023, and a 140.4% increase since 2014.

How much cash does UMH Properties have?

In the past 10 years, UMH Properties' cash and equivalents has ranged from $4.22 million in 2016 to $116.18 million in 2021, and is currently $99.72 million as of their latest financial filing in 2024.

How has UMH Properties' book value per share changed over the last 10 years?

Over the last 10 years, UMH Properties' book value per share changed from 4.96 in 2014 to 7.52 in 2024, a change of 51.6%.

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This page (NYSE:UMH) was last updated on 8/3/2025 by MarketBeat.com Staff

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UMH Properties (UMH) Financials

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UMH Properties (UMH) Financials

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