UMH Properties, Inc.
In the published model solve dated 2026-Q2, anchored at $15.23, UMH Properties, Inc. (UMH) is priced for +4.2% AFFO growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• UMH owns manufactured-housing communities and collects lot rent, the rent for the ground a home sits on, which is among the stickiest revenue in real estate because moving a manufactured home is expensive and rare, so residents stay and rents compound. • The compounding is visible: same-property NOI grew 7.1% in the first quarter on 5% site-rent increases and rising occupancy, and management guides full-year normalized FFO to $0.98 to $1.04 per share with mid-single-digit per-share growth [So
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257 institutional managers reported holding UMH in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 44%. 32 opened new positions that quarter. Held by Vanguard Group, BlackRock, FMR (Fidelity), among others. On the short side, 3.5M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (6.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
UMH's share count grew 78.1% over the past five years. It pays a dividend, and has paid one every year in our records (16 and counting); the current rate is $0.89 a share annually. Cash returned over the past three years: $174.11M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at UMH over the trailing three years: 2023: 18 buys totaling $32k; 2024: 6 buys totaling $6k; 2025: 10 buys totaling $187k; 2026: 4 buys totaling $46k. 15 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
UMH's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | -3.4% | -10.3% |
| 2023-11-09 | -1.8% | +8.5% |
| 2024-02-29 | +8.0% | +4.1% |
| 2024-05-03 | -3.0% | +6.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
UMH's latest 8-K filings: 2026-08-05 (items 2.02, 7.01, 9.01); 2026-07-09 (items 7.01, 9.01); 2026-07-06 (items 7.01, 9.01); 2026-07-01 (items 7.01, 9.01); 2026-06-23 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.