UMH Narrows 2026 Normalized FFO Outlook to $0.99-$1.03 Per Share

UMH Properties, Inc. narrowed its 2026 normalized funds from operations (FFO) outlook to $0.99 to $1.03 per diluted share, while keeping the midpoint at $1.01, as the manufactured housing company points to policy changes in its plans for next year.

The revised range tightens UMH's full-year guidance without changing its midpoint. Third-quarter home sales increased 29%. Occupancy improved.

Samuel A. Landy, president and CEO, described 2027 as a new beginning primarily because of the ROAD to Housing Act and amendments to Opportunity Zone incentives. Landy also said home sales should become a larger driver of revenue and occupancy. Separately, he described vacant sites and land as an organic growth pipeline.

The company’s home-sales performance and occupancy gains come as it looks to expand the role of home sales in its business.

UMH's CFO discussed mortgage refinancing. Some existing loans were in the high 4% range, while new loans were coming in around the low 6% range. The company expects leverage to increase slightly.

The CFO said current share prices were unfavorable for an equity issuance and that UMH expected to use its revolving credit line in the short term.