UMH Properties hits record home sales in second quarter
The manufactured home community operator reported home sales income of $11.4 million for the period.
UMH Properties (UMH), the manufactured home community operator, reported record quarterly home sales income in the second quarter of 2026.
The company saw a shift in its revenue mix as home sales reached a quarterly high, while rental income continued to climb on the back of increased occupancy across its portfolio.
Home sales income rose 9.2% year-over-year to $11.4 million, up from $10.5 million in the second quarter of 2025. This growth coincided with a rise in rental performance; total rental and related income increased 10.3% in July 2026 compared to July 2025, while same-store rental and related income grew 9.2% over the same period.
Occupancy metrics trended upward across both rental homes and community lots. Net rental home occupancy increased by 139 units during the quarter, bringing the total to approximately 11,200 homes with an occupancy rate of 95.3%. Community occupancy stood at 89.0%, while same-property occupancy reached 89.4%, adding 97 units during the quarter and 430 units for the first half of the year.
To support its financing and capital structure, the company generated $7.6 million in gross proceeds through the issuance and sale of approximately 353,000 shares of Series D Preferred stock at a weighted average price of $21.61 a share.
UMH also restructured its debt obligations. The company amended and extended its unsecured revolving line of credit to provide $260 million in available borrowings, with an accordion feature allowing up to $600 million. This move reduced the capitalization rate from 6.5% to 6.0% and lowered interest charges by 35 to 40 basis points.
In a strategic expansion of its lending options, the company launched a zero-down payment lending program for qualified U.S. Veterans through its COP program in partnership with Triad Financial Services.