UMH Properties Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	221.77	207.02	189.75	170.43	159.03	143.34
Other Revenue	34.5	33.16	30.37	24.67	27.07	20.27
Total Revenue	256.27	240.18	220.12	195.11	186.1	163.61
Revenue Growth (YoY	8.96%	9.11%	12.82%	4.84%	13.75%	11.61%
Property Expenses	115.92	109.25	102.43	93.22	88.14	77.59
Selling, General & Administrative	29.46	27.76	25.32	20.78	16.91	16
Depreciation & Amortization	65.01	60.24	55.72	48.77	45.12	41.71
Total Operating Expenses	210.39	197.25	183.47	162.77	150.17	135.3
Operating Income	45.89	42.93	36.64	32.33	35.93	28.31
Interest Expense	-27.15	-27.29	-32.48	-26.44	-19.16	-18.29
Interest & Investment Income	10.41	8.57	7.3	6.99	8.46	8.65
Other Non-Operating Income	0.97	0.79	1.08	1.24	0.63	0.72
EBT Excluding Unusual Items	30.12	25.01	12.55	14.12	25.86	19.39
Gain (Loss) on Sale of Investments	-2.46	-2.61	-3.37	-15.45	27.39	-14.12
Gain (Loss) on Sale of Assets	-0.13	-0.11	-	-0.17	-0.17	-0.22
Other Unusual Items	-0.85	-0.85	-1.33	-3.48	-2	-
Pretax Income	26.68	21.44	7.85	-4.97	51.09	5.06
Earnings From Continuing Operations	26.68	21.44	7.85	-4.97	51.09	5.06
Minority Interest in Earnings	0.2	0.19	0.16	0.12	-	-
Net Income	26.88	21.64	8.01	-4.85	51.09	5.06
Preferred Dividends & Other Adjustments	20.38	19.16	16.72	31.41	29.84	34.81
Net Income to Common	6.5	2.47	-8.71	-36.27	21.25	-29.76
Net Income Growth	-3.70%	170.13%	-	-	910.64%	-81.78%
Basic Shares Outstanding	83	74	63	54	46	41
Diluted Shares Outstanding	84	75	64	54	47	41
Shares Change (YoY)	16.77%	17.64%	17.08%	14.67%	14.58%	2.96%
EPS (Basic)	0.08	0.03	-0.14	-0.67	0.46	-0.72
EPS (Diluted)	0.08	0.03	-0.15	-0.67	0.45	-0.72
Dividend Per Share	0.880	0.850	0.820	0.800	0.760	0.720
Dividend Growth	4.76%	3.66%	2.50%	5.26%	5.56%	-
Operating Margin	17.90%	17.87%	16.65%	16.57%	19.31%	17.30%
Profit Margin	2.54%	1.03%	-3.96%	-18.59%	11.42%	-18.19%
EBITDA	110.9	103.17	92.36	81.1	81.06	70.02
EBITDA Margin	43.27%	42.96%	41.96%	41.57%	43.55%	42.80%
D&A For Ebitda	65.01	60.24	55.72	48.77	45.12	41.71
EBIT	45.89	42.93	36.64	32.33	35.93	28.31
EBIT Margin	17.90%	17.87%	16.65%	16.57%	19.31%	17.30%
Funds From Operations (FFO)	74.99	66.26	51.07	28.49	39.15	26.28
FFO Per Share	-	0.88	0.80	-	-	-
Adjusted Funds From Operations (AFFO)	-	66.26	51.07	28.49	39.15	26.28
AFFO Per Share	-	0.88	0.80	-	-	-
FFO Payout Ratio	92.43%	89.16%	96.09%	142.61%	80.50%	101.42%
Revenue as Reported	256.66	240.55	220.93	195.78	186.12	163.61

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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