UMH PROPERTIES, INC. Material Event - What Happened

Hey there! Let's break down what's going on with UMH Properties in a way that makes sense, without all the confusing financial talk. Think of this as me explaining it to you over a cup of coffee.

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1. What happened? (The actual event, in plain English)

Okay, so UMH Properties just released an operations update, giving us a sneak peek into how their business performed during the last three months of 2025 (the fourth quarter) and for the entire year of 2025.

This isn't their final, official earnings report yet (that's coming later!), but it's a detailed look at some key achievements and numbers. Here's the rundown:

• More Rental Homes: They added and rented out 170 new homes in the fourth quarter, and a whopping 717 new homes throughout 2025. They now own about 11,000 rental homes, with 93.8% of them occupied.
• Occupancy Boost: For their existing properties (what they call "Same Property"), occupancy went up by 33 units in the fourth quarter and by 354 units over the year, reaching 88.3%.
• Increased Sales: Their total home sales revenue hit $9.2 million in the fourth quarter (up 7% from last year) and $36.3 million for the whole year (up 8%).
• Higher Rental Income: Their overall rental and related income grew to $57.7 million in the fourth quarter (up 8%) and $226.2 million for the year (up 9%). For their existing properties, rental income was also up significantly.
• New Acquisitions: In the fourth quarter, they bought one manufactured home community in Albany, GA for $2.6 million, adding 130 homesites. For the full year, they acquired a total of five communities for $41.8 million, adding 587 homesites.
• Smart Financing: They successfully refinanced 17 communities, bringing in $193.2 million at a reasonable interest rate. This money was used to pay off old debt, invest in their rental home program, make property improvements, buy new communities, and even buy back some of their own stock.
• Value Growth: The appraisals for these refinanced communities showed a huge increase in value – their initial investment of $140 million was now valued at $309 million, a 121% increase!
• Stock Buyback: In the fourth quarter, they bought back 300,000 shares of their own common stock for about $4.5 million. They also sold some shares they owned in another company (Realty Income Corporation) for $5.7 million.

2. When did it happen?

This operations update was released on January 5, 2026.

3. Why did it happen? (The backstory and reasons)

So, why did UMH share this update? Companies regularly share their financial performance with investors to keep them informed about how the business is doing. This update covers their operating results for the end of 2025, fulfilling their commitment to transparency.

Specifically, UMH wanted to highlight a very strong year, showing investors the positive impact of their strategy: adding more rental homes, increasing occupancy, growing sales and income, and making smart acquisitions and refinancing deals that significantly increased the value of their properties.

4. Why does this matter? (The "So What?")

This is the big one. Why should you care? Because these preliminary results paint a very positive picture of UMH's financial health and growth. It suggests the company is successfully executing its strategy, leading to more rental homes, higher occupancy, and increased revenue.

• For the company: It shows their business plan is working, creating significant value in their properties and generating more income.
• For investors: These strong operational results could boost confidence in the company's future, potentially making the stock more attractive. The significant increase in property value from refinancing is a big win.

In simple terms, it looks like UMH had a really good year, and these moves are strengthening their business for the future.

5. Who is affected?

A few different groups of people might feel the ripple effects of this:

• Investors (that's you, potentially!): If you own UMH stock, these positive preliminary results could impact the value of your shares. It provides crucial information suggesting the company is performing well, which can influence investment decisions.
• Customers/Residents: The addition of many new rental homes and the acquisition of new communities mean more housing options and potentially improved communities. Strong financial health also means UMH has more resources to invest in their properties and services.
• Employees: Strong company performance generally means greater job security and potential opportunities within the company as it grows.
• The Company Itself: UMH's overall business strategy, financial health, and future direction are directly benefiting from these successful operations and strategic financial moves.

6. What happens next? (What to expect down the road)

This isn't the end of the story. Remember, these are preliminary estimates.

• We can expect investors and analysts to review these results and form their initial opinions.
• The company will release its final, official Fourth Quarter and Full Year 2025 results on Wednesday, February 25, 2026, after the stock market closes.
• UMH's senior management will then hold an earnings call on Thursday, February 26, 2026, at 10:00 a.m. Eastern Time, to discuss these results in more detail and provide their outlook for the future.

It's like getting a good preview of a movie; now we wait for the full feature film and the director's commentary!

7. What should investors/traders know? (Practical takeaways)

For those of you looking at UMH stock:

• Keep an eye on: The final, official results on February 25th and listen to the earnings call on February 26th. While these preliminary numbers are very positive, the final report will have all the audited details.
• Consider: These preliminary results show strong operational growth (more homes, higher occupancy, increased income) and smart financial management (refinancing, stock buyback). This suggests a healthy and growing business.
• Don't panic (or get overly excited) just yet: While the news is largely positive, it's always best to get the full picture from the official report and management's commentary before making big decisions. Do your own research and see how this fits into your overall investment strategy.

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Hopefully, that clears things up a bit! We'll keep an eye on how this develops with the final report next month.