Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Treated as a REIT (property company). None of the usual models had enough data, so this uses Analyst consensus and P/E comparison instead.
ACCE opinionUMH Properties Inc. Common Stock (UMH)
Fair value (2 models)
Not available
ACCE price target
$16.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 12 Oct 2026, 00:00 CEST.
Price used: $15.47 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
52
out of 100
Analysts
78% buy
9 covering
P/E
128.9x
forward 91.0x
1-year return
+6.4%
Dividend yield
5.83%
UMH Properties Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
UMH Properties owns and operates manufactured housing communities and self-storage facilities, leasing home sites to residents who own their own homes, which keeps its capital base lighter than a traditional apartment REIT. Its moat is the scarcity and sticky tenancy of manufactured home communities, where resident turnover is low and replacement housing is hard to permit. Revenue grew 7.7%, and the company's gross margin of 54.8% reflects the high-margin rental economics of that model, though its 18.8% operating margin and 3.4% ROE show how much of that is absorbed by financing and depreciation. At a trailing P/E of 126.8 and a forward P/E of 142.9, the market is pricing in a much stronger earnings recovery than the current numbers show, so the question is whether occupancy and rent growth can lift per-share earnings fast enough to justify it. The stock scores 52 out of 100 and sits outside major indices, so this is a name that warrants a deeper look only if you have a view on that earnings inflection.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
high
Valuation stretched on earnings
P/E of 125.8 and forward P/E of 142.9 imply earnings growth is not fully priced in or is being discounted; with net margin at 11.6% and ROE at 3.4%, returns on equity are thin for the multiple paid.
moderate
Leverage and sequential slowdown
Debt/Equity of 0.84 is meaningful for a REIT, and QoQ revenue fell 1.7% even though YoY revenue grew 7.7%, suggesting momentum is softening.
AI research notes
AI-assisted·How I use AIWritten Oct 20, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 7.7% over the past year, and the five-year average annual growth rate is 9.9%.
Free cash flow over the last twelve months was $82M, and the free cash flow yield at the current price is 6.3%.
Seven of nine analysts rate the stock Buy or Strong Buy, and their mean price target sits 25.0% above the share price.
Why it could disappoint
The trailing P/E is 125.8x and the forward P/E is 142.9x, far above the sector median forward P/E of 18.6x.
Return on equity is just 3.4% and return on invested capital is 1.3%, so the business earns little on the capital it uses.
The diluted share count rose 14.1% last fiscal year, diluting existing holders' stake in the company.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 2, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where UMH's valuation models land
Price
$15.47
Model fair valueConfidence: low
about $10.74
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Analyst consensus
P/E comparison
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Quality
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