In 2025, UMH Properties leveraged its diversified manufactured home community assets to deliver revenue growth, improved operating margins, and robust cash flow generation. Strategic acquisitions and expansions increased portfolio scale while disciplined capital raising enhanced liquidity and financial flexibility. Cost-efficiency gains combined with strong occupancy rates bolstered net operating income, supporting incremental normalized funds from operations per share. The company maintained a balanced approach to dividends and share repurchases aligned with cash flow, navigating regulatory and inflationary challenges while accessing multiple capital channels for growth.