What is the leverage profile (Debt/EBITDA, loan maturities) following the Q2 results and any refinancing risks?

Answer

The press release you quoted provides a solid snapshot of UM H Properties, Inc.’s (UMH) operating performance for the quarter ended June 30 2025—total income, net income, and Normalized Funds‑from‑Operations (FFO). However, it does not include any of the financial‑leverage details that are needed to answer a question about the company’s leverage profile (e.g., Debt‑/‑EBITDA ratio, loan maturity schedule, or refinancing risk).

Below is a clear explanation of what is missing, why those metrics matter, and where you can obtain the necessary data to construct a complete answer.

1. What’s Missing in the Press Release

Because none of these figures appear in the news item, we cannot compute the leverage ratios or assess the maturity structure directly from the provided information.

2. Why These Metrics Are Important for UM H Properties

• Debt‑/‑EBITDA (or Debt‑/‑FFO): REITs typically target a leverage range that balances growth (through acquisitions and development) with the need to maintain a credit‑worthy balance sheet. A higher ratio can signal greater financial risk, especially if cash‑flow generation is volatile.
• Loan Maturity Schedule: A concentrated set of maturities in the near term can create a “refinancing cliff,” where the company must refinance a large portion of its debt under potentially tighter market conditions (higher rates, reduced lender appetite).
• Refinancing Risk: Understanding the proportion of debt that is amortizing versus interest‑only, the availability of covenant waivers, and the company’s credit rating helps gauge the likelihood of covenant breaches or the need to secure new financing at less favorable terms.

3. Where to Find the Required Data

1. Form 10‑Q (Quarterly Report) for the period ending June 30 2025

   • The 10‑Q includes a Balance Sheet (total debt) and a Statement of Cash Flows (interest expense).
     
   • The MD&A section often provides a Debt‑/‑EBITDA ratio and a Maturity Schedule table.

2. Form 10‑K (Annual Report) for FY 2024

   • The 10‑K contains a five‑year debt maturity table and a discussion of refinancing risk that is usually updated each year.

3. Investor Presentation / Earnings Call Materials (often posted on the company’s Investor Relations website)

   • REITs frequently present a “Leverage Profile” slide that shows Debt‑/‑FFO, weighted‑average maturity, and any upcoming refinancing needs.

4. Credit Rating Agency Reports (e.g., Moody’s, S&P, Fitch)

   • These reports often comment on the company’s leverage and refinancing outlook.

5. SEC “Exhibit 99.1” (Debt Schedule) if the company has filed a supplemental schedule with the 10‑Q/10‑K.

4. How to Build the Leverage Profile Once You Have the Data

1. Calculate Total Debt:

   • Sum of senior term loans, mezzanine debt, revolving credit facilities, and any capital‑lease obligations classified as debt.

2. Derive EBITDA (or Normalized FFO):

   • For REITs, many analysts use Normalized Funds‑From‑Operations (FFO) as the cash‑flow proxy.
     
   • If the company reports Adjusted EBITDA, use that figure directly.

3. Compute Debt‑/‑EBITDA (or Debt‑/‑FFO):

   • Debt‑/‑EBITDA = Total Debt ÷ EBITDA
     
   • Debt‑/‑FFO = Total Debt ÷ Normalized FFO (if the company prefers this metric).

4. Assess Maturity Structure:

   • Create a bucketed schedule (e.g., 2025‑2026, 2027‑2028, 2029‑2030, >2030).
     
   • Identify any large “refinancing gaps” where >20‑30% of debt matures within a 12‑month window.

5. Identify Refinancing Risks:

   • Compare the refinancing gap to the company’s liquidity buffer (cash, credit line availability, and FFO generation).
     
   • Review any covenant‑reset dates that could trigger higher interest rates or stricter leverage caps.
     
   • Factor in macroeconomic conditions (e.g., rising interest rates in 2025‑2026) that could affect pricing.

5. Sample Framework (Illustrative Only)

The numbers above are placeholders. Once the 10‑Q is reviewed, you can replace them with the actual figures and compute the ratios.

6. Bottom Line

• From the press release alone, we cannot determine UM H Properties’ leverage profile or refinancing risk.
  
• To answer the question comprehensively, you’ll need to retrieve the company’s 10‑Q filing for Q2 2025 (or the latest investor presentation) where the balance‑sheet debt, EBITDA/FFO, and loan‑maturity schedule are disclosed.
  
• Once those documents are obtained, you can calculate the Debt‑/‑EBITDA (or Debt‑/‑FFO) ratio, map out the maturity timeline, and evaluate any potential refinancing gaps or covenant‑reset concerns.

If you can provide the relevant sections of the 10‑Q (or a link to the investor presentation), I would be happy to walk through the calculations and give you a precise leverage profile and risk assessment.