Recent news coverage highlights UMH's dividend activity, earnings call disclosures, and operational expansions including acquisitions and portfolio growth.

• UMH's dividend activity has been a focus, with discussions of an upcoming dividend run and regular dividend reports highlighting the company's dividend payments and increases [N1][N2][N8].
• The company held Q2 2026 earnings calls and provided transcripts and highlights detailing operational and financial performance [N3][N4].
• UMH expanded its footprint with acquisitions such as the Albany community in Georgia, reflecting ongoing portfolio growth [N6].
• Dividend reminders and reports indicate consistent dividend payments and shareholder returns [N8][N1].

UMH benefits from sustained demand for affordable housing and rental homes amid constrained housing inventory and elevated mortgage rates. The company's growth in rental income, occupancy, and funds from operations, alongside strategic acquisitions and capital raises, demonstrate operational execution. Its diversified income sources and capital structure provide flexibility to pursue accretive investments and enhance shareholder returns. Continued dividend increases and active capital management reflect financial discipline and shareholder focus.

UMH faces risks related to joint venture arrangements that limit decision-making authority and impose exit restrictions, potentially affecting operational flexibility. Market competition for suitable manufactured home communities may constrain acquisition opportunities. Economic factors such as changes in housing affordability, interest rates, or regulatory environments could impact occupancy, rental rates, and home sales. The company's exposure to marketable securities introduces valuation volatility. Operational risks include maintaining occupancy and managing expenses in a competitive real estate market.

UMH's moat derives from its extensive portfolio of manufactured home communities in multiple states, providing affordable housing with high occupancy and rental demand. The company's integrated business model includes leasing, home sales and financing, and ancillary services, creating diversified income streams. Its established relationships and joint ventures, including with Nuveen Real Estate, and access to capital markets through equity and debt offerings support growth and operational scale. The niche focus on manufactured housing communities in targeted regions with barriers to entry contributes to competitive positioning.

• Joint Venture Governance and Exit Risks: UMH's joint ventures with Nuveen Real Estate include provisions that limit UMH's control over decisions and impose restrictions on exit options, including Nuveen's right to require UMH to purchase its interest under certain conditions, which could adversely affect UMH's operations and financial position.
• Market Competition and Acquisition Availability: Competition for acquiring manufactured home communities that meet UMH's investment criteria is significant, and limited availability of suitable properties could restrict portfolio growth.
• Economic and Housing Market Factors: Changes in mortgage rates, housing affordability, and economic conditions may affect demand for rental homes, occupancy rates, and rental income, impacting UMH's financial performance.
• Valuation and Marketable Securities Exposure: UMH holds a portfolio of marketable equity securities of other REITs, which exposes the company to market valuation fluctuations and potential realized losses.
• Operational Risks: Maintaining high occupancy and managing operating expenses in a competitive real estate environment are ongoing challenges that could affect profitability.

• UMH PROPERTIES, INC. is a self-administered, self-managed REIT headquartered in Freehold, New Jersey, primarily engaged in ownership and operation of manufactured home communities.
• As of December 31, 2025, UMH operated 145 manufactured home communities with approximately 27,100 developed homesites, including 11,000 rental homes.
• The communities are located across twelve states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia.
• UMH leases manufactured home spaces on annual or month-to-month basis and also leases and sells manufactured homes through its wholly-owned taxable REIT subsidiary, S&F.
• The company formed an opportunity zone fund in 2022 to acquire, develop, and redevelop manufactured housing communities in Qualified Opportunity Zones, holding a 77% interest in this fund.
• UMH earns income from leasing homesites, rental homes, home sales and financing, third-party home sales brokerage, self-storage leases, oil and gas leases, cable service agreements, and property management fees from joint ventures and opportunity zone funds.
• In 2025, UMH increased rental and related income by 10%, community net operating income by 9%, normalized funds from operations by 15%, and normalized FFO per diluted share by 2%.
• Same property occupancy increased by 80 basis points to 88.3% as of December 31, 2025, with rental home occupancy at 93.8%.
• UMH acquired five communities in 2025 totaling 587 homesites for approximately $41.8 million.
• The company has a diversified capital structure including common stock, preferred stock, and debt, with recent issuances raising gross proceeds of $45.1 million from common stock and $2.1 million from preferred stock ATM programs.
• UMH issued $80.2 million aggregate principal amount of 5.85% Series B Bonds due 2030 in an offering to investors in Israel.
• As of September 30, 2026, UMH reported cash and cash equivalents of $38.2 million and revenue of $74.1 million for the nine months ended September 30, 2026.
• The company reported basic and diluted EPS of -$0.02 per share for the nine months ended September 30, 2026.
• UMH operates joint ventures with Nuveen Real Estate owning three communities, with a 40% interest held by UMH in these ventures.
• The joint venture agreements include provisions that may limit UMH's decision-making authority and impose restrictions on exit options, with Nuveen having rights to require UMH to purchase its interest under certain conditions.
• UMH's portfolio includes over 1,000 self-storage units available for leasing by residents.
• The company has a portfolio of marketable equity securities of other REITs valued at $23.8 million as of December 31, 2025, providing diversification and income.
• UMH has a common stock repurchase program authorized up to $100 million, with 320,000 shares repurchased in 2025 at an average price of $15.06 per share.
• Recent news highlights include discussions of dividend activity, earnings call transcripts and highlights, and operational expansions such as acquisition of communities in Georgia.
• The company has maintained dividend increases for five consecutive years, with the quarterly common stock dividend raised by 4.7% to $0.225 per share in 2025.
• UMH's business benefits from strong demand for affordable housing and rental homes, supported by macroeconomic factors such as mortgage rates and housing inventory constraints.