UMH PROPERTIES Business Summary

UMH Properties, Inc. (NYSE: UMH) is a self-managed real estate investment trust (REIT) specializing in the ownership and operation of manufactured home communities across the Eastern and Midwestern United States. The company’s revenue model is vertically integrated, generating income through three primary segments: rental and related income from leasing homesites and manufactured homes, retail sales of manufactured homes via its subsidiary UMH Sales and Finance, Inc., and interest income from proprietary consumer financing. As of March 2026, UMH manages a portfolio of 145 communities encompassing approximately 27,000 developed homesites, with a strategic pivot toward expanding its rental home inventory, which now exceeds 11,000 units. UMH competes directly with major manufactured housing REITs such as Sun Communities, Inc. (SUI), Equity LifeStyle Properties (ELS), and Flagship Communities REIT. Within this landscape, UMH distinguishes itself by targeting the affordable housing segment in secondary markets, positioning itself as a high-yield, growth-oriented alternative to larger, more diversified residential peers. Founded in 1968 by Eugene W. Landy, who continues to serve as Chairman of the Board, UMH is led by a seasoned executive team with exceptional tenure. President and CEO Samuel A. Landy has held his position since 1995, overseeing the company’s expansion and its transition toward a rental-heavy portfolio. Supporting the executive suite are Anna T. Chew, Executive Vice President and CFO, who manages the firm’s capital structure and Israeli bond issuances, and Brett Taft, Executive Vice President and COO, who directs community operations and site development. The company’s board includes experienced directors such as Matthew I. Hirsch and Michael P. Landy, ensuring strong family-led continuity alongside independent oversight. UMH maintains a robust institutional investor base, with nearly 80% of shares held by major firms including Vanguard and BlackRock, reflecting market confidence in its ability to capitalize on the persistent demand for essential affordable housing.