PART I - FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.Financial%20Statements) The financial statements detail the company's financial position as of June 30, 2022, showing increased assets and liabilities, and a net loss primarily due to fair value changes in marketable securities [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to **$1.42 billion** while liabilities rose to **$901.4 million** due to bond issuance and preferred stock reclassification, decreasing equity Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | Dec 31, 2021 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **$1,423,265** | **$1,270,820** | **+$152,445** | | Net Investment Property and Equipment | $933,734 | $913,455 | +$20,279 | | Cash and Cash Equivalents | $275,807 | $116,175 | +$159,632 | | Marketable Securities at Fair Value | $46,932 | $113,748 | -$66,816 | | **Total Liabilities** | **$901,370** | **$528,680** | **+$372,690** | | Mortgages Payable, net | $468,811 | $452,567 | +$16,244 | | Series A Bonds, net | $98,811 | $0 | +$98,811 | | Series C Preferred Stock Called for Redemption | $247,100 | $0 | +$247,100 | | **Total Shareholders' Equity** | **$521,895** | **$742,140** | **-$220,245** | [Consolidated Statements of Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Income%20(Loss)) The company reported a **net loss of $6.7 million** for Q2 2022 and **$3.4 million** for H1 2022, primarily due to a significant decrease in marketable securities' fair value Key Income Statement Data (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | YTD 2022 | YTD 2021 | | :--- | :--- | :--- | :--- | :--- | | Total Income | $49,223 | $48,959 | $95,091 | $92,091 | | Rental and Related Income | $42,229 | $39,341 | $83,806 | $78,054 | | Sales of Manufactured Homes | $6,994 | $9,618 | $11,285 | $14,037 | | (Decrease) Increase in Fair Value of Marketable Securities | ($10,044) | $9,291 | ($41,794) | $19,510 | | Gain (Loss) on Sales of Marketable Securities, net | $0 | $436 | $30,721 | ($294) | | Net Income (Loss) | ($6,688) | $16,003 | ($3,413) | $29,881 | | Net Income (Loss) Attributable to Common Shareholders | ($22,478) | $8,403 | ($26,803) | $15,242 | | Net Income (Loss) Per Share – Basic and Diluted | ($0.41) | $0.18 | ($0.50) | $0.34 | [Consolidated Statements of Shareholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity decreased to **$521.9 million**, primarily due to the reclassification of **$247.1 million** Series C Preferred Stock to liabilities - The number of common shares outstanding increased from **51.7 million** at year-end 2021 to **54.7 million** at June 30, 2022, primarily through ATM offerings, the Dividend Reinvestment Plan (DRIP), and stock option exercises[17](index=17&type=chunk) - All **9.9 million** shares of 6.75% Series C Preferred Stock, valued at **$247.1 million**, were called for redemption and reclassified from equity to a liability on the balance sheet. An **$8.2 million** charge related to original issuance costs was recognized[17](index=17&type=chunk)[20](index=20&type=chunk)[75](index=75&type=chunk) [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased to **$5.4 million**, while investing activities provided **$0.9 million** and financing activities provided **$153.7 million** Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $5,415 | $33,203 | | Net Cash Provided by (Used in) Investing Activities | $871 | ($49,573) | | Net Cash Provided by Financing Activities | $153,701 | $90,036 | | **Net Increase in Cash** | **$159,987** | **$73,666** | [Notes To Consolidated Financial Statements](index=12&type=section&id=Notes%20To%20Consolidated%20Financial%20Statements) Notes detail acquisitions, a **$30.7 million** MREIC merger gain, **$102.7 million** bond issuance, ATM capital raising, and the **$249.6 million** Series C Preferred Stock redemption - The company operates as a REIT and owned **130** manufactured home communities with approximately **24,400** developed homesites as of June 30, 2022[24](index=24&type=chunk) Acquisitions during the Six Months Ended June 30, 2022 (in thousands) | Assets Acquired | At Acquisition Date | | :--- | :--- | | Land | $3,431 | | Depreciable Property | $13,875 | | **Total Assets Acquired** | **$17,306** | - In February 2022, the company received **$55.7 million** from the all-cash merger of Monmouth Real Estate Investment Corporation (MREIC), resulting in a realized gain of approximately **$30.7 million**[53](index=53&type=chunk) - The company issued **$102.7 million** of 4.72% Series A Bonds due 2027 in an offering to investors in Israel, receiving net proceeds of **$98.7 million**[61](index=61&type=chunk) - All **9.9 million** outstanding shares of 6.75% Series C Preferred Stock were redeemed on July 26, 2022, for a total payment of **$249.6 million**[97](index=97&type=chunk) - Subsequent to quarter end, on July 14, 2022, the company acquired Hidden Creek in Michigan for approximately **$21.1 million**[96](index=96&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **7%** increase in rental income, a **20%** decrease in home sales, and strategic capital raising including **$102.7 million** in bonds and **$58.2 million** from ATM programs [Overview and Business Strategy](index=27&type=section&id=Overview%20and%20Business%20Strategy) UMH operates **130** manufactured home communities, focusing on acquisitions, improvements, and adding rental homes to drive occupancy and operating results - As of June 30, 2022, the company owned and operated **130** manufactured home communities with approximately **24,400** developed homesites across ten states[104](index=104&type=chunk) - The company's business plan focuses on acquiring communities, making physical improvements, and adding rental homes to vacant sites to increase occupancy and improve operating results[108](index=108&type=chunk) - The company added **151** rental homes in the first six months of 2022, bringing the total to approximately **8,900**. The plan is to add **700-800** rental homes in total for 2022[110](index=110&type=chunk) [Supplemental Measures (Non-GAAP)](index=29&type=section&id=Supplemental%20Measures%20(Non-GAAP)) Non-GAAP measures show Community NOI increased **7%** to **$46.8 million**, while Normalized FFO decreased to **$17.7 million** due to higher expenses Community NOI (in thousands) | Period | 2022 | 2021 | % Change | | :--- | :--- | :--- | :--- | | Three Months Ended June 30 | $23,306 | $22,296 | +4.5% | | Six Months Ended June 30 | $46,812 | $43,872 | +6.7% | FFO and Normalized FFO (in thousands) | Metric | Q2 2022 | Q2 2021 | YTD 2022 | YTD 2021 | | :--- | :--- | :--- | :--- | :--- | | FFO Attributable to Common Shareholders | ($320) | $9,855 | $8,224 | $18,236 | | Normalized FFO Attributable to Common Shareholders | $8,695 | $10,281 | $17,670 | $18,982 | [Changes In Results Of Operations](index=32&type=section&id=Changes%20In%20Results%20Of%20Operations) Rental income grew **7%** to **$83.8 million**, while home sales decreased **20%**; results were impacted by a **$41.8 million** unrealized loss on securities - Rental and related income increased by **7%** for both the three and six months ended June 30, 2022, primarily due to acquisitions and rental rate increases of **3% to 4%**[122](index=122&type=chunk) - Sales of manufactured homes decreased **20%** from **$14.0 million** (**193** homes) in H1 2021 to **$11.3 million** (**147** homes) in H1 2022[125](index=125&type=chunk) - For H1 2022, the company recognized a **$30.7 million** gain on sales of marketable securities (from the MREIC merger) and a **$41.8 million** decrease in the fair value of its remaining securities[133](index=133&type=chunk) - Interest expense increased **22%** in H1 2022 compared to H1 2021, mainly due to interest on the newly issued Series A Bonds[134](index=134&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) The company strengthened liquidity by issuing **$102.7 million** in Series A Bonds and raising **$58.2 million** via ATM programs, enabling the **$249.6 million** Series C Preferred Stock redemption - In H1 2022, the company sold **2.4 million** shares of common stock through its ATM programs, generating net proceeds of **$58.2 million**[144](index=144&type=chunk) - The company issued **$102.7 million** of 4.72% Series A Bonds due 2027, receiving net proceeds of **$98.7 million**[145](index=145&type=chunk) - As of June 30, 2022, liquidity sources included **$275.8 million** in cash, **$46.9 million** in marketable securities, and availability on various credit facilities[147](index=147&type=chunk) - On July 26, 2022, the company redeemed all **9.9 million** shares of its 6.75% Series C Preferred Stock for a total payment of **$249.6 million**[148](index=148&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to quantitative and qualitative disclosures about market risk have occurred since the prior fiscal year-end - There have been no material changes regarding quantitative and qualitative disclosures about market risk since the end of the previous fiscal year[160](index=160&type=chunk) [Item 4. Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting - The company's management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of the end of the reporting period[161](index=161&type=chunk) - No material changes were made to the company's internal control over financial reporting during the second quarter of 2022[162](index=162&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) No legal proceedings were reported during the period - There are no legal proceedings to report[164](index=164&type=chunk) [Item 1A. Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the last annual report - No material changes to the company's risk factors have occurred since the last annual report[165](index=165&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds were reported - None reported[166](index=166&type=chunk) [Item 6. Exhibits](index=41&type=section&id=Item%206.%20Exhibits) Exhibits include CEO and CFO certifications and financial data formatted in iXBRL as required by the SEC - Exhibits filed include certifications from the CEO and CFO pursuant to the Securities Exchange Act of 1934 and the Sarbanes-Oxley Act of 2002[173](index=173&type=chunk) - The report includes financial statements and notes formatted in iXBRL[173](index=173&type=chunk)

UMH PROPERTIES, INC. UMH PROPERTIES, INC. Investor Presentation June 2022 Forward Looking Statements Statements contained in this presentation that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Also, when we use any of the words "anticipate," "assume," "believe," "estimate," "expect," "intend," or similar expressions, we are making forward-looking statemen ...

UMH PROPERTIES, INC. May 2022 UMH PROPERTIES, INC. Investor Presentation Forward Looking Statements Statements contained in this presentation that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Also, when we use any of the words "anticipate," "assume," "believe," "estimate," "expect," "intend," or similar expressions, we are making forward-looking statement ...

March 31, 2022 Supplemental Information UMH Properties, Inc. Juniper Business Plaza 3499 Route 9 North Freehold, NJ 07728 Website: www.umh.reit Email: ir@umh.com Phone: (732) 577-9997 | --- | --- | |-----------------------------------------------------------------------------|-------| | | Page | | Financial Highlights | 3 | | Consolidated Balance Sheets | 4 | | Consolidated Statements of Income (Loss) | 5 | | Consolidated Statements of Cash Flows | 6 | | Reconciliation of Net Income to Adjusted EBITDA and N ...

UMH Properties, Inc. (NYSE:UMH) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET Company Participants Nelli Madden - Vice President of Investor Relations Samuel Landy - President & Chief Executive Officer Anna Chew - Vice President & Chief Financial Officer Eugene Landy - Chairman Brett Taft - Vice President & Chief Operating Officer Daniel Landy - Vice President. Conference Call Participants Keegan Carl - Berenberg Rob Stevenson - Janney Craig Kucera - B. Riley Securities Brian Hollenden - Aegis Ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission File Number 001-12690 UMH PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 22-1890929 (State or other j ...

Financial Data and Key Metrics Changes - The company reported a total return of 91% in 2021, with an equity market capitalization surpassing $1 billion and an all-time high stock price of $27.50 [9] - Normalized FFO for Q4 was $0.22 per share, a 10% increase year-over-year, while normalized FFO for the full year was $0.87 per share, representing a 24% increase [11][26] - Total income for the year increased by 14% to approximately $186 million, driven by an 11% increase in rental and related income and a 34% increase in sales of manufactured homes [13] - The operating expense ratio improved to 42.8% from 44.1% in 2020, resulting in community NOI of approximately $91 million, a 13% increase over the previous year [13][28] Business Line Data and Key Metrics Changes - Rental and related income for Q4 was $40.7 million, an 8% increase from the previous year, while for the full year, it increased from $143.3 million in 2020 to $159 million in 2021, an 11% increase [27] - Sales of manufactured homes for the full year increased by 34% from $20.3 million in 2020 to $27.1 million in 2021, with a total of 370 homes sold [29] - The average sales price of manufactured homes rose to $73,000 from $63,000 in the prior year [29] Market Data and Key Metrics Changes - The company experienced strong demand for affordable housing, with occupancy rates remaining high at 95.5% and a waiting list for homes across the portfolio [15][41] - The company added 454 homes to its portfolio, bringing the total to 8,700 rental homes, despite facing manufacturer backlogs of six to twelve months [15][39] Company Strategy and Development Direction - The company aims to provide quality affordable housing through manufactured homes, with plans to develop 400 or more sites per year over the next five years [18][41] - A joint venture with Nuveen Real Estate was established for the acquisition and development of new manufactured housing communities, with an initial capital commitment of $170 million [20] - The company plans to redeem $247 million in Series C perpetual preferred stock and $215 million in Series D perpetual preferred stock, which is expected to increase FFO significantly [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future sales growth, citing strong demand and a robust pipeline of homes on order [49][51] - The company is well-positioned to continue growth initiatives, with access to various sources of capital and a strong financial position [39][43] - Management acknowledged the challenges posed by supply chain issues but emphasized the strong demand for affordable housing and the company's ability to meet that demand [67][81] Other Important Information - The company raised $182 million through common stock offerings and completed a bond offering in Israel, raising $102.7 million at a favorable interest rate of 4.72% [32][33] - The company maintains a strong liquidity position with $116 million in cash and cash equivalents and $50 million available on its credit facility [37] Q&A Session Summary Question: Impact of Series C preferred redemption on accretive FFO - Management indicated that every 100 basis points of improvement would yield approximately $0.04 of accretive FFO, with a 50-50 debt-equity mix expected [45][46] Question: Drivers behind home sales performance - Management noted that the fourth quarter is typically slower for sales, but demand remains strong, with a backlog of homes on order [48][49] Question: Expectations for the joint venture's impact on earnings - Management stated that the joint venture would have a minimal impact on earnings in 2022 but could be favorable in the long term as properties are filled [56][58] Question: Trends in rent collections and bad debt considerations - Management reported collections remain strong at 98% to 99%, with some challenges in New York and New Jersey being addressed [68][69] Question: Reaction to changing interest rate environment - Management confirmed that they have reduced rates to 4.99% for sales financing to remain competitive and support demand [70] Question: Discussion on dual listing and G&A increases - Management does not expect any material increase in G&A related to the dual listing [71]

December 31, 2021 Supplemental Information UMH Properties, Inc. Juniper Business Plaza 3499 Route 9 North Freehold, NJ 07728 Website: www.umh.reit Email: ir@umh.com Phone: (732) 577-9997 Table of Contents | --- | --- | |------------------------------------------------------------------------------|-------| | | Page | | Financial Highlights 3 | | | Consolidated Balance Sheets 4 | | | Consolidated Statements of Income (Loss) 5 | | | Consolidated Statements of Cash Flows 6 | | | Reconciliation of Net Income (L ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ____________________ to _____________________ Commission File Number 001-12690 UMH Properties, Inc. (Exact name of registrant as specified in its charter) Maryland 22-1890929 (Stat ...

UMH Properties, Inc. (NYSE:UMH) Q3 2021 Earnings Conference Call November 4, 2021 10:00 AM ET Company Participants Nelli Madden - VP, IR Eugene Landy - Chairman Samuel Landy - President and CEO Anna Chew - VP and CFO Brett Taft - VP and COO Jim Lykins - VP, Capital Markets Daniel Landy - VP Conference Call Participants Rob Stevenson - Janney Keegan Carl - Berenberg Craig Kucera - B. Riley Henry Coffey - Wedbush Brian Hollenden - Aegis Capital Operator Good day and welcome to the UMH Properties Third Quarter ...