Umh

Earnings Release • Jan 7, 2024

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

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FORM 8-K ______________________________

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CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 4, 2024 ______________________________________

UMH Properties, Inc. (Exact name of registrant as specified in its charter) ______________________________________

Maryland 001-12690 22-1890929 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)

Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ 07728 (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (732) 577-9997

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of exchange on which registered
Common Stock, \$0.10 par value	UMH	New York Stock Exchange
6.375% Series D Cumulative Redeemable Preferred Stock, \$0.10 par value	UMH PRD	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] _____________________________________________________________________________________________

Item 7.01 Regulation FD Disclosure.

On January 4, 2024, the Company provided investors with an update on its year end 2023 operating results.

The information being furnished pursuant to this Item 7.01, including Exhibits 99 to this report, shall not be deemed "filed" for any purpose, including for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of such section. The information in this report, including Exhibits 99, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically incorporated by reference into any such filing. This report will not be deemed an admission as to the materiality of any information in this report that is required to be disclosed solely by Regulation FD.

Item 9.01 Financial Statements and Exhibits.

• (d) Exhibits.
• 99 Press Release dated January 4, 2024
• 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

UMH Properties, Inc.

Date: January 5, 2024 By: /s/ Anna T. Chew Name: Anna T. Chew Executive Vice President and Chief Financial Officer

UMH PROPERTIES, INC. 2023 YEAR END OPERATIONS UPDATE

FREEHOLD, NJ, January 4, 2024……UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust (REIT) specializing in the ownership and operation of manufactured home communities, is providing investors with an update on our year end 2023 operating results:

• 1. As of year end, UMH achieved an equity market capitalization of over \$1 billion.
• 1. During the year, UMH rented 1,040 new homes, 130 of which were rented during the fourth quarter. UMH now owns approximately 10,000 rental homes with an occupancy rate of 94.0%.
• 1. During the year, UMH sold 164 new homes, 41 of which were sold during the fourth quarter. Home sales revenue increased to \$31.1 million during the year ended 2023 from \$25.3 million during the year ended 2022, resulting in a 22.9% increase in home sales revenue.
• 1. Overall occupancy increased by 705 units for the year to 86.7%. Same-property occupancy increased by 632 units to 88.5%.
• 1. Our occupancy gains and rent increases achieved throughout 2023 have increased our January 2024 rental and related charges by approximately 12.0%, resulting in our annualized monthly rent roll generating approximately \$196 million.

Samuel A. Landy, President and CEO of UMH Properties, Inc., stated "Installing and renting 1,040 new homes during the year is the equivalent of building and occupying a 1,040-unit apartment complex within one year. It's an incredible accomplishment made possible by our success in acquiring manufactured home communities with vacancies, making capital and operational improvements, and adding cost-effective and energy-efficient manufactured homes. We look forward to building on the momentum we created in 2023."

It should be noted that the financial information set forth above reflects our preliminary estimates with respect to such information, based on information currently available to management, and may vary from our actual financial results as of and for the year and quarter ended December 31, 2023. UMH's Fourth Quarter and Full Year 2023 results will be released on Wednesday, February 28, 2024, after the close of trading on the New York Stock Exchange and will be available on the Company's website at www.umh.reit, in the Financials section. Senior management will discuss the results, current market conditions and future outlook on Thursday, February 29, 2024, at 10:00 a.m. Eastern Time.

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia. UMH also has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate.

Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company's current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company's annual report on Form 10-K and described from time to time in the Company's other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Contact: Nelli Madden 732-577-4062