UMH · UMH Properties, Inc.

UMH Properties, Inc. disclosed two material definitive agreements on May 12, 2026, both aimed at enhancing its capital-raising flexibility. First, the company entered into Amendment No. 1 to its existing Equity Distribution Agreement, which updates the list of distribution agents by removing Janney Montgomery Scott LLC and adding Wells Fargo Securities, LLC. Under the amended agreement, UMH may sell up to $150 million of its common stock through at-the-market offerings, with approximately $44.6 million of capacity remaining from prior sales. Second, UMH entered into an Amended and Restated At Market Issuance Sales Agreement with B. Riley Securities, Cantor Fitzgerald, and Maxim Group for the sale of up to $100 million of its 6.375% Series D Cumulative Redeemable Preferred Stock, with $97.5 million of unsold capacity carried over. Both offerings are registered under a new Form S-3 registration statement filed on May 11, 2026. The proceeds from both programs are intended for working capital and general corporate purposes, including purchases of manufactured homes, community expansion, potential acquisitions, and short-term debt repayment. These agreements provide UMH with significant additional liquidity to fund its growth strategy, while the updated agent lineup may improve execution. The filing also includes legal opinions from Womble Bond Dickinson and Paul Hastings regarding the validity of the shares and tax matters.