Form 4: UMH Director Boosts Stake via Dividend Reinvestment Plan

A UMH Properties, Inc. director increased direct and indirect beneficial ownership of common stock through a dividend reinvestment plan.

Summary

• Jeffrey A Carus, a Director of UMH Properties, Inc., reported changes in beneficial ownership of the company's securities.
• On December 15, 2025, Mr. Carus acquired 32.79 shares of UMH Properties, Inc. common stock directly at a price of $15.25 per share through the Dividend Reinvestment and Stock Purchase Plan.
• On the same date, Mr. Carus also acquired 32.79 shares indirectly for a custodial account for his son, Daniel, at $15.25 per share via the Dividend Reinvestment and Stock Purchase Plan.
• Additionally, 32.79 shares were acquired indirectly for a custodial account for his son, Ethan, at $15.25 per share through the Dividend Reinvestment and Stock Purchase Plan.
• Following these transactions, Mr. Carus directly beneficially owns 30,023.85 shares of UMH Properties, Inc. common stock and 500 shares of UMH Properties, Inc. Preferred D stock.
• Indirect beneficial ownership includes 719.3 shares for Daniel's custodial account and 612.06 shares for Ethan's custodial account.
• Mr. Carus also holds derivative securities, including options to acquire 11,000 shares at $15.80 (exercisable 01/10/2025, expiring 01/10/2034), 10,000 shares at $14.36 (exercisable 03/21/2024, expiring 03/21/2033), and 12,000 shares at $16.86 (exercisable 06/16/2026, expiring 06/16/2035).

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as a director is increasing their stake in the company, albeit through a routine dividend reinvestment plan and in relatively small amounts. This indicates continued confidence from an insider.

Positives

• A director increasing their stake, even through a routine dividend reinvestment plan, can signal continued confidence in the company's future prospects.
• The transactions were made pursuant to a Rule 10b5-1 plan, indicating pre-planned, systematic acquisitions.

Future Outlook

NA

Industry Context

This filing reports routine insider transactions and does not provide broader industry context or trends. UMH Properties, Inc. operates as a real estate investment trust (REIT) specializing in manufactured home communities.

Related Party Transactions

• Indirect acquisition of shares for custodial accounts for the reporting person's sons, Daniel and Ethan, through the Dividend Reinvestment and Stock Purchase Plan.

Stakeholder Impact

• Shareholders may view the director's increased stake, even if small and routine, as a minor positive signal of management's alignment with shareholder interests and confidence in the company's performance.

Key Dates

Recommendation

The reported transactions are routine acquisitions through a dividend reinvestment plan by a director and involve relatively small amounts of shares. While insider buying can be a positive signal, these specific transactions are not substantial enough to warrant a change in investment recommendation from a seasoned investor or institution. It primarily reinforces a 'hold' position for existing investors rather than suggesting a 'buy' or 'sell' for new capital.

Keywords

UMH Properties, UMH, Jeffrey A Carus, Director, Insider Trading, Form 4, Beneficial Ownership, Dividend Reinvestment Plan, Stock Purchase, Equity Acquisition, Real Estate Investment Trust