Erez Asset Management Withholds Support for UMH Board Member
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 21 2026
0mins
UMH Properties shareholder Erez Asset Management, which owns approximately 4% of the outstanding shares of UMH Properties, issued a letter to fellow shareholders announcing its intention to withhold support from Presiding Independent Director Matthew Hirsch at UMH's 2026 Annual Meeting of Shareholders scheduled to be held on May 27. In the letter, Erez notes that Institutional Shareholder Services, or ISS, has recommended that shareholders withhold votes from Hirsch in 2026, as it did each of the last three times he stood for election. "UMH owns valuable assets in one of the most attractive real estate sectors, but shareholders have endured persistent underperformance because an entrenched and conflicted Board of Directors has refused to hold management accountable," said Bruce Schanzer, Chairman and Chief Investment Officer of Erez. "By withholding support from Matthew Hirsch, shareholders can send a clear message to the UMH Board that the status quo is no longer acceptable."
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Analyst Views on UMH
Wall Street analysts forecast UMH stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 15.180
Low
16.00
Averages
19.10
High
23.50
Current: 15.180
Low
16.00
Averages
19.10
High
23.50
About UMH
UMH Properties, Inc. is a real estate investment trust (REIT). The Company's primary business is the ownership and operation of manufactured home communities. It also leases manufactured homes to residents and through its wholly owned taxable REIT subsidiary, UMH Sales and Finance, Inc., sells and finances the sale of manufactured homes to residents and prospective residents. The Company owns and operates 145 manufactured home communities, containing approximately 27,100 developed homesites, of which 11,200 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 145 communities are two communities in Florida, containing 363 sites, and one community in Pennsylvania, containing 113 sites, that the Company has an ownership interest in and operates through its joint venture with Nuveen Real Estate.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Importance of Housing Infrastructure: VP Aaron Potter highlighted that housing is a crucial part of the nation's social infrastructure, often overlooked in sustainability discussions, and UMH addresses this challenge by expanding access to affordable housing.
- Community Development Investment: Currently, UMH owns and operates 145 manufactured home communities, providing approximately 27,100 developed homesites, with 11,200 designated for rental homes, showcasing the company's efforts to meet diverse housing needs.
- Strategic Positioning: These communities are located across several states, including New Jersey, New York, and Florida, with UMH operating some through joint ventures with Nuveen Real Estate, further strengthening its market position and business expansion capabilities.
See More
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- Market Trend Observation: The stock has experienced significant fluctuations over the past year, with the current price hovering around the midpoint, suggesting that investors may be awaiting clearer market signals to make buy or sell decisions.
- Technical Indicator Reference: The recent trading price has crossed above its 200-day moving average, potentially indicating a short-term upward trend that may attract increased investor interest.
- Investor Sentiment Assessment: Although the current price is below the 52-week high, it remains above the low, reflecting a degree of market confidence, which may lead investors to consider opportunities within this price range.
See More
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- Succession Plan: Kevin Miller will take over as CFO on the same day; currently serving as CFO of the UMH OZ Fund, Miller brings extensive financial management experience that may provide new perspectives and strategic direction for the company.
- Transition Support: Anna Chew will remain in an advisory role post-retirement to ensure a smooth transition and maintain governance stability, which is a positive signal for investors indicating the company's commitment to management continuity.
- Business Target Adjustment: UMH Properties aims to add over 800 new rental homes and has tightened its 2026 normalized FFO guidance to $0.98-$1.04 per share, reflecting the company's proactive expansion strategy in the market.
See More
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- Industry Recognition: In 2026, UMH was awarded the Community Operator of the Year by the Manufactured Housing Institute for the fifth time, along with the Leadership in Sustainability Award and the Land-Lease Community of the Year Award, further solidifying its leadership position in the industry.
- Commitment to Community Investment: UMH is dedicated to providing affordable, quality housing and has invested in its 145 manufactured home communities to enhance revenue and earnings, ensuring long-term value creation for every shareholder, demonstrating its responsibility to both communities and investors.
- Operational Scale Expansion: UMH currently operates approximately 27,100 developed homesites, with 11,200 rental homes across multiple states, showcasing its extensive footprint and influence in the U.S. manufactured housing market.
See More
UMH Properties to Participate in REITweek Investor Conference
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- Management Presentation Schedule: The company's senior management team is scheduled to present at 10:15 a.m. Eastern Time, enhancing transparency and increasing investor engagement through the live presentation format.
- Webcast and Replay Availability: The presentation will be available live on the company's website and can be replayed for 60 days afterward, which not only accommodates investors who cannot attend in real-time but also demonstrates the company's commitment to effective communication.
- Community Operations Overview: UMH Properties operates 145 manufactured home communities with approximately 27,100 developed homesites, including 11,200 rental homes across multiple states, highlighting its extensive footprint and operational capabilities in the manufactured housing market.
See More
Manufactured Housing as a Solution to U.S. Affordability Crisis
- Housing Affordability Solution: David Auerbach from Hoya Capital highlighted on Seeking Alpha's podcast that manufactured housing has evolved by 2026 into a viable option for budget-conscious buyers, showcasing the sector's significant potential.
- Top Investment Picks: Auerbach identified UMH Properties (UMH) as a leading investment in the manufactured housing space, with Equity Lifestyles (ELS) and Sun Communities (SUI) providing additional exposure, reflecting growing market interest in this sector.
- Apartment REIT Consolidation Trend: Center Space's recent $250 million property sale to simplify its portfolio indicates that the apartment REIT sector may face significant consolidation, especially as larger firms look to acquire smaller companies.
- Increased Market Competition: Auerbach noted that the merger between Avalon (AVB) and Equity Residential (EQR) underscores the importance of size, scale, and operational scope in today's competitive REIT landscape, suggesting potential for more acquisition activity in the future.
See More
UMH Properties Releases 2025 Sustainability Report
- Sustainability Report Released: UMH Properties has published its 2025 Sustainability Report, emphasizing how investments in attainable housing and energy-efficient infrastructure enhance community resilience, demonstrating that responsible growth can create value for residents and shareholders.
- Importance of Housing Infrastructure: VP Aaron Potter highlighted that housing is a crucial part of the nation's social infrastructure, often overlooked in sustainability discussions, and UMH addresses this challenge by expanding access to affordable housing.
- Community Development Investment: Currently, UMH owns and operates 145 manufactured home communities, providing approximately 27,100 developed homesites, with 11,200 designated for rental homes, showcasing the company's efforts to meet diverse housing needs.
- Strategic Positioning: These communities are located across several states, including New Jersey, New York, and Florida, with UMH operating some through joint ventures with Nuveen Real Estate, further strengthening its market position and business expansion capabilities.
See More
Analysis of UMH Stock's 52-Week Highs and Lows
- Price Fluctuation Analysis: UMH's 52-week low stands at $13.9301 per share, while the high reaches $17.44, with the last trade recorded at $15.29, indicating a cautious market sentiment reflected in the stock's price movements between these extremes.
- Market Trend Observation: The stock has experienced significant fluctuations over the past year, with the current price hovering around the midpoint, suggesting that investors may be awaiting clearer market signals to make buy or sell decisions.
- Technical Indicator Reference: The recent trading price has crossed above its 200-day moving average, potentially indicating a short-term upward trend that may attract increased investor interest.
- Investor Sentiment Assessment: Although the current price is below the 52-week high, it remains above the low, reflecting a degree of market confidence, which may lead investors to consider opportunities within this price range.
See More
UMH Properties CFO Anna Chew to Retire, Kevin Miller Appointed
- Executive Retirement: UMH Properties announced that Executive Vice President and CFO Anna Chew will retire on June 1, marking a significant leadership change that could impact investor confidence in the company's future financial management.
- Succession Plan: Kevin Miller will take over as CFO on the same day; currently serving as CFO of the UMH OZ Fund, Miller brings extensive financial management experience that may provide new perspectives and strategic direction for the company.
- Transition Support: Anna Chew will remain in an advisory role post-retirement to ensure a smooth transition and maintain governance stability, which is a positive signal for investors indicating the company's commitment to management continuity.
- Business Target Adjustment: UMH Properties aims to add over 800 new rental homes and has tightened its 2026 normalized FFO guidance to $0.98-$1.04 per share, reflecting the company's proactive expansion strategy in the market.
See More
UMH Properties Board Re-elected at Annual Meeting
- Significant Shareholder Returns: UMH Properties has achieved a total shareholder return of 16.4% over the past three years and 159.5% over the past decade, positioning it as one of the top-performing publicly traded REITs, reflecting the company's operational excellence and disciplined strategy.
- Industry Recognition: In 2026, UMH was awarded the Community Operator of the Year by the Manufactured Housing Institute for the fifth time, along with the Leadership in Sustainability Award and the Land-Lease Community of the Year Award, further solidifying its leadership position in the industry.
- Commitment to Community Investment: UMH is dedicated to providing affordable, quality housing and has invested in its 145 manufactured home communities to enhance revenue and earnings, ensuring long-term value creation for every shareholder, demonstrating its responsibility to both communities and investors.
- Operational Scale Expansion: UMH currently operates approximately 27,100 developed homesites, with 11,200 rental homes across multiple states, showcasing its extensive footprint and influence in the U.S. manufactured housing market.
See More
UMH Properties to Participate in REITweek Investor Conference
- Investor Conference Participation: UMH Properties will participate in the Nareit REITweek Investor Conference on June 2, 2026, at the New York Hilton Midtown, showcasing its strategic direction in the real estate investment trust sector, which is expected to attract significant investor interest.
- Management Presentation Schedule: The company's senior management team is scheduled to present at 10:15 a.m. Eastern Time, enhancing transparency and increasing investor engagement through the live presentation format.
- Webcast and Replay Availability: The presentation will be available live on the company's website and can be replayed for 60 days afterward, which not only accommodates investors who cannot attend in real-time but also demonstrates the company's commitment to effective communication.
- Community Operations Overview: UMH Properties operates 145 manufactured home communities with approximately 27,100 developed homesites, including 11,200 rental homes across multiple states, highlighting its extensive footprint and operational capabilities in the manufactured housing market.
See More
