Jeffrey A. Carus, a director at UMH Properties (NYSE:UMH), purchased 500 shares of the company's common stock on April 1, 2026, a Form 4 filing with the Securities and Exchange Commission shows. The shares were acquired at $14.50 each for a total outlay of $7,250.
UMH's shares were trading at $14.57 at the time of reporting, roughly in line with Carus's purchase price. InvestingPro analysis cited in the filing indicates UMH is considered undervalued relative to its Fair Value and is included on a Most Undervalued list.
Holdings and option positions
After the April 1 purchase, Carus directly holds 33,565.73 shares of UMH Properties common stock. He also has indirect custodial holdings for his sons - 729.39 shares for Daniel and 620.58 shares for Ethan. Separately, Carus directly owns 500 shares of UMH Properties, Inc. Preferred D.
Carus retains option rights to acquire an additional 47,000 shares of UMH common stock, with exercise prices ranging from $14.36 to $16.86.
Company profile and dividend
The REIT carries a market capitalization of $1.24 billion and offers a dividend yield of 6.24%. According to InvestingPro, UMH has paid dividends for 37 consecutive years, a metric noted in the disclosure accompanying the filing.
Recent financial performance
UMH reported fourth-quarter 2025 results that missed analysts' expectations. The company posted an earnings per share (EPS) of -$0.01 versus a consensus forecast of $0.05, a negative surprise quantified in the filing as 120%. Revenue for the quarter came in at $66.97 million, below the $68.84 million estimate, representing a 2.72% shortfall.
Those results are presented in the filing as evidence of recent challenges in meeting analysts' projections.
Takeaway
The modest open-market purchase by a company director increases his direct and indirect economic exposure to UMH at a time when the REIT is trading near the purchase price and has recently missed quarterly estimates. The filing documents both continued insider ownership and existing option exposure while also flagging valuation views and recent operating performance.