FREEHOLD, N.J. - UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) announced Monday that Anna T. Chew will retire as Executive Vice President, Chief Financial Officer and Treasurer effective June 1, 2026, according to a press release statement.
Chew served 35 years with the manufactured home communities operator, including over 31 years as CFO. She will continue in an advisory role and remain on the company’s Board of Directors.
Kevin S. Miller will succeed Chew as CFO on June 1, 2026. Miller is a Certified Public Accountant who has served as CFO of UMH OZ Fund, LLC since October 2022. He previously worked as CFO of Monmouth Real Estate Investment Corporation for ten years, Assistant Controller of Forest City Ratner Companies for seven years, and as an Audit Manager at PKF O’Connor Davies for twelve years.
"I’m incredibly grateful to Anna for her many contributions to UMH during her more than three decade career with us," said Samuel A. Landy, President and Chief Executive Officer of UMH.
During Chew’s tenure, UMH grew from 20 communities to 145 communities. The company’s annual revenue increased from under $10 million to over $260 million, reaching $265.94 million in the last twelve months. The company currently trades at a market capitalization of $1.33 billion and maintains a dividend yield of 5.76%. According to InvestingPro data, UMH has maintained dividend payments for 37 consecutive years, nearly matching Chew’s entire tenure with the company. The stock currently trades near its Fair Value, with InvestingPro offering deeper insights through its comprehensive Pro Research Report.
UMH Properties, organized in 1968, owns and operates 145 manufactured home communities containing approximately 27,100 developed homesites across 12 states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. The communities include 11,200 rental homes and over 1,000 self-storage units.
In other recent news, UMH Properties reported a strong performance for the first quarter of 2026, with earnings per share (EPS) reaching $0.03, far exceeding the anticipated $0.0067. This represents an impressive earnings surprise of 347.76%. Additionally, the company posted revenues of $65.84 million, surpassing expectations by 10.79%. In another development, UMH Properties announced an amendment to its credit facility, extending its maturity to 2030. The revised agreement includes $260 million in available borrowings and a $340 million accordion feature, potentially increasing total availability to $600 million. The credit facility is syndicated with BMO Capital Markets Corp., JPMorgan Chase Bank, N.A., and Wells Fargo Bank, N.A. as joint lead arrangers. Furthermore, Erez Asset Management, which owns about 4% of UMH Properties, has declared its intention to withhold support from Presiding Independent Director Matthew I. Hirsch at the upcoming annual meeting. This decision stems from concerns over persistent underperformance and governance issues.
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