UMH Properties, Inc.

NYSE Amex:UMH

NYSE Virtual Global Investor Conference

January 2010

Michael P. Landy
VP Investments
Slide 1
Forward Looking Statements
This presentation contains various "forward-looking statements" within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, and the Company intends
that such forward-looking statements be subject to the safe harbors created thereby. The
words "may", "will", "expect", "believe", "anticipate", "should", "estimate", and similar
expressions identify forward-looking statements. These forward-looking statements reflect
the Company's current views with respect to future events and financial performance, but
are based upon current assumptions regarding the Company's operations, future results
and prospects, and are subject to many uncertainties and factors relating to the Company's
operations and business environment which may cause the actual results of the Company
to be materially different from any future results expressed or implied by such forward-
looking statements. Additional information concerning factors that could cause actual
results or events to differ materially from these forward-looking statements is contained in
the Company’s annual report on Form 10-K and described from time to time in the
Company’s other filings with the SEC. The Company undertakes no obligation to publicly
update or revise any forward-looking statements whether as a result of new information,
future events, or otherwise.
Slide 2
Slide 3 3
Company Overview
• 43rd
• Year of Operation
• 28 Manufactured Home Communities
• Approximately 6800 Home Sites
• Located in Pennsylvania, New York, New Jersey,
Ohio, and Tennessee
•Long-term track record of profitability and
dividends
•High degree of management ownership: Currently
20%

Slide 4 4
UMH Properties, Inc.
•$103 mil. Equity Market Cap.
• Current Yield 8.5%.
• Dividend Payout Ratio 93%.
• Currently Trading at 11x FFO.
• Debt / Total Cap 48%.

Slide 5 5
Property Portfolio

Slide 66
Capital Structure

UMH has an equity

market capitalization
of $103 million and
total debt of $95
million.

Total Market Cap = $198 million

Slide 7
Total Revenues

Slide 8
AFFO Per Share

AFFO represents FFO without the Gain or Loss on security transactions and the effect of interest rate swaps.

Slide 9
Per Share Annual Dividend 1991-2009

Slide 10
Portfolio Analysis
Real Estate Portfolio Operating Metrics Securities Portfolio $31 Mil.
 Total Communities: 28  Securities as a percentage of assets: 12%
 Total Sites: 6,800  $17 mil. of securities portfolio is invested in MREIC
 Current Occupancy: 80%  Percentage composition based on value:
 Average Monthly Site Rent: $400  REIT Preferred stock: 29%
 Home Rentals as a % of Occupied Sites 10%  REIT Common stock: 55%
 Additional Land (acreage): 500  Bonds: 16%

Slide 11
Annual Sales Data 2005 - 2009

Slide 12
New Home Sales 2005 - 2009

Slide 13
The Cyclicality of Housing

Sources: Federal Reserve, US Department of Housing,

Slide 14
NMHC.
First Mortgage Loan Defaults

Sources: Moody’s Economy.com

Slide 15
Single Family Home Price Change Year Ago

Source: S&P/Case-Shiller Composite 20 Index through Slide 16

October 2009.
US Homeownership Rate 1965 - 2009

Source: US Census Bureau

Slide 17
Portfolio Occupancy

Slide 18
Performance Versus REIT Index

Source: SNL as of January 1, 2010.

Slide 19
For additional information including all
SEC filings please visit:
WWW.UMH.COM

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