Erez Releases Part 3 of Proxy Fight, Targeting Landy Family Over Monmouth
UMH is trading near its 52-week low of $13.93 (9.2% above the low).
Summary
Erez Asset Management published Part 3 of its campaign against UMH, arguing the Landy family's handling of Monmouth cost shareholders and that the same family influence persists on UMH's board. Erez holds roughly 5% of UMH and is building toward a board challenge at the 2027 annual meeting.
Key Events · Ownership and Investor Activity · UMH
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Erez Publishes Part 3 of Campaign
The new installment, 'Family First, Shareholders Last: The Saga of Monmouth', was posted at saveumh.com and pushed through social media, extending the campaign that began 2026-09-29.
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Monmouth Sale Allegations Detailed
Erez says the board backed a $17.25-a-share stock deal with Equity Commonwealth over a higher all-cash bid to spare the Landy family taxes; ISS opposed it, shareholders rejected it, and Monmouth later sold to ILPT for $21.00 a share in cash.
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Cross-Holdings and Board Overlap Cited
Erez states UMH owned as much as 8.5% of Monmouth and Monmouth owned as much as 3.4% of UMH, with 5 of UMH's 12 directors also sitting on Monmouth's board.
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Erez Stake Restated at 4.27M Shares
The filing states the participants may be deemed to beneficially own 4,270,000 UMH shares in aggregate, of which Erez REIT Opportunities LP directly holds 3,451,421.
Analysis · UMH · Real Estate & Construction
Ahead of UMH's 2027 annual meeting, Erez Asset Management is escalating its proxy fight with a new installment arguing the Landy family put its own interests ahead of shareholders at Monmouth. The specific new claim: the board took a $17.25-a-share stock deal over a higher all-cash bid to spare the Landy family taxes, and shareholders and ISS rejected it before Monmouth sold for $21.00 a share in cash. Erez frames this as a pattern that repeats at UMH, where three Landy family members still sit on the board. This is campaign material, not a financial disclosure, so it does not change UMH's cash flows or balance sheet — but it keeps pressure on the board and raises the odds of a contested 2027 proxy vote or a settlement that changes board composition.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 30.9% of the 1649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, UMH was trading at $15.21 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $13.93 to $16.77. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.