Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment Property and Equipment
Land	$ 81,114	$ 74,963
Site and Land Improvements	772,468	716,211
Buildings and Improvements	33,260	30,450
Rental Homes and Accessories	410,531	383,467
Total Investment Property	1,297,373	1,205,091
Equipment and Vehicles	25,916	24,437
Total Investment Property and Equipment	1,323,289	1,229,528
Accumulated Depreciation	(350,762)	(316,073)
Net Investment Property and Equipment	972,527	913,455
Other Assets
Cash and Cash Equivalents	62,512	116,175
Marketable Securities at Fair Value	39,217	113,748
Inventory of Manufactured Homes	57,206	23,659
Notes and Other Receivables, net	65,103	55,359
Prepaid Expenses and Other Assets	20,628	17,135
Land Development Costs	38,949	22,352
Investment in Joint Venture	10,758	8,937
Total Other Assets	294,373	357,365
TOTAL ASSETS	1,266,900	1,270,820
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	499,697	452,567
Other Liabilities:
Accounts Payable	6,768	4,274
Loans Payable, net of unamortized debt issuance costs	127,342	46,757
Series A Bonds, net of unamortized debt issuance costs	99,022	0
Accrued Liabilities and Deposits	14,145	17,162
Tenant Security Deposits	8,374	7,920
Total Other Liabilities	255,651	76,113
Total Liabilities	755,348	528,680
Commitments and Contingencies
Shareholders’ Equity:
Series C – 6.75% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 3,866 and 13,750 shares authorized as of September 30, 2022 and December 31, 2021, respectively; 9,884 shares issued and outstanding as of December 31, 2021	0	247,100
Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 9,300 shares authorized; 8,616 and 8,609 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	215,407	215,219
Common Stock - $0.10 par value per share; 154,048 and 144,164 shares authorized as of September 30, 2022 and December 31, 2021, respectively; 55,138 and 51,651 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	5,514	5,165
Excess Stock - $0.10 par value per share; 3,000 shares authorized; no shares issued or outstanding as of September 30, 2022 and December 31, 2021	0	0
Additional Paid-In Capital	313,806	300,020
Undistributed Income (Accumulated Deficit)	(25,364)	(25,364)
Total UMH Properties, Inc. Shareholders’ Equity	509,363	742,140
Non-Controlling Interest in Consolidated Subsidiaries	2,189	0
Total Shareholders’ Equity	511,552	742,140
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,266,900	$ 1,270,820