X0303 4 2008-07-02 0 0000067625 MONMOUTH REAL ESTATE INVESTMENT CORP mnrta 0000752642 UMH PROPERTIES, INC. 3499 ROUTE 9 N, SUITE 3-C JUNIPER BUSINESS PLAZA FREEHOLD NJ 07728 0 0 0 1 Affiliate Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 503 6.3799 A 2036605.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 100 6.35 A 2036705.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 1000 6.28 A 2037705.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 7141 6.3 A 2044846.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 2897 6.37 A 2047743.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 600 6.29 A 2048343 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 100 6.36 A 2048443.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 159 6.3099 A 2048602.6326 D Monmouth Real Estate Investment Corporation 2008-07-02 4 P 0 3000 6.31 A 2051602.6326 D This Form 4 reflects UMH Properties Inc. purchase of 15,500 shares of Monmouth Real Estate Investment Corporation on 7/2/2008. In addition, UMH owns $1,000,000 principal amount of the 2003 Debentures, representing 109,170 shares of the Issuer's Common Stock on a converted basis, and $5,000,000 principal amount of the 2005 Debentures, representing 436,681 shares of the Issuer's Comon Stock on a converted basis. The total number of securities of the Issuer beneficially owned at this time includes 545,852 shares of Common Stock of the Issuer issuable upon conversion of the 2003 and 2005 Debentures. Susan M. Jordan 2008-07-03